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Thompson’s ties to politically active businesses confirmed
Question of the Day
A health insurance plan owned by D.C. contractor Jeffrey E. Thompson has confirmed his ties to a handful of little-known businesses that helped fuel his rise as a highly sought-after fundraiser for city politicians.
The insurance plan, D.C. Chartered Health Plan, also reported more than $14 million in net losses in an annual financial report made public this week by the D.C. Department of Insurance, Securities and Banking.
The report was due weeks ago, but it was delayed as Mr. Thompson dealt with a raid of his office and home last month by federal authorities investigating potential campaign finance violations.
Mr. Thompson resigned as chairman of the health plan last week, replaced by former CareFirst BlueCross BlueShield executive David Wolf.
For the first time, Chartered Health’s latest annual regulatory filing noted Mr. Thompson’s holdings included five companies that together have donated tens of thousands of dollars to city politicians, often on the same day and for the same amount as contributions from Mr. Thompson and his associates.
Listed on the organization chart in the health plan’s annual report as one of Mr. Thompson’s holdings - but not directly tied to Chartered Health - was Bright Star Entertainment, which has given more than $12,000 to city candidates over the years, according to D.C. campaign finance records.
The other Thompson holdings listed in the report - Capital Financial Services, Euclid Street Partners, KMJ Development and JT Real Estate Holdings - have combined for more than $30,000 in contributions.
The money doesn’t include other donations from Mr. Thompson personally, the accounting firm he founded, Chartered Health and other companies he owns.
No explanation is offered for the heightened disclosure about the five newly listed companies, but campaign records suggest they’re all part of the same fundraising network that for years made Mr. Thompson a highly sought-after source of campaign money for many candidates seeking elected office in the District.
But those donations, especially contributions paid out in the form of difficult-to-trace money orders, have come under scrutiny with D.C. lawmakers receiving subpoenas for records about contributions ties to Mr. Thompson.
The Washington Times last month also reported on corporate campaign contributions from Chartered Health and affiliates that appear to violate city limiting of how much money a parent company and its subsidiaries can donate to campaigns.
Mr. Thompson’s business interests rely heavily on the D.C. government, whose purse strings are controlled by the politicians to whom he has donated generously. But lately, the business has taken a turn for the worse, records show.
The company reported a net income loss last year of $14.9 million, compared to a $1.2 million profit in 2010, according to the health plan’s report.
Chartered Health, which, along with a lawyer for Mr. Thompson, did not return messages Tuesday, told regulators that the company is seeking higher reimbursement rates for Medicaid and Alliance dental claims in talks with the D.C. Department of Health Care Finance.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
Jim McElhatton is an investigative reporter for The Washington Times. He can be reached at firstname.lastname@example.org.
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