WellCare’s political spending eyed

By Jim Saunders and Mike Wells
5/7/2010 © Health News Florida

A New York-based investor is pushing to require WellCare Health Plans — a major contributor to Florida politicians and parties — to disclose more information about how it spends company money on political activities.

Amalgamated Bank, through one of its investment funds, wants shareholders to approve a proposal next month that would require WellCare to provide semi-annual reports about money it spends on candidates, political parties and other types of organizations that try to influence campaigns, according to a proxy statement released last week.

“Disclosure is consistent with public policy and (is) in the best interest of our company and its shareholders,” the proposal says. “Absent a system of accountability, company assets can be used for policy objectives that may be inimical to the long-term interests of and may pose risks to the company and its shareholders.”

Read the rest of the story here.


About Mike
Mike Wells is an award winning, independent journalist living in St. Louis, Mo. He is available for investigative projects, freelance reporting and media relations consulting.

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