Tuesday, July 5, 2011

How does this quote apply to corporate health insurance providers?

"Capitalism is the extraordinary belief that the nastiest of men for the nastiest of motives will somehow work for the benefit of all."
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The report shows that the top-five managed care executives received the following compensation in 2000, exclusive of unexercised stock options: William McGuire (CEO of UnitedHealth Group): $54.1 million Wilson Taylor (Retired Chairman, CIGNA): $24.7 million Ronald Williams (Executive Vice President, WellPoint): $13.2 million William Donaldson (Chairman, Aetna): $12.7 million Leonard Schaeffer (Chairman and CEO, WellPoint): $11.1 million According to the Families USA report, the five executives with the highest amount of unexercised stock options at the end of 2000 were: William McGuire (CEO, UnitedHealth Group): $357.9 million Stephen Hemsley (President and COO, UnitedHealth Group): $144.9 million Norman Payson (Chairman and CEO, Oxford Health Plans): $115.4 million Wilson Taylor (Retired Chairman, CIGNA): $66.1 million Leonard Schaeffer (Chairman and CEO, WellPoint): $64.6 million "The managed care industry is increasing premiums at 10, 12, 15 and even higher percentages per year and is lavishing large compensation packages on its top executives http://www.azinjurycenter.com/CM/Custom/…
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