Good News! Health Insurers CEOs Continue to Get Wealthier!
I am not sure if you heard the news or not so here it is:
Nearly all of the largest publicly traded health insurance companies gave their CEOs a pay raise in 2018. That includes UnitedHealth Group, whose CEO David Wichmann’s total compensation reached $18.1 million.
Hooray! I was so worried about these guys. They keep claiming that they are being screwed over by the ACA, and need that risk corridor money, but somehow they keep paying their CEOs tons of cash. And their stocks and profits continue to soar.
- The CEOs of the eight largest
publicly traded insurance companies—including pharmacy behemoth CVS, which acquired insurer Aetna—made $143.5 million in total compensation in 2018, up 14.4%. - Meanwhile, those same companies recorded a combined $21.9 billion in profits in 2018 on revenue of $718 billion
This needs to stop. I don’t think a single payer system is the way to go. I want real competition or a free market to bring insurance prices down. What they have no is collusion and monopolies.
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“Value-based” payment for thee, but not for me.
How about hospital administrators, esp nonprofits? The Harvard-affiliated Boston teaching hospital CEOs are well into 7 figures …
“…real competition or a free market…” is what causes “collusion and monopolies”.
It happens in all industries- finance, manufacturing, healthcare etc.
The only way to prevent it is effective regulation which requires (gasp) government involvement.
There is NO “effective regulation” by the government. Regulation is what has poisoned our society. Dissolve all the government agencies that “regulate” and let the free markets rule.
Or perhaps do away with all pharmaceutical tax breaks, subsidies, and stupid ACA supports?
Completely correct Doug! It needs to be 100% free market and fully transparent!