FTCR: CalPERS Opposes $345 Mil In Merger Bonuses for PacifiCare Fat Cats

[Montauk6]

FTCR Says Schwarzenegger Should Give Back $78K In PacifiCare Campaign Contributions

Santa Monica, CA -- Citing huge cost increases for patients and shareholders, today the board of the California Public Employees Retirement System (CALPERS) -- the state's largest health care purchaser -- voted to call on PacifiCare of California, United Health and the Department of Managed Health Care (DMHC) to remove $345 million in executive bonuses proposed as part of the pending merger of the two HMOs. The Foundation for Taxpayer and Consumer Rights (FTCR) said that the $345 million in bonuses is "enough money to provide health care to 115,000 Californians for an entire year" and congratulated CALPERS for its opposition to payouts.

More: http://tinyurl.com/eybdq