Washington, DC (PRWEB) August 14, 2013
In its annual review of executive compensation based on data gathered from state insurance departments, The AIS Report on Blue Cross and Blue Shield Plans* reports in its recently published August 2013 issue relatively modest salary increases between 2011 and 2012 for Blues plan CEOs, but many of them took home substantially larger bonuses and other forms of compensation. Current and departing CEOs from the 35 Blues plans analyzed collectively earned about $120 million in total compensation in 2012 — up nearly 30% from $93 million in 2011.
Some of the largest compensation increases, The AIS Report found, were for nonprofit Blues plan CEOs in Nebraska (104%), Alabama (74%) and New Jersey (64%). But not all Blues plan CEOs took home fatter paychecks in 2012. Some saw double-digit decreases from the prior year. After a near-20% total compensation increase between 2010 and 2011, Wellmark, Inc. CEO John Forsyth’s total compensation fell about 16% in 2012. Cigna Corp.’s CEO David Cordani saw a 33% decrease in salary in 2012 to $12.9 million because of a more than $7 million drop in incentive compensation.
CEOs of at least eight Blues plans retired or resigned in 2012, with many of them taking generous compensation packages. Former WellPoint, Inc. CEO Angela Braly, who resigned last August, took home more than $19.4 million in compensation on top of her $1.2 million salary in 2012 — a 55% increase from her 2011 compensation.
Visit http://aishealth.com/archive/nblu0813-01 to read the article in its entirety, which also includes a table of top Blue Cross Blue Shield Plan executives ranked by total 2012 compensation.
About The AIS Report on Blue Cross and Blue Shield Plans
The AIS Report on Blue Cross and Blue Shield Plans delivers timely news and insightful analysis of new products, market share, strategies, conversions, financing, profitability and strategic alliances of Blue Cross and Blue Shield plans, which are major players in every U.S. health insurance market. The 12-page monthly newsletter is must-reading for plan managers and others who consider BCBS plans to be partners or competitors. Visit http://aishealth.com/marketplace/ais-report-blue-cross-and-blue-shield-plans for more information.
*A thoroughly objective publication, The AIS Report on Blue Cross and Blue Shield Plans is published independently by AIS and is not affiliated with or sponsored, endorsed or approved by the Blue Cross Blue Shield Association or any of the independent Blue Cross and Blue Shield companies.
About Atlantic Information Services
Atlantic Information Services, Inc. (AIS) is a publishing and information company that has been serving the health care industry for more than 25 years. It develops highly targeted news, data and strategic information for managers in hospitals, health plans, medical group practices, pharmaceutical companies and other health care organizations. AIS products include print and electronic newsletters, websites, looseleafs, books, strategic reports, databases, webinars and conferences. Learn more at http://www.AISHealth.com.