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.
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