Here are the 2010 and 2011 net earnings of each health insurer in addition to the 2011 compensation of each health insurer’s CEO, according to the report:
|
Health Insurer |
2011 Profit |
2010 Profit (Loss in Parenthesis) |
CEO Compensation in 2011 |
|
Blue Cross Blue Shield of Massachusetts |
$136.1 million |
$13.4 million |
* |
|
Harvard Pilgrim |
$93.5 million |
$49.6 million |
Eric Schultz: $1.2 million |
|
Tufts Health Plan |
$87.6 million |
$58.8 million |
James Roosevelt Jr.: $1.7 million |
|
Fallon Community Health Plan |
$38.5 million |
($8.8 million) |
W. Patrick Hughes: $810,000 |
*Last year, BCBS of Massachusetts paid former CEO Cleve Killingsworth $11 million in total compensation after he abruptly resigned. Current CEO Andrew Dreyfus said in 2011 he would limit his salary to $800,000, including incentive pay.
Operating margins at each of the health insurers were: 0.7 percent for BCBS of Massachusetts, 3.3 percent for Harvard Pilgrim Health Care and 2 percent for Tufts Health Plan. In the third quarter of 2011, the operating margin for Fallon Community Health Plan was 3.2 percent.
More Articles on Health Insurers:
Cigna CEO’s Compensation Rises 27% From Last Year
Cigna Website Will Show Prices of More Than 200 Hospital Procedures
Blue Shield of California Demands $10.5M in Damages From Physician Group
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
