And you wonder why health care costs are going up????

As Kaiser Workers Face Cuts, Execs Have Enjoyed Lavish Benefits

Despite strong profits and robust executive compensation at Kaiser Permanente, workers for the Calfornia-based health care giant say they're facing down cuts to their health and retirement benefits in pending contract negotiations.

Proposed cuts include freezing employees' defined-benefit pension plan and switching to a less desirable defined-contribution plan, according to a flier circulated by the National Union of Healthcare Workers. Workers are being asked to accept a more costly employee health insurance plan and cuts to their retirement health benefits, the union says.

While those cuts get debated, Kaiser executives have been living well. Pay and perks for high-ranking officials at the nonprofit have been generous in recent years, according to disclosure forms.

In 2009, the most recent year for which figures were available, George Halvorson, the CEO for Kaiser Foundation Health Plan & Kaiser Foundation Hospitals, received compensation of $6.7 million. Halvorson's package included a $1.2 million payment to his "supplemental non-qualified retirement plan." More than 40 other officers and employees received payments to such retirement stashes -- several of them in the hundreds of thousands of dollars.

Members of management have also received large "relocation" loans from the nonprofit. Philip Fasano, the chief information officer and vice president, was given such a loan for half a million dollars, according to Kaiser's IRS filings. Disclosure forms with the State of California indicate that two of those relocation loans -- including one for $500,000 -- are forgivable, meaning that the principal of the loan can eventually be forgiven, so long as conditions are met in the short-term. (The state filings do not name the officers who received the forgivable loans.)

http://www.huffingtonpost.com/2011/07/1 ... 96276.html


And you wonder why health care costs are going up???? I'm sure there must be some way for the wackos to try to blame this in some way on Obama, but as usual, it just comes down to executive greed....

Not a bad gig for a "non-profit". This is a prime example of why consumers should be allowed to by insurance across state lines. Then they could more easily switch insurance providers if they disagree with executive compensation.

conifermtman wrote: Not a bad gig for a "non-profit". This is a prime example of why consumers should be allowed to by insurance across state lines. Then they could more easily switch insurance providers if they disagree with executive compensation.

Exactly!! This is one of the things the Republicans fought for instead of the entire overhaul. But the Dems fought it.

And did you see the story today on page 1001 or close to that they found a loophole where the 15 people on the death panel (with no real medical expertise) can decide without any approval of anyone else what procedures are necessary and what they will pay for and what they won't. So already Doctors are saying they are going to cut way back on Medicare and government accepted insurance as they may now do the work and get turned down by these 15 people. This is a total joke!

LadyJazzer wrote:

As Kaiser Workers Face Cuts, Execs Have Enjoyed Lavish Benefits

Despite strong profits and robust executive compensation at Kaiser Permanente, workers for the Calfornia-based health care giant say they're facing down cuts to their health and retirement benefits in pending contract negotiations.

Proposed cuts include freezing employees' defined-benefit pension plan and switching to a less desirable defined-contribution plan, according to a flier circulated by the National Union of Healthcare Workers. Workers are being asked to accept a more costly employee health insurance plan and cuts to their retirement health benefits, the union says.

While those cuts get debated, Kaiser executives have been living well. Pay and perks for high-ranking officials at the nonprofit have been generous in recent years, according to disclosure forms.

In 2009, the most recent year for which figures were available, George Halvorson, the CEO for Kaiser Foundation Health Plan & Kaiser Foundation Hospitals, received compensation of $6.7 million. Halvorson's package included a $1.2 million payment to his "supplemental non-qualified retirement plan." More than 40 other officers and employees received payments to such retirement stashes -- several of them in the hundreds of thousands of dollars.

Members of management have also received large "relocation" loans from the nonprofit. Philip Fasano, the chief information officer and vice president, was given such a loan for half a million dollars, according to Kaiser's IRS filings. Disclosure forms with the State of California indicate that two of those relocation loans -- including one for $500,000 -- are forgivable, meaning that the principal of the loan can eventually be forgiven, so long as conditions are met in the short-term. (The state filings do not name the officers who received the forgivable loans.)

http://www.huffingtonpost.com/2011/07/1 ... 96276.html


And you wonder why health care costs are going up???? I'm sure there must be some way for the wackos to try to blame this in some way on Obama, but as usual, it just comes down to executive greed....

I know your miopic tunnel vision only allows you to look at the smaller picture and this in minusclue amounts of money when looking at the big picture. But thanks for bringing up the subject so we can discuss the REAL reasons! :thumbsup:

Um, I'm not exactly staggering in shock at those "lavish" executive salaries in this case. $6 million may sound like a lot but it's peanuts compared to what top financial services and fund managers pull down. I don't think this organization is one I'd use as an example of a poster child for worker/executive pay disparity.

AspenValley wrote: Um, I'm not exactly staggering in shock at those "lavish" executive salaries in this case. $6 million may sound like a lot but it's peanuts compared to what top financial services and fund managers pull down. I don't think this organization is one I'd use as an example of a poster child for worker/executive pay disparity.

Yeah this story is irrelevant in why costs are so high but it does bring up a good topic. It is like Obama fighting for $3 billion in tax cuts saying it go a long ways in helping to cut back the $2 trillion dollar shortfall we have. No logic or economic sense. :bash

And with how many patients Kaiser has, I am betting the excessive executive compensation doesn't wind up to a whole lot per capita. But I think it is great that the story is posted. Executive compensation, especially for charities should be public.

SS109 wrote: And with how many patients Kaiser has, I am betting the excessive executive compensation doesn't wind up to a whole lot per capita. But I think it is great that the story is posted. Executive compensation, especially for charities should be public.

Kaiser isn't a "charity", it's a not-for-profit. There is quite a big difference. One is supported by donations, the others by fees for service.

AspenValley wrote:

SS109 wrote: And with how many patients Kaiser has, I am betting the excessive executive compensation doesn't wind up to a whole lot per capita. But I think it is great that the story is posted. Executive compensation, especially for charities should be public.

Kaiser isn't a "charity", it's a not-for-profit. There is quite a big difference. One is supported by donations, the others by fees for service.

While technically true I think SS109 is pointing out that this goes against the spirit of a non-for-profit when salaries are in the millions. At some point it definitely is for someone's profit, just not the policy holders.