Welcome to our second annual review of health plan CEO compensation.
We reviewed the 2009 compensation packages of the CEOs of the seven largest health insurance companies. Only one--HealthNet's Jay Gellert--earned less than $6.5 million last year.
But the going wasn't easy. The health insurance industry is among one of the most heavily scrutinized--by the press and federal regulators. Most recently, WellPoint and CEO Angela Braly have faced intense criticism for their unusually high rate hikes and a rescission scandal involving breast cancer patients. Braly's generous 2009 compensation package has roused even more ire from critics. Still, her salary pales in comparison with two of her well-placed colleagues--Ron Williams and Allen Wise.
According to Fortune 500's 2010 list, the top seven health insurance companies in terms of overall revenues include:
1. UnitedHealth Group - $87 billion
2. WellPoint - $65 billion
3. Aetna - $34.7 billion
4. Humana - $30.9 billion
5. Cigna - $18.4 billion
6. Health Net - $15.7 billion
7. Coventry Health Care - $13.9 billion
We ordered our list a little differently; according to the overall compensation of each organization's leader. Click on each name below to get a more detailed look into the pay packages for each executive.
1. Ron Williams, Aetna
2. Allen Wise, Coventry Health Care
3. Angela Braly, WellPoint
4. Stephen Hemsley, UnitedHealth Group
5. David Cordani, Cigna
6. Michael McCallister, Humana
7. Jay Gellert, Health Net