Is Superdelegate James Rooservelt, CEO of Tufts underfire for lavish pay?
Superdelegate James Rooservelt, CEO of Tufts comes underfire for excessive pay.
State Senator Mark Montigny said the pay seemed excessive. "At a time when healthcare cost increases are rampant, and no one can afford healthcare - not the employee, not the employer, not the uninsured - these so-called charities are a pretty comfortable place to land," he said.
James Roosevelt Jr., super-delegate and chief executive of Tufts Health Plan, earned $1.19 million in 2007, including a bonus of $552,909.
Cleve L. Killingsworth, the chief executive of Blue Cross and Blue Shield earned $3.6 million in 2007, an 18.6 percent increase over his compensation in 2006.
At Harvard Pilgrim Health Care, chief executive Charles D. Baker earned $1.38 million last year,.
They should all get a heafty raise if Hilary mandates healthcare.
- NemesisLv 41 decade agoBest Answer
You have hit upon an important FACT that the Dems do NOT want to address at all. There are other problems with the special (and illegal) treatment the large insurers get:
When 75% of the people who declare bankruptcy over medical bills ARE INSURED, then insurance is CLEARLY not the answer.
"Aldrich’s situation is "asinine" but increasingly common, said Dr. Deborah Thorne of Ohio University. Thorne, co-author of a widely quoted 2005 study that found medical bills contributed to nearly half of the 1.5 million personal bankruptcies filed in the U.S. each year, said that ratio has likely worsened since the data was gathered.
Like Aldrich, Thorne said, three-quarters of the individuals in the study who declared bankruptcy because of health problems were insured. "
Linda Peeno, MD testified that SHE had often denied treatment JUST to save the insurance company money http://www.thenationalcoalition.org/DrPeenotestimo...
"the vast majority of health insurance policies are through for-profit stock companies. They are in the process of “shedding lives” as some term it when “undesirable” customers are lost through various means, including raising premiums and co-pays and decreasing benefits (Britt, “Health insurers getting bigger cut of medical dollars,” 15 October 2004, investors.com). That same Investors Business Daily article from 2004 noted the example of Anthem, another insurance company. They said the top five executives (not just the CEO) received an average of an 817 percent increase in compensation between 2000 and 2003. The CEO, for example, had his compensation go from $2.5 million to $25 million during that time period. About $21 million of that was in stock payouts, the article noted.
A 2006 article, “U.S. Health Insurance: More Market Domination, More CEO Compensation”
(hcrenewal.blogspot.com) notes that in 56 percent of 294 metropolitan areas one insurer “controls more than half the business in health maintenance organization and preferred provider networks underwriting." In addition to having the most enrollees, they also are the biggest purchasers of health care and set the price and coverage terms. “’The results is double-digit premium increases from 2001 and 2004—peaking with a 13.9 percent jump in 2003—soaring well above inflation and wages increases.’" Where is all that money going? The article quotes a Wall Street Journal article looking at the compensation of the CEO of UnitedHealth Group. His salary and bonus is $8 million annually. He has benefits such as the use of a private jet. He has stock-option fortunes worth $1.6 billion."
--Save America, Save the World by Cassandra Nathan pp. 127-128
"Insurance Companies Robbing Patients
Robbing patients to pay CEOs leads to unprecedented medical insurance corporation greed.
Thursday, January 3, 2008 8:52 AM
By: Michael Arnold Glueck & Robert J. Cihak, The Medicine Men"
What I've seen that would correct this is a book's plan--Save America, Save the World by Cassandra Nathan. You can see PART of her suggestions for reform here:
Read the PDF, not the blurb, for the bulk of the plan. Book is searchable on Amazon.com