"To be a successful contractor for the Government, a company must be both responsive and responsible"
I first I must confess my bias - I am no big fan of UnitedHealth. I have not been a fan for many years. Even though some may disagree, my opinion about this giant, for profit insurer is simple - they are much more concerned about lining their pockets than patient care.
Lets begin this story with "Dollar Bill". Dr. William McGuire, who served as UnitedHealth’s CEO from 1991 to 2006, received at whopping $286 million severance when he retired. Just to be fair, it is not just UnitedHealth that paid this kind of severance. Four CEOs who collected more than $100 million in severance pay also worked in healthcare industry. However, "Dollar Bill" received the highest.
This is an extraordinary amount of severance for one person to receive. However, it gets worse. Dr. McGuire earned the nickname "Dollar Bill" for a good reason. In April of 2006, even the Star and Tribune got on his case for money grubbing:
"'Dollar Bill' has made lots of news with cash-and-stock paydays that have topped $100 million in recent years -- and he's still sitting atop stock options valued at $1.6 billion. McGuire's admiring outside board members -- 10 of whom have become millionaires through the sale of their own appreciated stock in recent years -- have defended his league-leading compensation on grounds that the giant health insurer's stock price has been a superb performer."
At a time when many of the working folks were struggling with rising health premiums, this miser was sitting on over a billion dollars of options! It does not end here. Don't forget Lois Quam. Quam is married to Matt Entenza, a staunch DFL minion who ran for governor in 2010. Matt did not win the party endorsement so he did not have enough money to launch a huge campaign. So he had his wife help out. Even though she did not make as much as "Dollar Bill", she still made an extraordinary amount of money from UnitedHealth. She has since left UnitedHealth with a severance which is probably higher than most will ever see or receive.
Then the unthinkable happened. According to an announcement on AMEDNEWS.com:
"The country’s largest private health plan is getting bigger, by nearly 3 million members and $1.4 billion in income during the next five years, thanks to a contract to administer Tricare benefits for active and retired service members and their families."
Since the transition to UnitedHealth, things have gone terrible for vets who rely on Tricare for service benefits. Many think UnitedHealth "bought in" to the contract. My own experience with UnitedHealth on Tricare Prime has been bad. Slow response, inconsistent answers. To make matters worse, I recently received a letter informing me I would be dropped from Tricare Prime on October 1st, because "I live in the wrong area". After 21 years in the Navy, I earned that benefit. UnitedHealth and I are now at war.
I have no use for this company. As a citizen, as a vet, I will do whatever I can to make ensure they follow their new government contract the letter of the law. Our vets deserve better than UnitedHealth - so, so much better.
This is an extraordinary amount of severance for one person to receive. However, it gets worse. Dr. McGuire earned the nickname "Dollar Bill" for a good reason. In April of 2006, even the Star and Tribune got on his case for money grubbing:
"'Dollar Bill' has made lots of news with cash-and-stock paydays that have topped $100 million in recent years -- and he's still sitting atop stock options valued at $1.6 billion. McGuire's admiring outside board members -- 10 of whom have become millionaires through the sale of their own appreciated stock in recent years -- have defended his league-leading compensation on grounds that the giant health insurer's stock price has been a superb performer."
At a time when many of the working folks were struggling with rising health premiums, this miser was sitting on over a billion dollars of options! It does not end here. Don't forget Lois Quam. Quam is married to Matt Entenza, a staunch DFL minion who ran for governor in 2010. Matt did not win the party endorsement so he did not have enough money to launch a huge campaign. So he had his wife help out. Even though she did not make as much as "Dollar Bill", she still made an extraordinary amount of money from UnitedHealth. She has since left UnitedHealth with a severance which is probably higher than most will ever see or receive.
Then the unthinkable happened. According to an announcement on AMEDNEWS.com:
"The country’s largest private health plan is getting bigger, by nearly 3 million members and $1.4 billion in income during the next five years, thanks to a contract to administer Tricare benefits for active and retired service members and their families."
Since the transition to UnitedHealth, things have gone terrible for vets who rely on Tricare for service benefits. Many think UnitedHealth "bought in" to the contract. My own experience with UnitedHealth on Tricare Prime has been bad. Slow response, inconsistent answers. To make matters worse, I recently received a letter informing me I would be dropped from Tricare Prime on October 1st, because "I live in the wrong area". After 21 years in the Navy, I earned that benefit. UnitedHealth and I are now at war.
I have no use for this company. As a citizen, as a vet, I will do whatever I can to make ensure they follow their new government contract the letter of the law. Our vets deserve better than UnitedHealth - so, so much better.
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