BC/BS Compensation in North Carolina ONLY

[My comment: If the CEO's would drop their salaries even 1% and/or other 'compensation', do you realize how many people could afford insurance without HCR? They are no better than company CEOs in the banking industry, or even in the public sector.)

The compensation packages are for the executives in 2009.

http://pulse.ncpolicywatch.org/wp-content/uploads/2010/03/bcbs-Supplemental-Comp-Exhibit-12-31-09.pdf

I may be duplicating info here from my last posting, but thought some plain English would be easier.

United HealthCare:

The UHG CEO's base salary was $1.3 million in 2008, to go along with a non-equity incentive plan compensation worth just over $1.8 million and "other compensation" amounting to slightly more than $119,000. 

Hemsley's other compensation was a combination of the company matching his contributions under the 401(k) plan and the company matching contributions under his executive savings plan. According to the SEC, "in May 2006, the amount of Hemsley's supplemental retirement benefit was frozen based on his current age and average base salary and converted into a lump sum of $10,703,229." Because of this, "there was no increase in the benefit payable to Mr. Hemsley under his supplemental retirement benefit" in 2008. 

Aetna:

Apr. 23--Aetna Inc. Chief Executive Ronald A. Williams got $3.14 million in compensation for 2008 and was awarded stock rights that could be worth an additional $10 million, the company disclosed Wednesday.

Williams was also granted 84,813 performance stock units, which are initially valued at $4.3 million. But they will only vest in February 2010 if the company attains compound annual growth of 15 percent in earnings per share over the 2008-09 period.

Williams' $3.14 million pay package in 2008 included $1.09 million of salary and an annual bonus of $1.95 million, which was slightly higher than his $1.9 million bonus in 2007. He also had $101,487 of other compensation in 2008, which included the company's match to a 401(k) plan, and personal use of corporate vehicles and aircraft.

 CIGNA:

H. Edward Hanway - CIGNA

Total Compensation: $12,236,740

Details: Hanway took a significant pay cut from 2007 to 2008, due mainly to a drop off of more than $11 million in his non-equity incentive plan compensation. Still, his base salary of $1,142,885 surpasses that of Aetna's Williams, and is supplemented by just over $3.6 million in option awards, and just over $820,000 in non-qualified deferred compensation earnings. 

Also, nearly $21,800 in "other compensation" included the use of a company car with a driver, in-office meals, and emergency assistance services relating to medical exams. 

 Humana:

INDIANAPOLIS—Humana Inc. Chief Executive Michael B. McCallister saw his total compensation fall 19 percent last year to $5.2 million, the majority of it in the form of stock options that are now worthless because the health insurer's stock has fallen.

Louisville-based Humana raised McCallister's salary more than 4 percent to $1.02 million last year. But the insurer did not award cash bonuses to top executives because Humana missed an annual earnings-per-share goal of $5.45, according to a proxy statement filed Tuesday with the Securities and Exchange Commission.

The insurer recorded a profit of $647.2 million, or $3.83 per share. That represented a 22 percent drop from $833.7 million in 2007.