In early 2009, Health Reform Watch, a consumer watchdog for the health insurance industry, posted the Total Compensation for a number of Health Insurance Company CEOs for 2007 and 2008. The source for this information was pulled from each insurance company's SEC filings (Schedule 14A).
Below are the top paid health insurance executives for 2008, courtesy of FierceHealthcare.com.
Insurance industry executive are among the highest paid of ANY industry. The compensation figures below pretty much speak for themselves.
Aetna’s Ronald Williams received $24,300,112 last year. That’s $467,309.85 per week. That’s a house for you and me.
Angela Braly, CEO, WellPoint, which made the list of the Top Ten Worst U.S. Insurance Companies (See previous post below), and sells health insurance under the names Blue Cross and Blue Shield, was paid $9,844,212. That's $189,311.76 per week
Stephen J. Hemsley, CEO, United Health Group, which sells health insurance under the name PacificCare, ranked as the absolute worst healthcare insurance company, and made the Top Ten Worst Insurance Company list, made $3,241,042 in 2008 This was down from the $13,164,529 he received in 2007.
Below is a list of the highest paid health insurance industry CEO's for the years 2007 and 2008.
Top Health Insurance Industry CEO Pay for 2007
- Aetna Ronald A. Williams: $23,045,834
- Cigna H. Edward Hanway: $25,839,777
- Coventry Dale B. Wolf : $14,869,823
- Health Net Jay M. Gellert: $3,686,230
- Humana Michael McCallister: $10,312,557
- United Health Group Stephen J. Hemsley: $13,164,529
- WellPoint Angela Braly (2007): $9,094,271
L. Glasscock (2006): $23,886,169
Top Health Insurance Industry CEO Pay for 2008
- Aetna, Ronald A. Williams: $24,300,112
- Cigna, H. Edward Hanway: $12,236,740
- Coventry, Dale Wolf: $9,047,469
- Health Net, Jay Gellert: $4,425,355
- Humana, Michael McCallister: $4,764,309
- United Health Group, Stephen J. Hemsley: $3,241,042
- Wellpoint, Angela Braly: $9,844,212
COMMENTARY: With all the controversy surrounding health care reform, including outright lies and distortions, divisions based on political parties and many misinformed Americans who tow the party line, keep one point in mind --It is YOU, the policyholders, who are paying these CEO's their salaries. These CEO's in return thank you by cancelling your insurance coverage, delaying or denying insurance coverages, discriminating against senior citizens and minorities, and commiting fraud and other criminal activities.
WellPoint and United Health Group, the No 1 and No 2 health insurance companies in the U.S., both made the Top Ten Worst Insurance Company list. Their policyholders spoke out loud, and this is just the Top 10. If your health insurance company did not make the Top Ten Worst Insurance Company List, this does not necessarily mean that your insurance company is squeaky clean or socially responsible.
I bet you a pint of Dos Equis that if there were a Top 50 list, the same pattern of excessive CEO compensation and treatment of policyholders would surface. You can challenge me on this if you wish, I love the controversy, just provide the facts and figures.
I conclude from my research, that the entire insurance industry -- health, casualty and automotive -- are in it strictly for the money and need to be reformed. That is quite obvious. They could really care less about you, the policyholder.
Courtesy of an article dated May 20, 2009 appearing in Health Reform Watch
[this is good] The US health care system is run bu gread.
Posted by: healthy-businessman | 02/11/2010 at 02:54 AM