i was listening to the news early this morning and heard a Republican Senator say he didn't like the idea of a public insurance plan along with private insurance plans becasue the administrative costs were higher than for private insurance. The Senator has not done his homework. He quoted the administrative costs for Medicare as 21% and said that it was lower for private insurance companies. It is well doctumented that their administrative costs are 33%. The Senator's math is poor. Part of the reason that the private insurance plans have such high administrative costs is that their CEO's make outrageous salaries.
An article in the recent AMA News by Emily Berry noted that despite a cut in some CEOs' pay that Jay Gellert, president and CEO of HealthNet had an increase in pay from $3.6 million to $4.4 million and Angela Braly, of WellPoint had her salary increased from $9 million t0 $9.8 million. The president and CEO of UnitedHealth had his "meager" salary cut from $13.1 million to $3.2 million in 2008. I wonder how these CEO's are going to suvive on so little money? How they can live with themselves when so many people are losing their homes due to medical bills is beyond me. i wonder how they sleep at night?
THanks for this post I really learn too much.Brian N. Giddens
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Theres no way orf regulate their salaries ?
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