The great Footnoted.com–home of the nerdy readers of corporate SEC filings–notes the striking number of executive compensation contracts that include lifetime healthcare benefits. Landec Corp., for example, just agreed to pay healthcare premiums for company chief executive Gary Steele (who makes about $900,000 in cash annually) and his spouse until age 65. After that, the company will pay Steele and spouse’s Medicare Part B, Part D and supplemental premiums for life.
Corporate Research Group’s Weblog
Inside view on the business of healthcare
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It is good to see CEOs obtain the lifetime health care benefits they have earned. It is not good to see lifetime health care benefits gifted unto people who have not earned them.