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Old Blue Posts Modest Earnings and a Record $11 Million Executive Compensation Package for One Executive fired in 2009.
Old Blue made the news as local media outlets annouced the former CEO's compensation package paid out in 2010 despite being fired in 2009. This fueled exposure of Board compensation which lead to Blue, Harvard and Tufts holding internal Board Member compensation discussions. I'll leave the pontification of senior management compensation to those with significantly more knowledge on the topic and focus this year's review on a comprehensive list of executives and their annual exploits. The good news is membership and profits are up at Tufts, Harvard and Health New England as they continue to widdle away opportunities from Old Blue.
Medicare Sherpa has scanned each document and placed a copy in our discussion forum. You are welcome to download and view each exhibit.
1. Blue Cross Blue Shield of Massachusetts
| Name of Executive |
2008 Compensation |
2009 Compensation |
2010 Compensation |
| Cleve L. Killingsworth, CEO and Chairman of the Board (former) |
$3,669,330 |
$1,980,070 |
$8,591,135 |
| Vinod Sahney, Senior Vice President Corporate Strategy |
- |
$661,301 |
$983,887 |
| Ann Anderson, Senior Vice President, Chief HR Office |
- |
- |
$488,059 |
| Allen P. Maltz, CFO, Treasurer and EVP |
$1,235,619 |
$791,628 |
$788,180 |
| Stephen R. Booma, EVP, Sales, Marketing Service & IT (former) |
$1,126,239 |
$3,290,181 |
- |
| Sandra L. Jesse, Chief Legal Officer, EVP and Asst. Secretary |
$997,765 |
$659,226 |
$672,949 |
| Andrew Dreyfus, EVP, Health Care Services |
$972,398 |
$698,766 |
$799,899 |
| John A. Fallon, Chief Medical Officer and SVP |
$961,082 |
$649,117 |
$647,345 |
| Robert Mandel, VP, Health Care Services (former) |
$843,198 |
- |
- |
| Maureen Coneys, SVP, Health and Wellness (former) |
$761,151 |
$1,085,261 |
- |
| TOTAL COMPENSATION |
$16,950,510 |
$9,815,550 |
$12,971,454 |
| REVENUE |
$6.7 Billion |
TBD |
TBD |
| NET INCOME |
$21.7 Million |
-$149 Million |
$13.4 million
|
| TOTAL MEMBERS |
3.4 Million |
2.9 Million |
2.9 Million
|
2. Tufts Health Plan of Massachusetts
| Name of Executive |
2008 |
2009 |
2009 |
| James J Roosevelt, Jr. , President and CEO |
$1,060,160 |
$1,150,383 |
$873,777 |
| Thomas Croswell, SVP and COO |
$603,130 |
$715,106 |
$561,041 |
| Allen Hinkle, MD, SVP and Chief Medical Officer (former) |
$592,573 |
$595,005 |
$571,867 |
| Patty Blake, SVP of Senior Products |
$557,532 |
$538,444 |
$304,897 |
| Patricia Trebino, SVP of Operations and CIO |
$519,764 |
$485,873 |
$388,450 |
| Lois Cornell, SVP of HR and General Counsel |
$494,147 |
$474,700 |
$379,516 |
| Umesh Kuprad, SVP and CFO |
$198,013 |
$441,977 |
$407,624 |
| Brian Pagliaro, SVP of Sales |
$411,819 |
$394,407 |
$315,318 |
| Robert Egan, SVP Marketing (former) |
$382,063 |
$373,927 |
$340,832 |
| David Ableman, VP and Deputy General Counsel |
$349,658 |
$336,761 |
$274,064 |
| TOTAL COMPENSATION |
$6,977,034 |
$5,506,583 |
$4,417,386 |
| REVENUE |
$2.3 Billion |
$2.5 Billion |
$2.6 Billion
|
| NET INCOME |
$21 Million |
$29.5 Million |
$64.9 Million
|
| TOTAL MEMBERS |
698,000 |
737,459 |
741,665 |
3. Harvard Pilgrim Health Care of Massachusetts
| Name of Executive |
2008 |
2009 |
2010 |
| Charles D. Baker , President and CEO (resigned July 2009) |
$1,718,691 |
$1,326,516 |
- |
| Eric H. Schultz, President and CEO (appointed Mar 2010) |
- |
- |
$795,017 |
| Bruce Bullen, COO (Interim CEO) |
$1,012,299 |
$868,645 |
$872,860 |
| Laura S. Peabody, Clerk and Secretary |
$647,378 |
$562,916 |
$547,960 |
| James William DuCharme, CFO and Treasurer |
$338,219 |
$627,453 |
$657,808 |
| Roberta H. Herman, MD, SVP and Chief Medical Officer |
$515,266 |
$588,410 |
$663,343 |
| Vincent Capozzi, SVP Sales and Marketing |
$498,489 |
$501,217 |
$525,054 |
| Gary H. Lin, SVP and Chief Actuary |
$442,305 |
$467,114 |
$449,024 |
| Deborah A. Norton, SVP and CIO |
$399,654 |
$411,737 |
$453,207 |
| Richard Weisblatt, VP Network Services |
$350,875 |
$374,297 |
$381,850 |
| Dana A Rashti, VP Marketing |
$333,314 |
$361,953 |
$380,834 |
| TOTAL COMPENSATION |
$6,648,155 |
$6,090,258 |
$5,726,957 |
| REVENUE |
$2.5 Billion |
$2.7 Billion |
$3 Billion
|
| NET INCOME |
$48 Million |
$20.8 Million |
$49.6 Million
|
| TOTAL MEMBERS |
1.06 Million |
1.09 Million |
1.13 Million
|
4. Fallon Community Health Plan of Massachusetts
| Name of Executive |
2008 |
2009 |
2010 |
| W. Patrick Hughes , President and CEO |
$602,581 |
$754,012 |
$649,581 |
| R. Scott Walker, CFO and EVP |
- |
- |
$79,456 |
| Charles Goheen, EVP & Chief Financial Officer (former) |
$477,053 |
$506,468 |
$395,582 |
| Richard Burke, Division President, Senior Care and Living |
$354,083 |
$378,345 |
$326,205 |
| Anne Doyle, EVP & Chief Compliance Officer |
$283,116 |
$290,317 |
$236,157 |
| Elizabeth Malko, Chief Medical Officer & SVP |
$253,764 |
$411,168 |
$373,327 |
| Keith Ledoux, AVP New Business Sales and Broker Relations |
$319,653 |
$288,035 |
- |
| John Monte, VP Business Support Services |
$262,405 |
$235,436 |
$282,323 |
| Dr. David Wilner, Physician and PACE Medical Director |
$296,491 |
$321,528 |
$304,496 |
| Dr. Glenn Randall, Physician and PACE Program |
$270,065 |
$292,021 |
$274,906 |
| Dr. Seth Lewin, Senior Medical Director – Medical Affairs |
$57,231 |
$288,480 |
$275,428 |
| TOTAL COMPENSATION |
$4,007,629 |
$3,765,810 |
$3,197,461 |
| REVENUE |
$1 Billion |
$1.1 Billion |
$1.1 Billion
|
| NET INCOME |
$6.7 Million |
-$29.4 Million |
-$8.8 Million
|
| TOTAL MEMBERS |
217,563 |
228,044 |
212,850 |
5. Neighborhood Health Plan of Massachusetts
| Name of Executive |
2008 |
2009 |
2010 |
| Deborah C. Enos, CEO and President |
$519,207 |
$547,379 |
$528,953 |
| Harold Putnam, CFO |
$462,114 |
$436,761 |
$439,742 |
| Paul Mendis, MD, Chief Medical Officer |
$343,017 |
$367,656 |
$432,263 |
| Marilyn Daly, Chief Information Officer |
$271,792 |
$254,825 |
$255,577 |
| Pam Siren, VP Quality & Compliance |
$262,698 |
$233,327 |
$242,796 |
| Joanne Landry, VP Operations |
$267,948 |
$249,904 |
$241,843 |
| David Segal, Chief Operating Officer |
$235,078 |
$335,948 |
$349,173 |
| Joanne Derr, VP Human Resources |
$217,563 |
$240,465 |
$241,843 |
| Carla Bettano, VP Business Development |
$234,275 |
$245,462 |
$256,607 |
| Bernadette Di Ri, Director of Sales and Membership |
$250,813 |
$260,871 |
$233,128 |
| TOTAL COMPENSATION |
$3,064,504 |
$3,172,598 |
$3,221,925 |
| REVENUE |
TBD |
TBD |
TBD |
| NET INCOME |
TBD |
TBD |
TBD |
| TOTAL MEMBERS |
187,000 |
TBD |
TBD |
6. Health New England of Massachusetts
| Name of Executive |
2008 |
2009 |
2009 |
| Peter F Straley, President and CEO |
$922,201 |
$983,127 |
$1,053,476 |
| Thomas H. Ebert, MD, VP of Chief Medical Officer |
$549,565 |
$578,219 |
$581,071 |
| Robert A. Kosier, VP Finance and CFO |
$326,302 |
$341,191 |
$364,714 |
| Donna L O'Shea, MD, Medical Director |
$267,627 |
$286,514 |
$280,973 |
| Maura C McCaffrey, VP of Marketing & Business Development |
$258,867 |
$286,578 |
$310,170 |
| Juan A. Campbell, VP of Sales |
$243,794 |
$275,656 |
$292,663 |
| James M. Kessler, VP and General Counsel |
$234,983 |
$272,180 |
$274,478 |
| Phillip M. LaCombe, VP Information Technology |
$234,294 |
$247,685 |
$260,882 |
| Amy B. Trombley, VP Human Resources |
$229,602 |
$255,696 |
$269,145 |
| Paul Lagasse, Jr., Director of Information Technology |
$157,381 |
$202,742 |
$187,716 |
| TOTAL COMPENSATION |
$3,424,616 |
$3,729,588 |
$3,875,288 |
| REVENUE |
TBD |
TBD |
TBD |
| NET INCOME |
$3.4 Million |
TBD |
TBD |
| TOTAL MEMBERS |
106,000 |
TBD |
TBD |
About the Author:
My name is Dana Cutter and I am Founder and Editor of Medicare Sherpa. Our staff spends their days searching the Internet for the best content and advice on retirement. On our site you will find articles on Social Security, Medicare Benefits,Prescription Drug Benefits and more. Please feel fee to send me an email with ideas for content, site improvements or general help launching your online persona. I hope you will consider joining and I am looking forward to reading more about you online.
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