California’s Largest Nonprofit Insurer Releases Details Of Executive Pay
This step was in response to a new state law designed to control health insurance costs.
Los Angeles Times: Blue Shield CEO Bruce Bodaken Earned $4.6 Million Last Year
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 health care insurance costs under control (Helfand, 5/26).
The Associated Press: Rates Rise, Health Insurance Execs Bank Big Bucks
Top executives at health insurance companies banked large salaries in recent years while rates rose dramatically on individual policyholders in California, according to filings with the state insurance commissioner last month. In documents posted to the state's website, Blue Shield of California reported that its chief executive officer, Bruce Bodaken, was paid more than $4.6 million in 2010. The San Francisco-based insurer raised rates on some policyholders by about 38 percent over 2010 and 2011 (Mohajer, 5/25).