Category Archives: chief

Obamacare Co-Ops Hid Millions In Exec Pay, Consulting Fees

An interesting article in the Daily Caller:

Many of the Obamacare health insurance co-ops are either burying in obscure tax return footnotes vital information about extravagant compensation paid to their top executives or they’re simply not bothering to report it at all,  according to a Daily Caller News Foundation investigation.

Among the worst offenders is the Chicago-based Land of Lincoln Mutual Health Insurance co-op, which reported that its chief executive officer, Daniel Yunker, was paid only $79,00o and chief financial officer Dennis Rizzo earned a mere $50,000 for 2013.

Land of Lincoln also claimed that Yunker earned only $3,956 and Rizzo $5,425 from “related nonprofits.”

William Donahue, the COO appeared to be the top earner at the co-op, earning a modest $165,000.

Left unstated were Yunker and Rizzo’s salaries at the Metropolitan Chicago Healthcare Council, the co-op’s official sponsor, was $460,186 for Yunker and $286,409 for Rizzo.

That made Yunker’s actual total annual salary $543,000, not $79,000, and $341,000 for Rizzo, not $50,000. Similarly, the co-op claimed on its tax return that its chairman, Kevin Scanlan, received zero dollars from a “related group” when in fact the MCHC paid Scanlan $916,403.

Read the rest

Article written by: Tom White