An Obamacare co-op in New Mexico has become financially insolvent, like many others across the country. But executives at the organization enjoyed ridiculously high salaries. Maybe that was part of the problem.
The Washington Free Beacon reports:
Insolvent Obamacare Co-Op Executives Paid Six-Figure Salaries
A dozen executives at New Mexico Health Connections, an Obamacare co-op, received six-figure salaries totaling as much as $450,000, the World Tribune reported.
Tax filings show that the co-op’s CEO Dr. Martin Hickey earned $450,000 and the chief medical officer Dr. Mark Epstein earned $413,000. Other top earners were Anne Sapon, the chief operating officer who earned $342,000, and Frances Torres, a primary care staffer, who earned $318,000.
According to the article, the co-op had used $77.3 million in federal government loans, was losing about $20 million a year, and finally went insolvent in June.
“The board of directors of New Mexico Health Connections resigned last year in an attempt to get the state to take control of what board members said was an insolvent organization,” the Albuquerque Journal reported.
The gravy train is over now. Where will these folks ever make such easy money again? You have to feel badly for the people of New Mexico who depended on this group for healthcare. They have to find something new now.