Taxpayer-funded Obamacare health insurance co-op’s may be running afoul of the law by giving extravagant paychecks to their top executives, according to a Daily Caller News Foundation investigation.
More than a million Americans have enrolled in the 23 non-profit Obamacare co-ops since they began in 2011. The co-ops were intended to be consumer-operated non-profits focused on delivering healthcare to the working poor and others needing health insurance.
Eighteen of the 23 co-ops paid their top executives prodigious salaries ranging from $263,000 to $587,000, according to 2013 IRS tax filings.
The high take-home pay for the “nonprofit” executives appears to violate both federal law and Obamacare rules prohibiting “excessive executive compensation.”
The co-ops were originally funded in 2011 with $2 billion under Obamacare in an experiment to provide tax-paid competition to private sector health insurance providers.
Most of the Obamacare co-op executives are paid more than members of Congress, Supreme Court justices, U.S. cabinet secretaries and the governors of all 50 states.