BCBS CEOs acquired larger raises in 2020 than execs at for-profit insurers, report says

CareSource CEO Erhardt Preitauer’s 21{9408d2729c5b964773080eecb6473be8afcc4ab36ea87c4d1a5a2adbd81b758b} year-over-year drop represented the biggest pay lower amongst insurers, together with his complete compensation falling to $1.8 million in 2020. CareSource didn’t reply to an interview request. However Preitauer was not the one insurer government to see his pay fall in 2020.

4 of the six CEOs on the largest publicly traded well being insurers noticed their complete compensation lower in 2020 in contrast with 2019. Solely Cigna Corp. CEO David Cordani and Anthem’s Gail Boudreaux noticed their compensation rise year-over-year.

Cordani acquired a 3.2{9408d2729c5b964773080eecb6473be8afcc4ab36ea87c4d1a5a2adbd81b758b} year-over-year increase to $19.9 million in 2020, together with a $189,898 change in pension and deferred compensation increase, AIS mentioned. Boudreaux’s compensation rose 10.5{9408d2729c5b964773080eecb6473be8afcc4ab36ea87c4d1a5a2adbd81b758b} to $17.1 million in 2020. Most of their pay will increase will be credited to an increase of their firm’s inventory worth, which contributes to their complete compensation, AIS mentioned. Neither insurer responded to an interview request.

Whereas Centene CEO Michael Neidorff earned the highest wage amongst all insurers in 2020, his compensation nonetheless fell 5.6{9408d2729c5b964773080eecb6473be8afcc4ab36ea87c4d1a5a2adbd81b758b} to $24.9 million on the finish of the 12 months. AIS credited Neidorff’s drop to a fall in his inventory award, which dipped from $16.9 million in 2019 to $14.9 million in 2020.

Researchers analyzed information from state insurance coverage departments and U.S. Securities and Trade Fee filings. CEOs complete compensation contains their base wage, bonuses, inventory awards and extra.

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