Just a reminder that Maurice is the highest paid Healthplan CEO last year at over $40M and today he sent the most insulting, insensitive, nonsensical, uninformative email.
It’s time to replace the leadership team.
9 replies (most recent on top)
@dd The only difference between nonprofit and not for profit is whether the company exists for the benefit of the public or its members. HCSC exists for the benefits of its members, not the public, so it is a not for profit company.
Everything else most of people think of when they hear "nonprofit" applies equally to both nonprofits and not for profits.
That email smells like an outsider crafted the message. Didn’t use any of the normal buzz words….
HCSC is a not-for-profit company, not non-profit.
@a4 because the (now anonymous) board greases the CEO and the CEO greases the board. And the CEO is now Chair of the Board, too, so will be there as long as he wants. Add in the fat that this is a private company, with no external pressures such as shareholders/investors, and the executive team gets away with whatever they want.
@a6 HCSC is not for profit, not non-profit.
@a6 HCSC employees do NOT qualify for PSLF. Ask me how I know.
Why do people keep arguing on the internet - where you can easily find this information in less time than it takes to respond - about whether or not HCSC is non-profit? It is non-profit AND customer owned. They qualify under the Public Service Loan Forgiveness program because of their non-profit status.
Non-profit simply means that they have to invest surplus earnings back into the company, which can include anything from acquisitions to employee salary. Based on how organizations qualify for non-profit status, it's actually not surprising at all that the CEO of a non-profit insurance company would be the highest paid because his salary counts as "reinvesting in the company."
@a4 we are not a not for profit. We are a mutual company.
How does a nonprofit CEO outearn all the others? Especially the public health insurers?