Aetna CEO paid $18.2 million in 2003

  1. from: ap/yahoo!, march 24, 2004

    aetna ceo paid $18.2 million in 2003
    aetna's ceo received $18.2 million in compensation in 2003, according to a recent filing with the sec.

    :angryfire :angryfire :angryfire
  2. Visit NRSKarenRN profile page

    About NRSKarenRN, BSN, RN Moderator

    Joined: Oct '00; Posts: 27,558; Likes: 13,768
    Utilization Review, prior Intake Mgr Home Care; from PA , US
    Specialty: 40 year(s) of experience in Home Care, Vents, Telemetry, Home infusion


  3. by   oramar
    This explains where all the money is going doesn't it. It is certainly not going to healthcare. Recently I tried repeatedly to post an article from Post-Gazette that said all the recent preminum increases had nothing to do with health care cost increases. Instead this article said they were directly related to attempts to increase profits. It also said that employees were being asked to contribute more an more to their healthcare benefits for same reason. Sadly, it is the only link from Post-Gazette that I ever encountered that refused to work.
  4. by   Repat
    I have posted a couple over the last year - Humana routinely posts record profits, and the press release says that these are due to increased "cost sharing" (higher premiums) and fewer payouts (I can't remember the term now, something like medical loss). It burns me up - start looking at hospital CEO salary packages, too. Why aren't people up in arms? And we haven't even begun to talk about drug companies...
  5. by   nurseunderwater
    :angryfire :angryfire

    can't even go there.....this is precisely the thing that "gets my dander up" - ms. grey....old nursing instructor
  6. by   jkaee
    :angryfire :angryfire :angryfire

    Yet this SAME COMPANY refused to pay for a Level II ultrasound during my last pregnancy unless there was a "valid medical reason" to do so! How about I'd like to make sure my baby is okay and be able to plan for delivery and life afterwards if she wasn't!


    Makes me sick....I'm sure HE can get adequate healthcare, and doesn't have to worry about referrals, or how he's going to pay for orthodontics, etc etc

    Great, now I'm going to be pi**ed off all day!

  7. by   oramar
    I recently read that UPMC paid big dividend to it's bond holders. That is the same health care orginization that routinely understaffs and has mediocre pay and benefits.
  8. by   TitaniaSidhe
    Almost all the hospitals in the NE Pa. Lehigh Valley area will no longer accept this insurance at all. My dentist just dropped it. They have been increasing everything steadily for the past 4 years or so. I myself only kept it b/c it was one of the few that even offered a small ammount of coverage for dental & now just after open season (the only time I can switch my health insurance) my dentist stopped accepting it. :angryfire I am dropping this as soon as open season hits again in November.
  9. by   Hope7
    That's one of the reasons I no longer work for Aetna.
  10. by   BillRN
    I believe, after studying this and other similar situations for many years, that fault lies with capitalism's insatiable appetite for profit at any cost. In the capitalist's profit-motivated equation, workers and consumers alike are considered so much grist for the mill. The trend is increasingly in this direction, what with corporate greed and profit being seen as acceptable variants of human behavior. Too soo, I fear, we will learn the folly of it all.
  11. by   pickledpepperRN
    Aren't the premiums paid for healthcare?

    Do any of these people care for patients?

    What DO they contribute?
  12. by   Alnamvet
    Quote from nrskarenrn
    from: ap/yahoo!, march 24, 2004

    aetna ceo paid $18.2 million in 2003
    aetna's ceo received $18.2 million in compensation in 2003, according to a recent filing with the sec.

    :angryfire :angryfire :angryfire
    assuming i received half that after taxes, i cannot, try as i have, find where i would spend that money for personal gratification...there are only so many toys, and i figure about 2 mil would get me everything i would never need, and than some....what do they do with all this cash? :angryfire
  13. by   tiroka03
    Before becoming a nurse, long time ago, when I was in my very early twenties, I used to work for them. If memory serves me correctly they merged with another company. This company was etrememly ruthless. I was a typist, but everyone was required to go to monthly company meetings. They would pick us up by giant buses and transport us to a plush hotel, serve us little danties and big steaks. Then they tried to pick our brains to find more ways to not pay premiums. They showed acciedent victims and people laughed at the pictures. It was awful, I quit. Many people quit the company when they started this barbaric method. However, I think the company split and half stayed with the same name and the other half became a meaner and worse company than before.

    Having worked for an insurance company, I never will be so innocent again. It robbed me of faith in my fellow person. I will never forget people milling around laughing at accident victims.
  14. by   elkpark
    Doesn't this sort of news convince any of the "free market" true believers who post on this site that private-for-profit healthcare is killing us? Say what you like about a universal, single-payer system in the US; at least no one would be pulling down an $18.2 mil salary ... :chuckle

    Private-for-profit corporations are legally obligated to make the highest profits possible for their shareholders. How do the health insurance companies do this? By charging as much as they can get away with for premiums, and paying for as little healthcare as possible. Do you feel good about that?? I sure don't.