Lonesome Tree in Sandhills

Thursday, August 13, 2009

Health Care Reform - Part I-A: Insurance CEO Compensation

I encourage you to watch the video in the sidebar where Wendell Potter, former V.P. of Public Relations for CIGNA, explains how he came to have a crisis of conscience and blew the whistle on how these executives operate the major insurance companies.  He testified before a Congressional Committee as to their practices & is now speaking out about their PR that is threatening to block reform.  Whistle-blower: Health care industry engaging in PR practices (CNN.com 8/13/09).

Below is a list of insurance CEO's and compensation in 2008 - taken from SEC filings by healthcare management & recruiting firm, Fierce Health CareLeading health plan CEO paychecks (5/14/09).  The amounts do not include perks like corporate jets, memberships in country clubs, or security services.
2008 Total CEO compensation (SEC filings):
Ron Williams - Aetna   $24,300,112
H. Edward Hanway - CIGNA  $12,236,740
Angela Braly - WellPoint  $  9,844,212
Dale Wolf - Coventry Health  $  9,047,469
Michael Neidorff - Centene  $  8,774,483
James Carlson - AMERIGROUP  $  5,292,546
Jay Gellert - Health Net  $  4,425,355
Richard Barasch - Universal American $  3,503,702
Stephen Hemsley - UnitedHealth Group $  3,241,042
Karen Ignagni, AHIP (2007 total comp) $  1,580,000
(America's Health Insurance Plans)

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