The CEO of nonprofit Blue Cross Blue Shield of Michigan received $19.2 million in total compensation in 2018 — a record for the health insurer, according to the Detroit Free Press.
The compensation makes BCBS of Michigan CEO Daniel Loepp one of the highest-paid health insurance executives in the U.S. Mr. Loepp was the highest-paid CEO among all BCBS plans and ranked 7th among health insurance executives nationwide. All executives ahead of him helmed for-profit health insurers like Cigna and Aetna.
Mr. Loepp's compensation drew criticism from presidential candidate Sen. Bernie Sanders, I-Vt. However, BCBS of Michigan's board of directors said the compensation reflects Mr. Loepp's strong performance, which helped the insurer reach its targets, according to the report.