If you are running an HMO. Otherwise, it's shit!
"Blue Cross gave chairman $16.4m in retirement pay; Van Faasen still on salary at insurer" by Jeffrey Krasner/Boston Globe November 16, 2007
William C. Van Faasen, the long-time chairman and chief executive of Blue Cross and Blue Shield of Massachusetts, was paid $16.4 million in retirement benefits in January 2006, even though he didn't leave the company.
Other health insurers also disclosed executive compensation yesterday. In 2006, Harvard Pilgrim Health Care, the state's second-largest health insurer, paid chief executive Charles D. Baker $1.5 million in salary and bonus. James Roosevelt Jr., chief executive of Tufts Health Plan, earned nearly $1.3 million including contributions to benefit plans.
The health plans also reported financial results for the third quarter of 2007. Blue Cross Blue Shield of Massachusetts earned $110 million, with strong increases in operating income and investment income compared to the same period a year ago. Harvard Pilgrim reported net income of $20.4 million, down slightly from $21.4 million in last year's third quarter. Revenue was also down slightly, from $640 million to $631.9 million.
Tufts Health Plan reported net income of $41 million. Results were boosted by nearly $17.3 million in investment income."
All that money, but no universal health coverage, huh?
What a fucking LOOTING OPERATION!
