For all who cannot afford health insurance you should be glad to know

[question everything]

that the CEO of UnitedHealth Group Inc. was making $114 million last year http://www.startribune.com/stories/535/5402793.html

The rationale, according to the story, is that he keeps shareholders happy. And, I suspect, he does this by limiting the "expenses" on patients, hospitals and clinics - the reporter did not provide much details.

And we have to wonder why an organization that is in the "business" of providing health care - directly or indirectly by providing insurance - is even traded in the stock market.

Why should administrators - OK, this person started as a physician - be paid million of dollars when so many physicians and clinics are being squeezed by miserable payment? when so many cannot afford insurance, when so many are stuck with lousy jobs because they need the insurance provided?

[enid602]

1. $114M

$114M; that's 2280 times the amount of Andy's surgery! That might even cover all the people who have to get that type of pancreatic surgery over the period of a month or a year. Such waste.

edit for spelling

[mike_c]

2. kicked and nominated....

"The rich get richer, and the poor stay sick." --U2

[Catherine Vincent]

3. Greed.

Do these people not realize that's what this is?

[tavalon]

13. Better question

Do they care?

[jojo54]

4. 114 mil HHHHHMMMMMMMMMMMM

Gee, it sure would be nice to go to the doctor for an allergy shot. It sure would be nice to go get a mamogram, beings I'm !50! this year. It sure would have been nice for my husband not to stress over going to the doc for 3 days when we had the flu and his turned into asthmatic bronchitis. Do ya think that this CEO would send me a check if I emailed him?

NOT!

[Poiuyt]

5. $114 million - That's more than I make!

I guess I'd better start working harder.

[necso]

6. Looting while the looting's good.

In general, the plan is to suck everything possible out of healthcare (and, more broadly, American "industry") and then dump the problems on the government (if the government gives a tinker's damn by that time).

Of course, they plan on doing this a piece at a time -- making it virtually impossible for the government to deal with the overall problem efficiently -- or in a timely manner.

Thanks, guys... and don't forget to work on that "legacy" -- it's what robber-barons do.

[enid602]

8. looting

And then ultimately withdraw federal medicade funding to states.

[enid602]

7. tax cut

And I'm sure he's effectively making even many more millions given *'s generous tax cuts to the wealthiest Americans.

[Nite Owl]

9. Single payer

is what we need. Outsource the CEO's! They will love India, I just know they will.

[NMMNG]

10. Outrageous

This bastard makes that much, and the doctors who actually treat the patients likely make around $7-$10 per patient visit from UHC. Then there's all sorts of hoops to jump through and red tape for things to be covered.

There is no justification.

[unhappycamper]

11. A little perspective is in order

The AFLCIO has a pretty good site with CEO compensation info; unfortunately, it has not been updated with 2004 data. The 2003 data should below gives you an idea of the disparity.

http://www.aflcio.org/corporateamerica/paywatch/

If you are "rich" according to *'s proposed SS guidelines,

William W. McGuire
Chairman and CEO
United Health Group Inc.

In 2003, William W. McGuire raked in $42,802,127 in total compensation including stock option grants from United Health Group Inc..

From previous years' stock option grants, the United Health Group Inc. executive cashed out $84,176,032 in stock option exercises.

And William W. McGuire has another $721,831,169 in unexercised stock options from previous years.

--------

How You Compare to Your CEO if you are making $20,000 a year
William W. McGuire's compensation could support 2140 workers earning your salary.

You would have to work 2140 years to equal William W. McGuire's 2003 compensation.

You'd better get working, because you can't take a vacation until 4145 A.D.

[question everything]

12. shudder..

[nashville_brook]

14. when they say the FREE MARKET solves everything they are LYING

the government is much better at cutting costs than fat cat corps.

a corp exists to MAKE MONEY -- period.

i'm getting very angry...nothing pisses me off like healthcare! 114 million! jesushchrist -- there's no sense in that. we are mad.

[cheezus]

18. here's what I don't understand

why doesn't theboard say "hey, for $50 mil, less than HALF of what we paid this guy, we can get some other guy who's just as good"

talk about cost savings

[Vinca]

15. New Hampshire insurance companies made record profits last year.

Meanwhile, we had to give up coverage when the premiums reached 1/4 of our net income. I've been wondering what would happen if everyone could be convinced to cancel their insurance policies at once so the insurance companies would all of a sudden have zero income. I know that could never happen, of course, but as more and more people are priced out of the market it must have an effect on their bottom line eventually.

[progressoid]

16. These bastards bilked my wife and I out of thousands in premiums

Man, this pisses me off.

They keep bitching about overhead and rising medical costs. BS. $114M - thats some pretty big overhead right there.

[Vincardog]

17. It is because we have a Health Insurance industry making 35% profit

If we had a single payer system it could be run for 7%. 28% immediate savings. Why is there more motive to deny services than to provide them? GREED:think:

[undeterred]

19. First, do no harm

Sucking up that much profit does a huge anount of harm. Amazing that people can justify this to themselves.

[glitch]

20. A tidbit to cheer you up: 18k die a year from no access to health care

However 30k die a year from direct malpractice.

This is what I console myself with, since I no longer have medical insurance.

[IronLionZion]

21. how many industries do you know of ...

that profit by NOT serving their customers?

or turn away customers who are able to afford it and need it the most, but are "high risk"?

or have 43 million potential customers that no company wants because they are poor? In a free market system, companies would be competing to insure as many people as they can.

Whenever someone tries to tell me that our insurance industry is free market competition, I feel like punching them in the face. The very concept of insurance is a socialist idea.