More obscene health care info: $1 out of every $700 Americans spent went to one CEO

[c1ue]

Originally found via www.Exiledonline.com

http://wonkroom.thinkprogress.org/20...tedhealth-ceo/

Last night, CAPAF Senior Fellow Elizabeth Edwards appeared on The Daily Show with John Stewart to discuss her new book Resilience and health care reform. Edwards stressed the importance of restoring competition in health insurance markets noting that at one point, “the President of UnitedHealth made so much money, that one of every $700 that was spent in this country on health care went to pay him”:

The 1 in 700 number is probably a bit high, but the actual income made by said CEO:

CEOs like William McGuire of UnitedHealth: he earned hundreds of millions in annual bonuses in the mid-2000s ($125 million in 2004, more in 2005) along with as much as $1.8 billion in stock options (some of which was clawed back by the SEC), and a $5 million annual pension guaranteed for life

Health care spending in 2005 in the US was about $2 trillion.

The $1.8 billion in stock options is not directly derived from health care spending, but definitely is related.

Either way note that this is only 1 CEO...