After several years of questions about executive pay coupled with criticism surrounding the insurer's transparency, Blue Shield of California has issued a detailed report of its top 10 executive salaries in 2015.
Last year was a pivotal one for the country's five largest health insurers, as months of negotiation culminated in the Aetna-Humana and Anthem-Cigna mega-mergers. It also was a good year to be an executive at the "big five" payers, as total compensation rose for 4 out of 5 CEOs.
Humana's move to tie executive compensation to members' health outcomes may actually help protect its leaders' bonuses amid less-predictable profits, according to the International Business Times.
Salary increases for two senior executives who oversaw the implementation of Maine's once-burgeoning consumer operated and oriented plan are being scrutinized after the plan lost millions last year, leading to administrative cuts and premium hikes, according to the Portland Press Herald.
Amid the industry's shift to performance-based provider payments, one health insurer is taking the trend a step further by tying executive bonuses to members' health outcomes.
Though its losses in the individual market grew, Blue Cross and Blue Shield of North Carolina rebounded from a multimillion-dollar loss in 2014 by posting a small profit in 2015, the insurer announced.
CEO Paul Markovich has pledged to improve Blue Shield of California's service to members and disclose more about its executives' compensation as the insurer faces continued scrutiny from both consumer advocates and the state, the Los Angeles Times reports.
Though consumer operated and oriented health plans around the country have struggled and even folded, some of their leaders appear to have been well-compensated.
Hospital chief financial officers must focus on labor cost--both from staff and executives--and ask relevant questions in order to keep costs under control, according to an opinion piece in Healthcare Finance News.
When WellPoint named Joseph Swedish its new CEO back in 2013, the insurer announced Swedish's salary right off the bat--$1.25 million in salary and as much as $3.75 million in bonuses.