Blue Shield of California, which is a nonprofit insurer, boosted pay to its executive employees by $24 million in 2012--an increase of 64 percent from the previous year, according to a confidential state audit reviewed the Los Angeles Times.
Hospital CEO pay continues to rise, outpacing overall healthcare spending in Massachusetts and, for major publicly traded hospitals, such as Tenet and Community Health Systems, ranking among the top 10 companies for CEO-worker pay disparity
The CEOs of the Big Five for-profit health insurance companies all took home at least $10 million in 2014, according to each insurers' annual filings with the Securities and Exchange Commission.
The continual rise of chief executive officers' paychecks may contribute to inequities in the U.S. economy, a progressive think tank suggests.
The chief executives of the 11 largest for-profit insurers earned more than $125 million in total compensation packages. And if insurers' stocks continue rising at their current rate, the CEOs will likely receive even bigger paydays this year, according to a commentary written for the Center for Public Integrity.
Health Care Services Corporation has been hoarding excess profits of almost $5 billion to enrich its executives instead of reimbursing members, alleges a class-action lawsuit against the major insurer.
Some of the Affordable Care Act's biggest winners have been chief executives at insurance companies who have seen their salaries and benefits skyrocket since the law passed.
WellPoint CEO Joseph Swedish earned almost $17 million during his first year on the job. His compensation package included cash, stock and perks, reported the Indianapolis Business Journal.
Cigna CEO David Cordani received a drastic increase in total compensation over the course of one year. His pay last year rose 4.5 times the amount he earned in 2012, the Hartford Courant reported.
Cigna maintains a "flawed" payment scale that has lead to gross overcompensation of its top executives, including CEO David Cordani, according to a union-based investment group. Based on this