UnitedHealth CEO Stephen Hemsley was paid $102M in '09

[dflprincess]

http://www.startribune.com/business/90890274.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUU

Giant paydays are back at UnitedHealth Group.

Chief executive Stephen Hemsley pulled in $102 million in 2009, with $98.6 million coming from exercised stock options, according to a filing with the Securities and Exchange Commission Wednesday.

That’s the biggest payday at the Minnetonka-based health insurer since 2006, when former chief Dr. William McGuire collected $127 million.

It’s also a big leap from Hemsley’s compensation of $9.5 million in 2008, which included $6.2 million in exercised options. He made $5.0 million in 2007, a year in which he exercised no options....

Hemsley’s $86,916 in other compensation includes company matching contributions to a 401 (k) plan and an executive savings plan. It does not include perks such as private use of company aircraft, company car or financial planning services....

...UnitedHealth’s 2009 revenue was $87.1 billion, up 7 percent from a year earlier. Net earnings were $3.8 billion, or $3.24 per share, up 28 percent and 35 percent respectively. The company’s guidance for 2010 was revenue above $90 billion with earnings of $2.90 to $3.10 per share.

[Name removed]

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[sharp_stick]

2. For this scumbag

we should make sure it's left nice and rusty, maybe have to drop the blade a few times to get it all the way through.

109 million is simply obscene, he should be ashamed.

[Canuckistanian]

3. Just did a quick calculation. The man makes 1500X my salary

And I thought I was doing well.

How in Hell is ANY human being's work worth that much money?

[napi21]

4. UHC has a terrible reputation with the hosp's & docs but that's what I have.

We're retired & when I checked in Dec. with my medicare specialist, he told us that Secure Horizons was the ONLY advantge plan available in our area. We could have bought into some other Medicare supplements but the cheapest of any of them was $125/mo. and that's on top of the $97.00 that is deducted from ur SS checks each month. Secure Horizons is $20/mo. I know Obama hates the Advantage plans and I still supported his HC plan to bring them onto an even playing field with all the other ins. plans, but because we live totally on SS, I just couldn't say no to the $20/mo.

I still hate HC and their business practices I guess we're lucky though. At least so far, we'e not had any problems with claims.

[MrSlayer]

5. Just imagine how much the company has profited if they can pay him that much.

Talk about out of control.

[sequioa]

6. Dude did you read the whole article-read the comments section

HC CEO Compensation

Who set up the compensation plan in 1999 for Dr. Maguire and Mr. Hemsley? Answer--their Board. Who was on their Board? A man named James Johnson. Who is/was he? He ran Fannie Mae in the 90s. He "cooked" the books, so he and his friend Franklin Raines could get big bonuses. Did he do this with other companies? Oh yes. He was on the board of West Coast home builder KB Home. They also had basically the same type of CEO pay scandals. OBTW--Countrywide was KB's primary lender. Anything else about Mr. Johnson? He worked for Walter Mondale. He also was slated to pick the VP for someone named B. Hussein Obama in 2008. However, even Obama could not take the baggage that Mr. Johnson brought to the table. Funny, the "greatest actuarial mind" of our time (Obama) has friends like Mr. Johnson and Lois Quam (aka Mrs. Matt Entenza)


I keep saying as a physician, the big boys are scamming us all. Be an independent and don't let anyone stay in DC-ville and get too powerful.

Republican or Democrat, NO PARTY DESERVES TOTAL CONTROL.

Absolute power corrupts absolutely.

[harun]

7. UHC is the worst company on Earth. They should be shut down and tried for crimes

against humanity.