Nonprofit Health Systems Executives Get Big Pay Days For Retirement

Now Harris, a self-employed lawyer, must shop for replacement insurance. The cheapest plan she has found will cost her $238 a month. She and her husband don’t qualify for federal premium subsidies because they earn too much money, about $80,000 a year combined. “It doesn’t seem right to make the middle class pay so much more in order to give health insurance to everybody else,” said Harris, who is three months pregnant. “This increase is simply not affordable.” On balance, many Americans will benefit from the healthcare expansion. They are guaranteed coverage regardless of their medical history.

A link has been sent to your friend’s email address. 120 To find out more about Facebook commenting please read the Conversation Guidelines and FAQs This story is part of Barack Obama Government did not test health care site as needed Kelly Kennedy, USA TODAY 12:33 a.m. EDT October 25, 2013 A Health and Human Services official says the agency did not test the health exchange website as much as it needed to. The website has had problems with delays and dropped information.

Internal Revenue Service regulations cap traditional, or defined-benefit, pensions at $255,000 this year. The supplemental plans bring the executives’ pensions closer to what they would receive if the cap didn’t exist. The plans can help retain key executives, because the potential payout is forfeited if an executive leaves before the plans vest. The payouts also are double-counted. The money set aside for the retirement plan is reported as part of an executive’s total pay each year and, under new regulations, reported again when paid out. Those new regulations also require nonprofit health systems to provide more information on how they compensate their top executives. When Ed Howe, Aurora’s chief executive, retired in 2007, his retirement package was not publicly disclosed. In contrast, when Donald Nestor, Aurora’s chief operating officer, retired in January 2009, the health system disclosed that he was paid $8.2 million that year. An estimated $6.4 million of that came from his retirement plan.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s