Everyone out there is getting hurt in some way, the sequester, budgets, you name it, all but the CEOs of health insurance companies. $47 Million was the topper at United Healthcare, which pretty much doesn’t even resemble the way the company operated just 15 years ago with so many subsidiaries and analytics divisions. Have you also noticed that most are not participating in many state insurance exchanges with the exception of Blue Cross?
I have been in Phoenix for a few weeks and boy I can certainly see the changes here with health insurance buildings now lining the sky line and I guess they need to have places to put all the new data miners insurers are hiring right and left too. I haven’t heard of any of these folks donating either to the HHS campaign to help with healthcare reform come to think of it. BD
The highest-paid executive at each of the "Big Five'' health insurers -- UnitedHealth Group, Aetna Inc., WellPoint Inc., Humana Inc. and Cigna Corp. -- made more than $8 million each in 2012, according to filings this spring with the Securities and Exchange Commission. The CEO of EmblemHealth Inc., a nonprofit that owns ConnectiCare, also had total compensation at that level in 2011, the last year for which information is available.
Pay for top management teams -- the five highest-paid executives at each company -- ranged from $21 million at Humana to $47 million at United Health. Compensation includes salary, bonus, stock gifts and options granted that year, non-equity pay and benefits.
"People don't begrudge good incomes. But when is enough ever enough?" she asked. "Insurers are definitely feeling the pressure. How they will respond is still in question."