Executive welfare
I have been udergong treatment for lung cancer and have gained a new respect for those who have undergone treatment. Not only a traumatic emotional experience it also is a very expensive one. I have no idea how a person without medical insurance can afford treatment. Although even with insurance the co-pays can be devastating. Note; there are agencies that offer help with expenses if one qualifies.
I started researching the cost and what I found was very disturbing. A number of insurance companies classify cancer drugs, or the more expensive drugs, as a tier 4 drug and there are companies that have a tier 5. What this means is the co-pay becomes a percentage of the negotiated cost. This could range from 20 to 33 percent. In one way I can understand since these drugs run thousands of dollars.
The issue is the cost of the drugs and although I’m sure research can be very costly I was shocked to find the executive compensation. I’m sure it plays a part in the high cost. In researching four major drug companies compensation for the top executives it was shocking. The five top executives for the four companies I researched, a total of 20 employees, in 2015 received $200.78 million in compensation ($242.58 million in 2014). A number of perks most likely are not included in the compensation.
We often hear the term corporate welfare and I also think it is appropriate to call it executive welfare, although I feel it should be called obscene.