❝ Do you ever wonder if you’re in the right industry, but the wrong profession?
Even though many major health insurance companies, like Aetna and UnitedHealth, are continuing to pull out of exchanges, most have seen their stocks nearly double since the Affordable Care Act was signed in 2010. Their executives have also cashed in with annual compensations that have been climbing alongside their companies’ stocks.
❝ Here’s what the high-rollers of health insurance get paid. We looked at publicly-traded companies, which have to reveal executive compensation in annual proxy statements submitted to the Securities and Exchange Commission (SEC). Total compensation includes salary, bonus, stock and options (valued at grant date), incentives, and other benefits.
❝ Centene’s Michael Neidorff was the highest paid CEO, making $22 million in 2016. During a three-year period from 2014 through 2016, he made $62 million.
Like other health insurance CEOs, his $1.5 million-dollar salary only represented a small fraction of his income. Most of his compensation came in the form of stock awards — around $13 million worth each year.
Centene’s stock performed the best among these companies, nearly doubling over three years. A booming stock means Neidorff takes home even more than what’s reported to the SEC.
RTFA to see who owns the biggest pies. Ah, compassionate conservatism.