A Shrill Health Insurance Chief Goes in for the Kill

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

UnitedHealth CEO David Wichmann doesn’t much like all the talk going around these days about “Medicare for All.” In comments to stock analysts earlier this month, Wichmann intoned that proposals for Medicare for All would, if enacted, “destabilize the nation’s health system” and “surely have a severe impact on the economy and jobs.” He’ll likely prove right about the severity of that impact on his job. Medicare for All proposals introduced by Senator Bernie Sanders and Rep. Pramila Jayapal envision absolutely no role for private insurance execs who take home $83.2 million a year, Wichmann’s 2017 realized compensation. Share prices at UnitedHealth have nosedived since Sanders introduced his latest Medicare for All bill, as have shares at other big insurers. Their gravy train is clearly slowing. But what lush gravy that train has carried! Over the last decade, a business group has reported, average executive pay at leading U.S. health insurers has been growing at an annual 13 percent rate.

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Sam Pizzigati edits Too Much, the online weekly on excess and inequality. He is an associate fellow at the Institute for Policy Studies in Washington, D.C. Last year, he played an active role on the team that generated The Nation magazine special issue on extreme inequality. That issue recently won the 2009 Hillman Prize for magazine journalism. Pizzigati’s latest book, Greed and Good: Understanding and Overcoming the Inequality that Limits Our Lives (Apex Press, 2004), won an “outstanding title” of the year ranking from the American Library Association’s Choice book review journal.

Posted In: Union Matters

Union Matters

He Gets the Bucks, We Get All the Deadly Bangs

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

National Rifle Association chief Wayne LaPierre has had better weeks. First came the horrific early August slaughters in California, Texas, and Ohio that left dozens dead, murders that elevated public pressure on the NRA’s hardline against even the mildest of moves against gun violence. Then came revelations that LaPierre — whose labors on behalf of the nonprofit NRA have made him a millionaire many times over — last year planned to have his gun lobby group bankroll a 10,000-square-foot luxury manse near Dallas for his personal use. In response, LaPierre had his flacks charge that the NRA’s former ad agency had done the scheming to buy the mansion. The ad agency called that assertion “patently false” and related that LaPierre had sought the agency’s involvement in the scheme, a request the agency rejected. The mansion scandal, notes the Washington Post, comes as the NRA is already “contending with the fallout from allegations of lavish spending by top executives.”

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Corruption Coordinates

Corruption Coordinates