- http://www.citizensforethics.org/press/entry/aetna-political-spending-american-action-network-chamber-of-commerce
- http://money.cnn.com/2012/06/14/news/economy/aetna-political-contributions/index.htm
- http://www.courant.com/business/connecticut-insurance/hc-aetna-funds-lobbying-20120614,0,2722497.story?track=rss
- http://www.nytimes.com/2012/07/08/us/politics/groups-shield-political-gifts-of-businesses.html?pagewanted=all
Provide names of other journalists involved.
Wayne Dalton of SNL Financial shared a byline and made other contributions.
List date(s) this work was published or aired.
This entry includes three of a handful of stories which grew out of the initial reporting. Dates of the included stories are June 4, June 14 and Aug. 30, 2012.
Provide a brief synopsis of the story or stories, including any significant findings.
While certain political groups, like 501(c)(4) organizations, do not have to disclose their contributors, sometimes those contributors must disclose in other ways. Aetna Inc., like other insurance companies, must self-report a series of general interrogatories to the National Association of Insurance Commissioners. We gave that data a careful review to determine how companies spend money on lobbying activities. Aetna proved to be a unique case. The health insurer outspent all other insurance companies. Its disclosure of massive spending to groups opposed to the Affordable Care Act came after conciliatory remarks about the Health Policy law by its CEO and after the company spurned a call by some shareholders to reveal more information about its political activities. Each story led to new actions by the insurer and outside groups.
Explain types of documents, data or Internet resources used. Were FOI or public records act requests required? How did this affect the work?
The data collection and initial reporting were based on disclosure forms insurance companies must file with the National Association of Insurance Commissioners.
Explain types of human sources used.
Aetna would not respond to us — until it eventually had to. The political group it funded, the American Action Network, had little to say. We mostly let the data tell the story, supplementing it with comments from political players and good-government groups. As Citizens for Responsibility in Washington and institutional investors referenced our reporting in their campaigns, we spoke with them as well.
Results:
Aetna did not respond to multiple phone and email inquiries and requests for comment. However, three days after our story showed that Aetna led all insurers in lobbying spending, the company restated its NAIC filings to reclassify “lobbying” spending as “educational” expenses. This did not silence the matter. Our reporting opened a conversation on what some called a distinction without a difference and prompted a public-interest group to renew its call for state and federal officials to enforce disclosure of political spending. It also provided fodder for a group of institutional investors to pressure Aetna and other companies to disclose more information about their political activities. These campaigns are ongoing.
Follow-up (if any). Have you run a correction or clarification on the report or has anyone come forward to challenge its accuracy? If so, please explain.
SNL’s journalism was picked up and cited by outlets including CNN Money, The New York Times, the Hartford Courant. One of SNL’s primary competitors in insurance coverage, the National Underwriter websites, cited our reporting in a few stories and even identified SNL authors by name in one report. The reporting and the data have not been questioned. There have been no corrections asked for or given.
Advice to other journalists planning a similar story or project.
Sometimes a careful look at the most mundane of filings can produce surprising results.