Obamacare Co-op Cronies Hide Big Bucks

[somarco]

Many of the Obamacare health insurance co-ops are either burying in obscure tax return footnotes vital information about extravagant compensation paid to their top executives or they’re simply not bothering to report it at all, according to a Daily Caller News Foundation investigation.

Among the worst offenders is the Chicago-based Land of Lincoln Mutual Health Insurance co-op, which reported that its chief executive officer, Daniel Yunker, was paid only $79,000 and chief financial officer Dennis Rizzo earned a mere $50,000 for 2013.

Left unstated were Yunker and Rizzo’s salaries at the Metropolitan Chicago Healthcare Council, the co-op’s official sponsor, was $460,186 for Yunker and $286,409 for Rizzo.


Read more: Obamacare Co-Ops Hid Millions In Exec Pay, Consulting Fees | The Daily Caller

 

[healther]

The Daily Caller is one of the worst sites on the planet. Can you just copy and paste the entire artice? I don't have the patience to watch my machine load all of their advertising.

 

[AllenChicago]

The Daily Caller is one of the worst sites on the planet. Can you just copy and paste the entire artice? I don't have the patience to watch my machine load all of their advertising.

I was going to post that article to the Co-op thread yesterday, but on second thought, decided not to. The $250,000 to $450,000 incomes of the Co-op CEO's, COO's, etc. are small compared to what even the Non-profit insurance companies (ie BCBS) pay their top people. Even the Boys and Girl's club CEO was paid $1.8 million last year. In short, there's nothing out of the ordinary in that article Healther.

 

[Yagents]

I was going to post that article to the Co-op thread yesterday, but on second thought, decided not to. The $250,000 to $450,000 incomes of the Co-op CEO's, COO's, etc. are small compared to what even the Non-profit insurance companies (ie BCBS) pay their top people. Even the Boys and Girl's club CEO was paid $1.8 million last year. In short, there's nothing out of the ordinary in that article Healther.

Care to break that down to average salary per covered person? And the responsibility that comes with being CEO of millions of people.

Ex: 50k insured at $250k salary = $5 per insured.
Compared to 10 million insured at $10 million salary = $1 per insured.

What kind of quality person can you get for $250k to be a CEO? If offered, I wouldn't take the job

 

[AllenChicago]

Care to break that down to average salary per covered person? And the responsibility that comes with being CEO of millions of people.

Ex: 50k insured at $250k salary = $5 per insured.
Compared to 10 million insured at $10 million salary = $1 per insured.

What kind of quality person can you get for $250k to be a CEO? If offered, I wouldn't take the job

I don't think $250,000 for a small company CEO is too little. I know... you wouldn't accept anything less than $1 million. Right YAgents?

 

[Yagents]

I don't think $250,000 for a small company CEO is too little. I know... you wouldn't accept anything less than $1 million. Right YAgents?

If Bernie Sanders is elected, I would need $10 million salary to net the $1 million

 

[sman]

If Bernie Sanders is elected, I would need $10 million salary to net the $1 million

Makes you wonder about the type of people who live in Vermont.

 

[somarco]

The issue is not the level of compensation, and whether it was fair or not. The fact that they attempted to HIDE the true comp is the underlying question.

 

[Ann H]

I don't think $250,000 for a small company CEO is too little. I know... you wouldn't accept anything less than $1 million. Right YAgents?

YAgents would be worth every dime of that $1 million (provided he accepted that paltry amount, of course).

If I started a small company in a vicious industry, I certainly wouldn't hire a CEO on the cheap.