Still convinced that corporate greed is perfectly healthy for our country? Here’s a personal example…
My health insurance premiums through United Healthcare are going up in 2012 … along with all of my co-pays, deductibles, and out of pocket maximums. The worst example is my co-pay for generic prescriptions, which is doubling.
In first quarter 2011, United Healthcare reported earnings of $1.22 BILLION. That’s profit, not revenue, by the way…
They’re currently on-track to clear almost $4.5 BILLION in earnings for the 2011 year.
In 2009, UHC paid its CEO $102 MILLION in total compensation. That’s over $100 million to one guy.
Note – this is a different greedy CEO than the last guy who made headlines for leaving the company with $1.1 BILLION in compensation as one of the largest golden parachutes in corporate history. (there was later a scandal regarding stock options that forced him to give some of it back…)
Maybe a not-for-profit healthcare system might not be so bad after all.