Globe Staff / February 28, 2009

The salary and bonus paid to Cleve L. Killingsworth, chairman and chief executive of Blue Cross and Blue Shield of Massachusetts, increased 26 percent last year, to $3.5 million, even though the health insurer's membership declined and its net income fell 49 percent.

Blue Cross profits, exec pay spark criticism

Posted: Mar. 4, 2009
Updated: Mar. 9, 2009
Chapel Hill, N.C. — Blue Cross Blue Shield of North Carolina, the state's largest insurer, earned $186 million last year while raising premiums on customers as the economy slid into recession.

The top six executives at Blue Cross each made more than $1 million last year, topped by Chief Executive Bob Greczyn at close to $4 million. Greczyn's annual income included a $3 million bonus and was a 23 percent increase over 2007.

And the best is Michigan. You remember Michigan.

LANSING, Mich. (AP) -- Blue Cross Blue Shield of Michigan reported pay increases for its top executives in 2008.

Blue Cross says it lost nearly $145 million in 2008, mostly on its health insurance policies sold to people who aren't covered by employer or government plans. Blue Cross wants the Michigan Legislature to change state law covering the individual market.
Blue Cross President and Chief Executive Dan Loepp's total 2008 compensation was reported at nearly $1.8 million, up from about $1.66 million in 2007.

Top executives at Blue Cross Blue Shield of Michigan were paid hundreds of thousands of dollars in bonuses in 2008 months before the state’s largest insurer announced layoffs and premium increases to policyholders.