Anthem chief to get merit pay of $42.5 million
Title: Anthem chief to get merit pay of $42.5 million
Source: Indianapolis Star
Date: April 6, 2004
Anthem is a health care provider. According to the article, Anthem's CEO, Larry C. Glasscock, "will receive a $42.5 million stock-and-cash award" on top of his "salary, bonus and other compensation of $3.73 million."
This sort of unbelievable compensation is a primary force driving health care costs up so dramatically. From the article:
- Sidney Bobb, of Plainfield, who is covered by Anthem under a policy earned by his wife, Judy, a retired schoolteacher with Avon Schools, said he's complained to Anthem in e-mails about boosting its executives' pay while raising his annual premiums from $6,000 in 2001 to $8,000 this year. Anthem also raised the couple's co-pay to see a doctor to $25 from $10 a visit, he said.
'We're the one making that stock double like that,' he said. 'We're the ones paying for all that' money in executive salaries.