Phoenix Health Plans Cut Commissions from 6% to 0

[bobson]

HealthOP board president Chuck Holum expressed regret about the payment stoppage.

"I feel terrible about this too," he said. "The brokers helped us succeed."

Bet his pay stays the same.

Should look for a job as CEO of a co-op, easy job it looks like.

Make up premiums with the hope the feds bail you out. When they don't just say, 'oh well' and shut down. I wonder what his compensation was?

 

[RayNY]

Make up premiums with the hope the feds bail you out. When they don't just say, 'oh well' and shut down. I wonder what his compensation was?

CEO makes about $210,000 between salary and bonus. 2.5% salary raise and a $15k bonus *after* the company was failing. CTO gets $165k, CFO $165k, COO $165k, Director of Partner engagement $130k, and $125k to small business program manager (not counting bonuses...)
Colorado health exchange workers are paid more than similar positions in three other states - The Denver Post

I believe board members (like Holum) are paid as "consultants". They listed a bit over $3m in consultant fees for 2013. There's 11 of them, so I assume the quarter million ballpark each.

Consulting is 1/3rd of total expense, more than the entire "salary" expense for the company (which includes those execs, plus all the front-line and back-office staff), and the single largest admin expense of the co-op.

http://cohealthop.org/wp-content/uploads/2014/12/Financial_summary_final_2013.pdf

Then again, it's only a drop in the bucket compared to the 9-figure losses.