Top executives of the five largest insurers brought home a combined $200 million last year.
The CEOs of Cigna Corp., Humana, UnitedHealth Group and WellPoint all saw increased compensation for 2009, with Cigna leaders topping the list. The insurer paid a total of $136.3 million last year to H. Edward Hanway, its former CEO, and his successor, David Cordani, according to the report.
Aetna’s CEO Ron Williams is the only CEO among the five largest insurers that experienced a cut last year. He earned $18.2 million in 2009, compared to $24.4 million the year prior, according to the report.
Some advocates denounce the pay increases, which occurred during a year when many insurers asked for rate increases from customers, according to the report.
Insurers argue that the rate increase reflect increases in healthcare costs.
Read the Los Angeles Times report on health insurer CEO pay.
