Seven of HCSC’s nine returning outside directors also received pay hikes. The raises come as HCSC, the parent company of Blue Cross plans in five states, posted net income of $4.1 billion in 2018. The net income included a hefty tax refund.
The pay hikes may face criticism as healthcare and health insurance costs rise for consumers. Katherine Hempstead, a senior policy adviser at the Robert Wood Johnson Foundation, told Crain’s Chicago Business: “When consumers get unhappy with some segment of the economy, they start to look at how much the people who run those companies get paid. Healthcare is having a pretty long moment where people think it costs too much.”
Read the full report here.
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