How much should the CEO of WellPoint get?

Angela Braly, the CEO of health insurance giant WellPoint just received a whopping $13.1 million in pay, a 51 percent increase in compensation in 2009. This at the same time “WellPoint’s California subsidiary, Anthem Blue Cross, is seeking a double-digit rate increases for many of its 800,000 members who buy individual policies.” A Center for American Progress analysis from February found that “double-digit hikes have been implemented or are pending in at least 11 other states among the 14 where WellPoint’s Blue Cross Blue Shield companies are active.” WellPoint spokesman Jon Mills justified Braly’s compensation by saying that the company “wants to attract and retain top talent.” I'm guessing there are a lot of "top talent" people who would be more than willing to work for over $60,000 a day plus corporate jets and catered meals and all the other perks Braley enjoys. They're just not members of the old-boys-and-girls network that has become the ruling aristocracy of America's CEO class.

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