10 highest-paid CEOs of medical insurance firms

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Clover Well being Investments CEO Vivek Garipalli used to be the best paid CEO of any publicly traded U.S. medical insurance corporate in 2021, a Friday document through S&P World Marketplace Intelligence discovered. In the meantime, former Centene CEO Michael Neidorff used to be the one person who skilled a lower in repayment 12 months over 12 months even supposing in contrast to Clover Well being, Centene’s inventory in fact higher within the earlier 365 days.

The score is in response to overall adjusted repayment of CEOs for firms that earn a big share of income from controlled care premiums and are indexed on one of the vital primary U.S. inventory exchanges as of Dec. 31, 2021. Knowledge used to be compiled on August 17.

Garipalli selected to forgo any repayment but even so fairness awards for 2020 and 2021. On the other hand, he won $389.6 million in shares in 2021. Clover Well being introduced in August that he’s going to go away as CEO in 2023, however will paintings with the corporate as its government chairperson. Previously 365 days of Garipalli’s tenure, the corporate’s inventory has misplaced greater than part of its price — falling to a low of $2.93 on Monday from a top of $8.12 on Aug. 23, 2021.

The second one-highest paid CEO used to be Vibrant Well being Crew’s George Mikan. His repayment reached $180.8 million in 2021, a greater than 3,000% building up from $5.5 million in 2020. Mikan won $2.3 million in money repayment, $94.8 million in fairness and $83.7 million in choices granted. Vibrant Well being Crew’s inventory has plummeted prior to now 365 days — falling from $10.31 on August 23, closing 12 months to $1.67 on Monday.

Oscar Well being CEO Mario Schlosser had the 3rd best pay with $60.8 million. He additionally had the most important share alternate 12 months over 12 months, rising his repayment through a whopping 10,674.1% in 2021. He won $600,000 in 2020. Oscar Well being’s inventory used to be at $6.98 on Monday, a lower from $12.99 on August 23, 2021.

Mikan had the second-largest share alternate, the document discovered. Alignment Healthcare CEO John Kao used to be 3rd with $46 million in 2021, a 1,093.7% building up from $3.9 million in 2020. Alignment’s inventory fell to $15.9 on Monday from $17.88 on August 23, 2021.

Neidorff, former Centene CEO who died in April, used to be the one with a lower in repayment 12 months over 12 months. His pay fell 17.3% in 2021 to $20.6 million, in comparison to $25 million in 2020. Centene’s inventory used to be $96.8 on Monday, an building up from $64.53 on August 23, 2021.

Under are the ten best paid CEOs at U.S.-listed well being insurers in 2021:

  1. Vivek Garipalli, Clover Well being Investments: $389.6 million (inventory diminished to $2.93 on Monday from $8.12 on August 23, 2021)
  2. George Mikan, Vibrant Well being Crew: $180.8 million (inventory diminished to $1.67 on Monday from $10.31 on August 23, 2021)
  3. Mario Schlosser, Oscar Well being: $60.8 million (inventory diminished to $6.98 on Monday from $12.99 on August 23, 2021)
  4. John Kao, Alignment Healthcare: $46 million (inventory diminished to $15.9 on Monday from $17.88 on August 23, 2021)
  5. Michael Neidorff, Centene: $20.6 million (inventory higher to $96.8 on Monday from $64.53 on August 23, 2021)
  6. Joseph Zubretsky, Molina Healthcare: $20 million (inventory higher to $329.5 on Monday from $262.82 on August 23, 2021)
  7. David Cordani, Cigna: $19.9 million (inventory higher to $291.5 on Monday from $203.89 on August 23, 2021)
  8. Gail Boudreaux, Elevance Well being: $19.3 million (inventory higher to $507 on Monday from $373.13 on August 23, 2021)
  9. Andrew Witty, UnitedHealth Crew: $18.4 million (inventory higher to $544.57 on Monday from $419.75 on August 23, 2021)
  10. Bruce Broussard, Humana: $16.5 million (inventory higher to $500.92 on Monday from $411.67 on August 23, 2021)

Particularly, within the checklist above, the so-called disruptors of the insurance coverage business are those whose CEOs seem to be profitable financially despite the fact that their inventory efficiency has left a lot to be desired.

Image: Feodora Chiosea, Getty Pictures

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