Ever wondered why it costs so much for health care? It does not appear to be because of greedy doctors and nurses. The average salary for nurses in Minnesota in 2013 was $71,160. In Minneapolis, Minnesota the median Physician – Generalist salary is $187,802 with a range usually between $162,601–$210,064. However, within Minnesota, there is a lot of variation in Physician – Generalist salaries from town to town according to Sallary.com.
The National Education Association (NEA) , reported that teachers averaged earnings of $34,025 in Minnesota; teachers in Arizona, $31,689, and $44,370 in New York in 2013.
Compare and contrast these earnings to those of United Health Group CEO, Stephen J. Hemsley who received $66.13 million in compensation in 2014, according to the Hartford Courant. The Courant calculates compensation as the sum of salary, bonuses, value gained on the exercise of stock options and the vesting of stock awards, plus other forms of direct pay. Other major executives received more than $56 million (not including millions in stock options) for this period according to the article.
The UnitedHealth Group is based in Minnetonka, Minn., and employs about 4,200 people in Connecticut at offices for UnitedHealthcare, Optum, OptumInsight and OptumHealth in Hartford, Rocky Hill, Trumbull and Windsor.