Republicans say we can’t afford “Medicare for All” but we can afford to pay the CEO of BCBS Michigan and other CEOs outrageous compensation for what they do. Here is where our hard earned money goes: health insurance CEO Daniel Loepp, of BCBS Michigan, earns $4,541 per day, 365 days a year; Jay Gellert, of Health Net, is compensated $12,000 a day; Richard Barasch, of Universal American, receives $9,600 a day; Stephen Hemsley, of United Health Group, is paid 8,900 a day; Ron Williams, of Aetna, is paid $65,000 a day; H. Edward Hanway, of CIGNA, is paid $34,000 a day; Angela Braly, of WellPoint, is paid $27,000 a day; Dale Wolf, of Coventry Health Care, is paid $25,000 a day; Michael Neidorff, of Centene, is paid $24,000 a day; James Carlson, of AMERIGROUP, is paid $14,000 a day; and Michael McCallister, of Humana, is paid $13,000 a day.
Now, consider that the administrator for our entire Medicare and Medicaid programs, for the whole United States, receives only about $200,000 per year!
One employer I know pays $16,000 a year per employee for their employer-provided health insurance. Employers that provide health care insurance for an employee and family pay out around $1,600 (and sometimes much more) a month. Add to that the fact that the employee may have to kick in another $300 out of pocket each month. In addition, the employee has co-pays to deal with out of pocket for office visits, ER trips, x-rays, labs, etc.
So unless your employer is paying your entire health care insurance bill and all your co-pays, each insured person is paying an expensive bill for health care insurance, all while the CEO of your insurance company is making thousands of dollars by the hour, 365 days a year. They make money and refuse us payment for care or medications whenever they can.
Is Medicare for All affordable? Ask someone who has gone bankrupt while paying an insurance premium or a hospital bill. What kind of insurance could you provide for your family if you made $4,451 an hour?
Thomas Ford, Owosso