While the rest of us are struggling to make ends meet United Health Group Inc. and their CEO Stephen Hemsley are raking in the dough.
The Associated Press
UnitedHealth earned $859 million, or 73 cents per share, for the quarter that ended June 30. That's up from $337 million, or 27 cents per share, a year earlier. Last year's second-quarter results included settlements in two class action lawsuits.
Revenue rose to $21.66 billion from $20.27 billion on increased premiums, which grew partly due to price increases. UnitedHealth is the largest commercial health insurer based on revenue.
The company trumped Wall Street expectations for both revenue and profit. Analysts polled by Thomson Reuters forecast, on average, a profit of 70 cents per share on revenue of $21.77 billion.
I guess we can call Stephen Hemsley the United Health Group Inc. CEO, the $5,000,000 man.
Total compensation: $5,029,838 for the year ended Dec. 31
Non-equity incentive pay: $3,635,000
Other compensation: $94,838