When Gail Boudreaux was passed over for Patricia Hemingway Hall for the
CEO spot at Blue Cross & Blue Shield of Illinois' parent company, she received a payout of $15.3 million.
According to a Crain's Chicago Business report," the payout included a
$5-million bonus and $9.9 million in "other compensation" for the
former executive vice-president."
But it gets worse.
While health care costs have been rising, forcing Illinois families to choose between coverage and groceries, the former CEO, Raymond McCaskey, got a pay raise last year, bringing in $10.6 million in 2008.
Angela Bray, CEO of the Indianapolis-based WellPoint Inc., the No. 2 U.S. insurer in the country, made $9.1 million last year.
It's time to send a clear signal to the health insurance companies in
Illinois. We are sick of paying more every year and getting less. It’s
time for the unfair and abusive business practices of the health
insurance industry to end.
Call the Health Insurance Reform Hotline (1-800-664-9903) to tell your State Rep it's time for health insurance reform.
Health Insurance Data From 'Blues brass grabs green' by Mike Colias March 16, 2009, Crain's Business Chicago
Insurance-Payout-Fact-sheet.pdf