• November 30, 2021

BCBS CEOs obtained greater raises in 2020 than execs at for-profit insurers, report says

Oct 13, 2021

CareSource CEO Erhardt Preitauer’s 21% year-over-year drop represented the most important pay lower amongst insurers, along with his whole compensation falling to $1.8 million in 2020. CareSource didn’t reply to an interview request. However Preitauer was not the one insurer govt to see his pay fall in 2020.

4 of the six CEOs on the largest publicly traded well being insurers noticed their whole compensation lower in 2020 in contrast with 2019. Solely Cigna Corp. CEO David Cordani and Anthem’s Gail Boudreaux noticed their compensation rise year-over-year.

Cordani obtained a 3.2% year-over-year increase to $19.9 million in 2020, together with a $189,898 change in pension and deferred compensation enhance, AIS stated. Boudreaux’s compensation rose 10.5% to $17.1 million in 2020. Most of their pay will increase may be credited to an increase of their firm’s inventory worth, which contributes to their whole compensation, AIS stated. Neither insurer responded to an interview request.

Whereas Centene CEO Michael Neidorff earned the highest wage amongst all insurers in 2020, his compensation nonetheless fell 5.6% to $24.9 million on the finish of the 12 months. AIS credited Neidorff’s drop to a fall in his inventory award, which dipped from $16.9 million in 2019 to $14.9 million in 2020.

Researchers analyzed knowledge from state insurance coverage departments and U.S. Securities and Alternate Fee filings. CEOs whole compensation consists of their base wage, bonuses, inventory awards and extra.

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