Posted On: August 10, 2005, 6:43 pm CDT

Posted By: Down to nothing:

Oh yeah. The system we have is magnificently efficient. Just not for delivering healthcare. Here's what it is especially wonderful at doing:


The 20 Highest-Paid HMO Executivesâ„¢ 2002 Annual Compensation, Exclusive of Unexercised Stock Options

Norman C. Payson, M.D., Former Chairman and CEO, Oxford Health Plans, $76,010,825
Leonard D. Schaeffer, Chairman & CEO, WellPoint, $21,765,532
Allen F. Wise, President & CEO, Coventry, $21,664,330
D. Mark Weinberg, Executive VP, WellPoint, $14,046,201
R. Channing Wheeler, CEO, Uniprise UnitedHealth, $9,588,699
William W. McGuire, M.D, Chairman & CEO, UnitedHealth, $9,457,403
John W. Rowe, M.D., Chairman & CEO, Aetna, $8,927,005
Thomas P. McDonough, Executive VP & COO, Coventry, $7,505,810
Dale B. Wolf, Executive VP, CFO, Coventry, $7,451,391
Larry C. Glasscock, President & CEO, Anthem, $6,857,839
Joan E. Herman, Executive VP,, Senior Specialty WellPoint, $6,460,301
B. Curtis Westen, Senior VP, General Counsel, Health Net, $6,150,970
Ronald A. Williams, President, Aetna, $6,113,491
H. Edward Hanway, Chairman & CEO, CIGNA, $5,976,890
David J. Lubben, General Counsel, UnitedHealth, $5,698,793
James G. Stewart, Former Executive VP & CFO, CIGNA, $5,191,809
Robert J. Sheehy, CEO, UnitedHealth Care, $5,064,152
Anthony M. Marlon, M.D., Chairman, CEO & President, Sierra Health, $4,745,988
Charles G. Berg, President and CEO, Oxford Health Plans, $4,739,173
Donald M. Levinson, Executive VP, Human CIGNA, $4,491,315

Total Compensation for 20 top executives:, $237,907,917
Average Compensation for these executives: $11,895,396


The 20 HMO Executives with the Largest Value of Unexercised Stock Options in 2002

William W. McGuire, M.D., Chairman & CEO, UnitedHealth, $529,986,971 [!]
Stephen J. Helmsley, President & COO, UnitedHealth, $221,458,436
Leonard D. Schaeffer, Chairman & CEO, WellPoint, $93,087,561
Robert J. Sheehy, CEO, UnitedHealth Care, $39,152,576
R. Channing Wheeler, CEO, Uniprise UnitedHealth, $34,012,480
David J. Lubben, General Counsel, UnitedHealth, $29,131,986
David C. Colby, Executive VP & CFO, WellPoint, $26,369,941
Norman C. Payson, M.D., Former Chairman and CEO, Oxford Health Plans, $25,589,375
John W. Rowe, M.D., Chairman & CEO, Aetna, $24,078,480
Jay M. Gellert, President & CEO, Health Net, $23,477,657
Thomas C. Geiser, Executive VP, WellPoint, $17,074,545
Marvin P. Rich, Executive VP, Health Net, $14,585,577
Howard G. Phanstiel, President & CEO, PacifiCare, $14,031,740
D. Mark Weinberg, Executive VP, WellPoint, $10,689,518
Allen F. Wise, President & CEO, Coventry, $10,099,038
Joan E. Herman, Executive VP, Senior Specialty WellPoint, $9,292,358
Larry C. Glasscock, President & CEO, Anthem, $9,038,474
Ronald A. Williams, President, Aetna, $7,845,000
Charles G. Berg, President and CEO, Oxford Health Plans, $7,758,078
Joseph S. Konowiecki, Executive VP, PacifiCare, $7,104,900


Total value of stock options for 20 top executives: $1,153,864,691
Average value of stock options for these executives: $, 57,639,235


In summary:
The total of the twenty highest-paid executives in 2002 annual compensation, not including stock options: $237,907,917! Add to that the stock options: $1,153,864,691! Yes, that is a billion dollars! Together you are looking at $1.75 billion that went to twenty people in that industry in 2002 alone!!!!! (We can only imagine what they "earned" in past years, or how lucrative 2003 & 2004 will be for that matter.) That's what ya call profitability!
Plus, they all just got a big fat tax cut! Can you just imagine how difficult it must be to find a reasonably priced mansion in Aspen right now!


For the complete report in PDF form go to: http://www.familiesusa.org/site/DocServer/Top_Dollar_report.pdf?-docID=1381

For another interesting report on the drug industry,
http://www.consumersunion.org/pdf/medicare-603.PDF