No, they aren't allowed to include benefits in the salary posted in CA. Also CoL is largely irrelevant to physician salaries as does not directly influence pay. If anything, physician salaries often inversely correlate with cost of living, with physicians living in lower cost of living areas usually make more money because it's harder to recruit physicians to those areas. Physicians in Alaska, Wyoming, Montana, North Dakota, South Dakota etc tend to get make a lot more than physicians in NY for example. And CoL is higher in the SF Bay Area and the kaiser pay is lower there than in So Cal. SCPMG also has a K1 rather than W2 payment model is my understanding.
The fact is that Kaiser struggles to recruit and retain psychiatrists in CA outside of the major metro areas and has to pay a premium to entice psychiatrists of which they have a higher demand for because they cover millions of insured beneficiaries and have come under significant scrutiny from the state for inadequate mental health care, multiple prolonged strikes from the non-physician mental health workforce, negligent care, various lawsuits. These factors put pressure on kaiser to show they are making an effort to hire psychiatrists. Because of similar scandals, correctional and state hospital jobs often pay well in CA too, so Kaiser has to compete with DSH and CDCR. This all has a knock on effect on other employers which has dramatically increased psychiatrist compensation in CA over the past 10 years which then in turn puts pressure on kaiser to further distinguish themselves in order to recruit.
They are a good option for some people, especially if you can work there for a large part of your career to reap the partnership and retirement benefits and work your way up leadership. Like any big organization, there is huge variation in workload and quality of life depending on location and specific jobs.