Former UnitedHealth CEO made $142.2M last year

[question everything]

The former CEO of UnitedHealth Group realized $142.2 million last year in what might be the biggest ever compensation package for a Minnesota-based public company.

The pay for David Wichmann, who left the company in February 2021 after 17 years, was primarily in previously issued equity awards accumulated through his tenure that he elected to exercise or vested during 2021.

Wichmann made $42.1 million in 2020 and $52.1 million in 2019.

(snip)

UnitedHealth Group executives have routinely had the highest compensation among Minnesota public companies. UnitedHealth is the largest company in Minnesota and among the 10 largest U.S. public companies.

Throughout the company's history, it has used equity awards, both stock options and various restricted stock awards, as major components of executive pay. And because the company has thrived financially and the stock price even more so, executives and shareholders have done very well.

More..

https://www.startribune.com/former-unitedhealth-ceo-made-142-2m-last-year/600171979/

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UnitedHealth is pushed by AARP. For the life of me I don't know why any senior would choose a carrier that is listed on the stock market, meaning pleasing shareholders at the expense of - no doubt - subscribers.

[Hoyt]

1. If you are a Medicare beneficiary, you pretty much have to purchased supplemental

and drug coverage through a private insurer, and most are on stock exchange. Notable exceptions are Kaiser and local “non-profit” health plans.

If you don’t buy a supplement or are on Medicaid, most of Medicare or Medicaid is administered by a subsidiary of an insurance company, listed on stock exchange.

Theoretically, the government could handle it better. But won’t be happening any time soon.

[dflprincess]

3. AARP pushes UHC Advantage plans harder than it does supplements

and it makes a lot of money on those.

Nothing makes a person a believer in single payer faster than being a "minor functionary" at UHC.

[Hoyt]

4. Well, 42% of Medicare beneficiaries choose Advantage Plans.

Maybe they are all just gullible and stupid, but suspect they know what is best for them (need the monthly premium savings and $1000 worth of dental coverage).

Clearly single payer would be best, but it’s not going to happen anytime soon.

[question everything]

5. I do have a supplemental plan but it is with a non-profit organization

No doubt, the president is handsomely compensated, but not at this rate, It is not beholden to shareholders. There are several providers in town, including a Blue.

[Skittles]

2. disgusting

SERIOUSLY fucking wrong

[Deuxcents]

6. Yes. It's obscene, imo