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July 15, 2008
Why is health insurance so expensive?
I came across these numbers for CEO compensation in an AMA newsletter and have to say they seem a bit egregious. Could these companies employ more people in this country for claims review if these salaries were different?
1. H. Edward Hanway, chair, CEO, Cigna
Base pay: $1,110,000
Bonus/Nondeferred incentive pay: $17,999,970
Stock awards: $452,886
Option awards: $4,626,316
Retirement/Pension contributions: $1,618,584
Other compensation: $32,021
Total: $25,839,777
2. Ron Williams, chair, CEO, Aetna
Base pay: $1,095,785
Bonus/Nondeferred incentive pay: $1,900,000
Stock awards: $5,309,197
Option awards: $12,887,276
Retirement/Pension contributions: $1,749,414
Other compensation: $104,162
Total: $23,045,834
3. Dale B. Wolf, CEO, Coventry Health Care
Base pay: $925,000
Bonus/Nondeferred incentive pay: $3,821,226
Stock awards: $1,688,743
Option awards: $7,846,664
Retirement/Pension contributions: $122,860
Other compensation: $465,330
Total: $14,869,823
4. Stephen Hemsley, president, CEO, UnitedHealth Group
Base pay: $1,300,000
Bonus/Nondeferred incentive pay: $3,635,000
Stock awards: $0
Option awards: $8,134,691
Retirement/Pension contributions: $0
Other compensation: $94,838
Total: $13,164,529
5. Mike B. McCallister, president, CEO, Humana
Base pay: $973,558
Bonus/Nondeferred incentive pay: $1,950,000
Stock awards: $0
Option awards: $2,438,685
Retirement/Pension contributions: $4,438,993
Other compensation: $511,321
Total: $10,312,557
6. Angela F. Braly, president, CEO, WellPoint
Base pay: $922,769
Bonus/Nondeferred incentive pay: $588,311
Stock awards: $2,160,159
Option awards: $5,240,149
Retirement/Pension contributions: $3,706
Other compensation: $179,677
Total: $9,094,771
7. Jay M. Gellert, president, CEO,Health Net
Base pay: $1,180,769
Bonus/Nondeferred incentive pay: $0
Stock awards: $1,425,243
Option awards: $949,406
Retirement/Pension contributions: $0
Other compensation: $130,812
Total: $3,686,230
Source: Company filings with the Securities and Exchange Commission
Source: article authored by Emily Berry, AMNews staff. June 23, 2008.
Robin Stone, M.D.
Insight Psychiatry
13123 Rosedale Hill Ave.
Huntersville, NC 28078
704-948-3810
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