Washington, DC (PRWEB) September 30, 2015
Based on data supplied by state regulators in response to Atlantic Information Services, Inc.’s (AIS) The AIS Report on Blue Cross and Blue Shield Plans’ Freedom of Information Act requests and other inquiries, Blues plan CEOs collectively earned more than $26 million in salary and about $102 million in total compensation, the newsletter reports in its October 2015 issue. While some top executives saw substantial overall compensation increases, salary levels remained relatively flat in 2014 compared with prior years, according to The AIS Report. Published independently by AIS, The AIS Report 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.
Donald Gallo, a leader in Towers Watson’s health insurance team in its executive compensation practice who works closely with Blues plans, tells The AIS Report CEO compensation levels were fairly consistent between 2013 and 2014, and didn’t move much in 2015. From 2014 to 2015, base salary among all not-for-profit health plan CEOs increased 2.6%, total cash compensation grew 2.9% and targeted total direct compensation was up an average of 4%, according to Towers Watson data.
According to AIS data, Joseph Swedish, CEO at Anthem, Inc., earned the most of any Blues plan executive — despite earning 20% less than in 2013 — taking home $1.2 million in salary and more than $12 million in other compensation.
Due to tax regulations, only a handful of not-for-profit Blues plan CEOs had a base salary in excess of $1 million, according to The AIS Report — including Patricia A. Hemingway Hall from Health Care Service Corp., Daniel Loepp from Blue Cross Blue Shield of Michigan, Richard L. Boals from Blue Cross Blue Shield of Arizona, and Daniel J. Hilferty from Independence Blue Cross.
Visit https://aishealth.com/archive/nblu1015-01 to read the article in its entirety, which includes a table ranking 33 Blues plan CEOs by 2014 total 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 designed 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 is published independently by AIS and is not affiliated with or sponsored, endorsed or approved by the Blue Cross and 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://AISHealth.com.