What’s Worth 186 Million Dollars?
The Top 5 of the Top 5 Apparently.
How much money do the top 5 executives of the top five health insurance companies make?
I’m not big on math….but have been curious about this number for a while. At first I thought I would take the top 10, but, then I found that only reporting the top 5’s salary was mandated, so, I went with that.
A publicly-traded company is only required to disclose information concerning the amount and type of compensation paid to its CEO, CFO, and the three other most highly compensated executive officers in a given year. Information about compensation for these individuals may be unavailable in prior years if they were not in their current roles or did not qualify as among the most highly compensated officers at the time.
It’s good I wasn’t obsessed with the top 10, because that number would not have fit on my calculator and I would have had to do all the calculations by hand…oh no.
So, using Forbes, I determined who the top 5 health insurance companies (by market value) are, and using Morningstar’s data for UnitedHealth Group 2014, and the other insurance companies, tags (UNH, ANTM, AET, CIG, HUM), I got my names and numbers.
Grand total taken out of the healthcare system in 2014, by 25 – 30 people (some were no longer employed but were still in the top 5 thanks to some serious parachutes, as was the “new guy,” yes, mostly guys, thus, more than 25):
That’s almost 186 MILLION DOLLARS in ONE YEAR. I can guarantee you, take 25 -30 doctors and you will not find $186 million bucks being removed from the system.
Talk about sick.
How can we let this happen?