- Joined
- Oct 27, 2021
United initially opposed the ACA tremendously in the years before its passing bc they were concerned it threatened their revenue (and it did hit for a bit but they, as they say, leaned in).Fun fact: the CEO was a proponent of the ACA.
However, for you insane conspiracy theorists, Andy Slavitt (Goldman > McKinsey > Health Allies (acquired by UNH/Optum, the other half of UNH to UHC)), then CEO of OptumInsight, a data analytics segment of Optum, left United to CMS and was a heavy proponent of the ACA. He was later a public bipartisan face for the COVID initiative. His son reportedly suffered serious impacts from COVID.
As an aside if interested -
On September 8, 2020, Slavitt announced that St. Martin's Press would publish a book of his about the pandemic.[54] Preventable: The Inside Story of How Leadership Failures, Politics, and Selfishness Doomed the U.S. Coronavirus Response debuted on June 15, 2021.[55] According to the publisher, the book offers the "definitive inside account of the United States’ failed response to the coronavirus pandemic", with Slavitt detailing "what he saw and how much could have been prevented".
He was CEO for all of UnitedHealthcare, which includes Employer & Individual, Medicare, Medicaid, and several other segments.When I learned about this incident, my gut response was: "I guess it's true what they say about US health care that it's a mafia." Personally, I don't believe it was some patient/relative of a patient who exacted this revenge. Most likely the guy got eliminated because he was inconvenient to some forces.
Then I learned this tidbit that only further cemented this view:
He was named as CEO in 2021, leading United's division that deals with Medicare and Medicaid.
People that use Medicare and/or Medicaid don't expect much from their health care, let alone have money for hitmen.
However, it's very well known that Medicare/Medicaid is a feeding ground to all kinds of mafias.
Take it up with your state. In my state, terms on the marketplace are mostly better than that, and there is a lot of competition ...though if you want a better deductible, your premium is going to be higher [I agree that 5-figure deductibles are from hell; it's basically what used to be called catastrophic health insurance].Obama made this so much fucking worse it's not even funny. If you go on the internet and you see someone say something nice about the affordable care act, it means they are a fucking shill. I looked up those plans and for like a single 35 old guy, insurance was $400 dollars a month with a $12,000 deductible, and the dems wanted to make it so literally everyone in the country had to have this worthless fucking health insurance or get a huge fine (thankfully the mandate was repealed).
But what's offered is what states negotiate.
And in what state do estimators ask for age? Not any that I've seen (and no I haven't tested them all, but I've run numbers in several states, both states managing their own marketplace and those with the marketplace being managed Federally).
And the ACA was never a requirement that everyone buy on the individual marketplace.
Hate it if you want, but before the ACA, there was no/virtually no insurance for anyone not employed and not either poverty-level poor or old. Now there is. You might not like the options, and they may suck and be too expensive (as they are for all of us above state-determined Medicaid-eligibility lines and even in employer-based plans) , but they're not 0.
This is true, and one of many reasons this kind of vigilantism, and celebrating it, is capital-R Retarded.We go back to the status quo in 48hrs tops, the man will be replaced within the month officially with his position being filled literally as we speak behind closed doors. Welcome tolate-stage capitalismlife.
Uh, they have a board. As does every American corporation.The only real way for these companies to fix this is to either change the way they do business (not going to happen) or to change the structure of the company such that there is no CEO/head role anymore and direct responsibility can be eschewed from any single person and instead be blamed on a board of like 20-30 people.
And the CEO answers to the Board.
And in this case, the CEO (of UHC) answered to the BoD of UHC and reported to the CEO (of UHG/UNH), who answered to the BoD (of UHG/UNH).
Not per year, sure. But upfront comp is a piece of things, but not much of it. 20 years ago UNH stock was a bit over $30. It later dipped for a bit due to scandal, but has been nothing but radically up since. Brian was at a level even back then to receive stock grants. More every year, by huge multiples, both as he advanced and given the nature of the work he was doing, which was critical to growth (M&A, which was how the company mushroomed). Today the stock closed over $610. If the value of what he earned/was granted in 2023 alone was 9.1 million (btw, stock up > 11% just ytd) what do you think he had amassed in 20 years, moving up and stock exploding? Couldn't guess the math (though recent years' grants are probably in 10Ks/10Qs), but $200M probably isn't a terrible guess.He was not making anywhere near $200/mil per year. His total earnings including salary/stocks/etc was like $9.1 million last year.
If your point is (I am not sure it is) that maximizing shareholder profit short-term is a fool's game, I encourage you to look at UNH's max available stock chart. They've been around awhile and it's been nothing but up since a scandal in the late 2000s gave it a couple years' hit. I agree they are not a patient, measured company, but so far their aggressive approach has been a boon for shareholders.This is a bit of a canard that is thrown out all too frequently. Does a sheep farmer maximize profit by sheering and slaughtering his flock in his first year? No, you shear them for many years. Toyota built a reputation for reliability by selling solid cars that would last for a decade, which in turn earns repeat purchases and good will with potential customers.
(thank you)I almost always agree with your posts,
Accountingbut this man was, with no hyperbole or exaggeration, the CEO of being a ghoul. He majored in,
I can't disagree that the industry is inherently (as I said before) craven - or ghoulish, if you like [actuaries repulse me, ngl]. I make no apologies for that industry or that company.interned in, and decided to make a career out of ghoulery. He was so successful at this task that the council of ghouls made him head ghoul in charge. He sought out and benefitted from the consumption of the flesh of the innocent and grew fat off of it. You could reach into a fantasy novel, draw out a literal cannibalistic vampire-spawned ghoul, who can devour human flesh without limit, and you’d be hard-pressed to inflict a percentage of the human misery that this guy and the company he willingly led and represented have managed to inflict.
And I won't say, oh, but he did x or y good thing so cancels out, and I won't even say it's complicated (he was a smart man and could have changed direction if he'd wanted), and I won't even say that maybe he thought that the good he or the company did outweighed or justified the miserliness of health insurers or the strife and literal grief that dealing with them brings many.
But on a site that routinely blasts "other people" who celebrate like animals when so-and-so is toppled or murdered, I'm going to apply the same lens to the ones doing it here (or on x or wherever the hell else).
It's ghoulish no matter who does it. I didn't say anyone needed to change what they're doing, just gave my opinion of the slobbering for this particular case. I'd give the same opinion for about any other similar situation that I might have a particular, even if slim, perspective on. I've not repeated my opinion other than to respond to a couple of responses to my initial one, and now in this comment to provide some dry data about money and corporate structure.
I'm sure they will. Many people have it a billion times worse.I am sympathetic insofar as I also do not like to see families torn apart, but given his wife’s absolutely tepid response, I’m sure they’ll be fine in the long run.