Blue Shield CEO Bruce Bodaken Earned $4.6 Million Last Year

[herring_RN, ASN, BSN]

[color=#930000]may 26, 2011

for the first time, california's largest nonprofit health insurer has released the salaries of its 10 highest-paid executives in response to a new state law intended to keep healthcare insurance costs under control.

the top earner at blue shield of california was chief executive bruce bodaken, who made $4.6 million last year-more than four times the salary of his counterpart at the state's largest for-profit insurer, anthem blue cross....

http://www.latimes.com/health/healthcare/la-fi-insurer-executive-pay-20110526,0,264582.story

[dp1200]

Goes to show that for-profit, competitive insurance providers are better at cost-containment than supposed "non-profits", eh?

[herring_RN, ASN, BSN]

maybe he was embarrassed into doing something positive?

[color=#1f5291][color=#1f5291]blue shield of calif. plans net revenue cap, refund

[color=#1f5291]by gregg blesch

posted: june 7, 2011 - 12:15 pm et

blue shield of california, san francisco, has pledged to cap net revenue at 2% and refund $180 million, the sum the company's earnings exceeded that bar in 2010.

bruce bodaken, the company's chairman and ceo, explained the unusual move as a way to make health insurance more affordable. "we know now that expanding access to coverage is not enough," he said at a news conference.

blue cross executives said they hope the move inspires other insurers and providers to consider a similar move. "everyone is going to need to do the kind of soul-searching we've done," bodaken said.

http://www.modernhealthcare.com/article/20110607/news/306079960?allowview=vw8xumo5q21tcwjob1gzb0tnn3rlz0h0mwg5svgra3nzrzror3l0wwrmzmjvdjbhrwxinutpqzmywmv0ntnzwupicwg=

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