“How can Kaiser Permanente represent itself to be non-profit when, in fact, it made $1.8 billion in profit in 2004 and will pass $2 billion in profit in 2005? Only the PLAN is non-profit since it passes this huge profit on 50% to the physicians for golden retirements and 50% on to the hospitals. The […]
“The point of LTR 9810005 was for the doctors to have the promises funded, have the funds beyond the reach of creditors, have the setting aside of the funds to go untaxed, and have the investment go untaxed. In short, the doctors sought to obtain the benefits of a qualified retirement plan without the accompanying restrictions.” (Page 1462 of Tax Notes March 23, 1998 by tax expert and author – Lee A Sheppard.”
…The doctors get a printout of their stake in this fund at regular intervals. The IRS allowed the exception but only on the marginal theory that the public good might outweigh the private benefit.
To the Public: Holiday time is a favorite time for Kaiser or its network of co-enablers to release infomercials that get gobbled up by reporters who don’t want to pick up the phone to check details or otherwise delay their holiday focus, e.g., Christmas shopping. Now we have our pre-Christmas consumption that Kaiser is a heart Mecca […]