anyone know a good health insurance company?

[dollface41601 0]

So Sofyan has been working now for 4 weeks and he has been offered health insurance thru United HealthCare for he and i for 400$ a month....doesnt that sound a little high considering we are both so young? its covers everything....and im just wondering, does anyone know any companies who offers great insurance for cheaper rates?

Thanks

Kelly

[mrc 0]

I'm not an expert to comment on this since I've been covered by the miltary health insurance program since I was 18, but that doesn't sound too unreasonable from what I've heard from others. I have a part-time job too and I know one of the guys at work pays around 500 for his family through his insurance company. I'd think that was some sort of a family rate you two would be getting.

Hopefully someone else can chime in and give you some better info.

[Jenn! 918]

If his company is subsidizing a portion of the premium, then I doubt you'll be able to find anything as good but cheaper if you don't go through his employer. I agree that $400 is very high though, ours is only $100.

[Ban Hammer 12,829]

So Sofyan has been working now for 4 weeks and he has been offered health insurance thru United HealthCare for he and i for 400$ a month....doesnt that sound a little high considering we are both so young? its covers everything....and im just wondering, does anyone know any companies who offers great insurance for cheaper rates?

Thanks

Kelly

400 a month beats my company, it's about that for a single person

[Jenn! 918]

Wow, I didn't realize premiums were so high.

[Saddle Bronc 124]

You can try Universal Insurance Services--a portal on which you can choose the plan/company which is most suitable.

[Paul and Melanie 0]

Wow, 400 bucks is a lot! We pay $150.00 a month for my husband, myself and my two children. Try the site the PP sent you. Good luck!

[Lou Lou 1]

Depends on what your $400 gives you. Are they any deductibles? Co-pays? Any other restrictions? Going solo could be cheaper, but maybe not in the long run. Shop around and get the best deal for your circumstances, not just for price.

We pay $150 a month with no deductibles and $15 co-pay. I know OH's employer pays a huge chunk into the insurance too.

[incanada1234 0]

The thought of private health scare is getting less and less appealing.

#######! I'm turning into a liberal or something!

[Ban Hammer 12,829]

The thought of private health scare is getting less and less appealing.

#######! I'm turning into a liberal or something!

burns incanada at the stake. you heathen!

[Thingee 0]

400 for a couple per month isn't ridiculous here. If you want to shop around a bit there are several medical insurance online setups a lot like Progressive auto insurance. Just type 'individual medical insurance quotes' into the search engine of your choice. Buyer beware, the do-it-yourself insurance companies rarely cover pregnancy or any pre-existing conditions.

[incanada1234 0]

The thought of private health scare is getting less and less appealing.

#######! I'm turning into a liberal or something!

burns incanada at the stake. you heathen!

I deserve it!

Listen, if I ever - EVER - say anything even remotely positive about Billary Clinton, shoot me. I mean it.

[Nikita2Charles 31]

That is kinda hight considering it's coming from his employer, I would shop around, I am with united healthcare but I don't have half of what you mentioned as premium, I have a $20 copay for doctor visit and $10 prescription.

I am waiting for OPEN enroll to see my next options, Lot of Doctors are dropping United Health Care sine they merge or was Acuqired by Pacific care, they don't want to pay the doctors in the network, they want to reduce their payment by 30% based on their last contract in 1999, with Inflation you would think the doctor would ask for an increase but it's United health care who want to cut their pay while the UHC CEO received

almost more than $100 million compensation last year!!

How Can a $124.8 Million a Year CEO Make Health Care More Affordable?

An op-ed piece in the Providence Journal about huge pay packages for corporate CEOs mentioned the breath-taking $124.8 million total compensation of United Health Group (parent of United Healthcare) CEO William McGuire. This figure can also be found in the Forbes Special Report on CEO compensation. Here one can find that other managed care CEOs got less fabulous, but still formidable compensation, e.g., Howard Phanstiel, PacifiCare, 3.38 million; Edward Hanway, Cigna, $13.3 million; John Rowe, Aetna, $22.2 million; and Larry Glassrock, Wellpoint, $25.0 million.

McGuire's compensation was so large as to take a measurable part of this large company's net income (5%). Or to look at it from a stock-holder's (and hence, an company owner's) viewpoint, had McGuire, who is an employee, been only paid a cool million, and this money had been distributed as a dividend, it would amount to about a $0.20 per share dividend. (The current dividend is $0.03 per share.) (See company data available from Forbes as well.)

To look at it from a United employee's viewpoint, had McGuire, who is an employee, been only paid a cool million, and this money had been distributed to employees, each of the 40,000 employees could have received a bonus larger than $3000.

To look at it from the viewpoint of the health care system, the $124.8 million total compensation of a single United employee could pay the salaries of 833 general internists at current typical salaries. Or the $124.8 million could run one reasonable size community hospital for a year.

United Health Group's mission statement is "the company directs its resources into designing products, providing services and applying technologies that improve access to health and well-being services; simply the health care experience; promote quality; and make health care more affordable." (See this fact sheet.) Rather, it seems to be directing a good chunk of its resources into salaries of top management employees. How a $124.8 million CEO salary can be reconciled with a mission to "make health care more affordable" is completely beyond me.

posted by Roy M. Poses MD at 3:42 PM

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9 Comments:Look, I completely agree that no one single person is worth an eighth of a billion dollars in a year. But don't play fast and loose with the facts. In terms of salary and bonus, Dr. McGuire earned about $10 million in 2004. The rest was made from cashing in on stock options.

So what? Well, because the bulk of that money came from the selling of stock and not out of operating budgets, the result is far less onerous. $114 million wasn't diverted from patient care to pay a "fat cat."

Your arguments still apply -- how can a $10 million a year CEO make health care more affordable? In my opinion, the issue isn't with Bill McGuire or UnitedHealth Group. They are doing quite a bit to improve patient care and drive costs out of the health care system. The issue isn't even CEO compensation. The issue is with a health care system where what's best for the patient takes a back seat to what's best for the doctor, the hospital, the health plan and the employer who could ALL be characterized as fat cats controlling the purse strings.

By Don Seamons, at 3:37 PM

I suppose one could argue that the value of the stock options should have been added to Mr. McGuire's total compensation the year he got them, rather than the year he cashed them in.

But I don't understand how one could argue that the stock options were not part of his total compensation either at the time they were issued, or the time they were cashed in. I am no economist or accountant, but I am sure there are plenty who would argue that stock options clearly entail a cost to the company issuing them. If Mr. McGuire could sell his options for $115 million, then the company could have instead issued $115 million in new stock, kept the proceeds, and used them for some other purpose. By giving Mr. McGuire these options, the company gave up the opportunity to do so.

It is of course true that there are lots of other people and organizations who make money from health care. Some, unlike Mr McGuire, actually take care of patients. But very few, outside of CEOs of large health care organizations, make $1 million a year, much less $10 million. Some cats are clearly "fatter" than others.

And again, it is hard to reconcile the company's stated mission to "make health care more affordable" with the amount it pays its CEO.

By Roy M. Poses MD, at 5:35 PM

I suppose that the use of all the smoke and mirrors used to delay or deny the payment of claims made by the patient's is not to increase the bottom line of the company and therefore stock value. People are terrified of having to deal with their faceless claims adjustor.

Why is it that the claims agent can override diagnosis and treatment recommendations by licensed health care professionals?

Dr. McGuire is not the only CEO to receive obscene amounts of money for running an insurance company. Check Tenet Health Care. Parade Magazine 3/3/03. This is not a one year windfall. Check for the compensation amounts over the last decade.

The money in health care is not going to buy care for the patients of this country. Many MDs are trapped, but many are also checking out. It is a corrupt system in my opinion. It is a conflict of interest for publically traded companies to be involved in health care insurance and have all the power that they have.

By RRedfern, at 11:16 PM

Doctors are no longer allowed to practiced meicine in your best interest. Its the attorneys and the overpaid healthcare companies that run medicine.

By Anonymous, at 2:30 PM

McGuire's compensation is beyond obscene; it's rape and pillage of a variety that would make a Viking's eyes water. He alone is compensated approx 5% of the profit of an entire multi-billion dollar company. The majority is profit from stock options but as we all know from recent regulatory moves, options definitely cost the company money. Every day Dr. McGuire walks out of his office, he racks up approx half-million dollars, assuming a 5 day workweek; hope the poor fellow gets weekends off. His compensation is literally off the charts in comparison to his competitors at Aetna and Wellpoint/Anthem. Which brings us to the juicy question of why the board allows such egregious compensation. Well just look at how much the board of directors have been cashing in on their stock options (http://finance.yahoo.com/q/it?s=UNH).If I have my hand in the honey jar, why slam the lid on Dr. McGuire's greedy little fingers. Remember Donna Shalala, yes former HHS secretary under Clinton who helped almost bring your the Hilary HealthCare Plan. She must have become disillusioned with socialized medicine since she is now one of many mult-millionaire directors on Dr. McGuire's cozy board. I 'll scratch your back if.... Amazing what a few million will do to re-orient the socialist mindset in a capitalist direction. Thinks its time the boys doing the Enron investigation took a deep look into the cozy boardroom of Dr. McGuire's little cabal.

By Lars, at 11:40 PM

You argue that "If Mr.(sic) McGuire could sell his options for $115 million, then the company could have instead issued $115 million in new stock, kept the proceeds, and used them for some other purpose."

However, without an effective CEO United Healthcare could have very easily had low to no earnings, or even worse, went the way of Enron....

By AZCOM, at 12:46 AM

In order for McGuire to make this incredible amount --they have reduced the insurance of their OWN employees! Their own employees have the worst--cheapest--poorest coverage in the INDUSTRY. They allow you to go for your well person exam--but then you have to pay up to $4000 out of pocket before they kick in! Yearly! Plus the amount weekly you pay!!! THeir employees have the equivilant of NO healthcare. Who on an average salary has that much cash to pay for medical bills every year??? What type of cost of living did their employees get last year--0-2%!!!! Didn't even pay the cost of gas!!Their wages for the average employee is the lowest in the industry. Why do your claims get messed up?? Because they cannot recruit/keep good people. In an era where the top fortune 200 companies are going to UNITEDHEALTH and asking them to put together a good healthcare policy for them so they can use it to attract and retain their employees--UNITED HEALTH does the opposite. In a recent corp mtg the executives plainly said--if you don't like it ..go somewhere else..and UNITED HEALTH employees are..in droves..who is left to manage the healthcare system and claims?? What about the ongoing cost of hiring/retraining due that is passed on in soaring healthcare costS?????

By Anonymous, at 8:27 PM

I WAS AN EMPLOYEE OF PACIFICARE, NOW A UNITED EMPLOYEE THANKS TO THE SELLOUT. UNITED IS INDEED ONE OF THE CHEAPEST COMPANIES ON EARTH! WHEN I WORKED AT PACIFICARE, WE WERE ENTITLED TO BE PAID FOR UNUSED VACATION TIME WHEN WE LEFT THE COMPANY. WITH UNITED, IT IS CONSIDERED A "GRANT", NOT EARNED COMPENSATION. NOW WHEN WE LEAVE, WE MUST GIVE UP MONEY THAT COULD HAVE ADDED UP TO A FEW THOUSAND, NOT TO MENTION SOME OF THE OTHER BENEFITS THAT WE ENJOYED AS PACIFICARE EMPLOYEES. READING THIS ARTICLE STRENGTHENS MY RESOLVE TO GET OUT OF THIS MONEY GRUBBING COMPANY THAT COULD CARE LESS ABOUT QUALITY OF LIFE FOR ITS EMPLOYEES.

By alamostar, at 7:15 AM

While I can't be mad at someone else who is a CEO not an RN; I can be extremely frustrated at what the top-of-the-ladder MDs at UnitedHealthCare make based on how employees are treated. Each day I am to make a difference in a client's life. I am to make sure they are doing everything for their diagnosis, maintaining health, taking their medications, etc. Yes, it is true. United HealthCare is the first company I have worked for that does NOT take care of it's own. What I do for my patients I cannot do for myself. I cannot afford my medications, so I don't take them, or I skip days to make the RX last. I don't see my Internist to check on my blood pressure. I dont' get my lab work done to be sure the medications I do take aren't damaging my liver. I pay 2x a month for my healthcare insurance. UnitedHealthCare gives me $400 to spend on health care...that equals one chemistry lab panel, and one 15min md visit. Then I must pay several thousand to meet my out of pocket max for the year, before any insurance kicks in. In the old days, Met Life and then Metra Health did well by taking care of it's nurses...showing us healthcare mattered for it's employees, not just the clients. After purchased by UnitedHealthCare things have been downhill for the staff here. I see Kaiser nurses getting paid $30-$40 an hour...so everyone thinks that because I am a nurse I am so rich. I barely make rent, utilities, and upkeep on my old car. How many jets, lexus, and other things does one CEO really need ? Only saving thought I have is that I know where I am going when I die , and it won't be the same place where the CEOs go who put money and worldly goods first. ---oh and we employees do bring up the issues of what we need, changes we desire. Last year we talked about inability to afford our medication to a head MD who told us straight out "If you don't like it you can go somewhere else to work". That was sure supportive and caring ! The nurses and nonmedical staff are the workforce that powers the beast that pays for these CEO and head MDs salaries. It sickens us all.

By RN at UnitedHealthCare, at 1:30 PM

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Edited July 31, 2006 by Nikita2Charles