{"id":158244,"date":"2023-05-10T08:39:49","date_gmt":"2023-05-10T05:39:49","guid":{"rendered":"https:\/\/ceoworld.biz\/?p=158244"},"modified":"2023-05-10T08:39:49","modified_gmt":"2023-05-10T05:39:49","slug":"highest-paid-health-insurance-ceos-six-ceos-raked-in-a-record-123-million-last-year","status":"publish","type":"post","link":"https:\/\/ceoworld.biz\/2023\/05\/10\/highest-paid-health-insurance-ceos-six-ceos-raked-in-a-record-123-million-last-year\/","title":{"rendered":"Highest paid health insurance CEOs: Six CEOs raked in a record $123 million last year."},"content":{"rendered":"

The CEOs of America\u2019s six largest publicly traded health insurance and services companies earned nearly $123 million combined in total compensation last year \u2014 by far the most of any year in the past decade. CEOWORLD magazine Executive Council<\/a> reviewed proxy filings for UnitedHealth Group, Molina Healthcare, Elevance Health, CVS Health, Humana, and Cigna for this list.<\/p>\n

Molina Healthcare’s CEO Joseph Zubretsky takes the top spot in our annual look at compensation for chief executives at the six major national health insurers, bringing in $22.13 million in total compensation last year.<\/strong><\/p>\n

Zubretsky’s total compensation of $22.13 million includes a base salary of $1,500,000 and $14,999,868 in stock options. According to the company’s most recent proxy report, he earned $4,124,984 in option awards and $5,550,000 in non-equity incentive plan compensation.<\/p>\n

According to regulatory filings, UnitedHealth Group chief executive officer Andrew Witty had the largest percentage increase in compensation between 2021 and 2022. Andrew Witty’s total compensation package increased by 13.19% from 2021 to 2022. Molina Healthcare president and chief executive officer Joseph Zubretsky’s pay increased by 10.87% from 2021 to 2022. Big payers continue to grow, and the compensation packages for their top brass are expanding alongside the companies.<\/p>\n

Molina Healthcare’s CEO Joseph Zubretsky was the highest-paid payer for health insurance last year. Here’s what his competitors earned. Take a deeper dive into the earnings of these six CEOs.<\/p>\n

    \n
  1. Joseph Zubretsky, Molina Healthcare<\/strong>
    \n2022 pay: $22,131,256
    \n2021 pay: $19,961,698
    \nPercentage increase: 10.87<\/li>\n
  2. Karen Lynch, CVS Health<\/strong>
    \n2022 pay: $21,317,055
    \n2021 pay: $20,388,412
    \nPercentage increase: 4.55<\/li>\n
  3. David Cordani, Cigna<\/strong>
    \n2022 pay: $20,965,504
    \n2021 pay: $19,872,266
    \nPercentage increase: 5.50<\/li>\n
  4. Gail Boudreaux, Elevance Health<\/strong>
    \n2022 pay: $20,931,081
    \n2021 pay: $19,348,241
    \nPercentage increase: 8.18<\/li>\n
  5. Andrew Witty, UnitedHealth Group<\/strong>
    \n2022 pay: $20,865,106
    \n2021 pay: $18,433,143
    \nPercentage increase: 13.19<\/li>\n
  6. Bruce Broussard, Humana<\/strong>
    \n2022 pay: $17,198,844
    \n2021 pay:$16,525,036
    \nPercentage increase: 4.08<\/li>\n<\/ol>\n

    A deeper dive:<\/strong><\/p>\n

    \"Molina<\/p>\n

    Molina Healthcare’s\u00a0 highest-earning executives<\/strong><\/p>\n

    President and Chief Executive Officer Joseph Zubretsky<\/strong>
    \nSalary: $1,500,000
    \nStock awards: $14,999,868
    \nNon-equity incentive plan: $5,550,000
    \nOther compensation: $81,388
    \nTotal: $22,131,256<\/p>\n

    CFO Mark Keim<\/strong>
    \nSalary: $850,000
    \nStock awards: $3,750,045
    \nNon-equity incentive plan: $1,572,500
    \nOther compensation: $302,429
    \nTotal: $6,474,974<\/p>\n

    Executive Vice President of Health Plan Services James Woys
    \n<\/strong>Salary: $800,000
    \nStock awards: $3,250,102
    \nNon-equity incentive plan: $1,480,000
    \nOther compensation: $53,986
    \nTotal: $5,584,088<\/p>\n

    Executive Vice President of Health Plans Marc Russo<\/strong>
    \nSalary: $700,000
    \nStock awards: $2,749,846
    \nNon-equity incentive plan: $1,295,000
    \nOther compensation: $17,457
    \nTotal: $4,762,303<\/p>\n

    Chief Legal Officer Jeff Barlow<\/strong>
    \nSalary: $685,000
    \nStock awards: $2,749,846
    \nNon-equity incentive plan: $1,267,250
    \nOther compensation: $47,349
    \nTotal: $4,749,445<\/p>\n

    CVS Health’s top highest-paid executives<\/strong><\/p>\n

    President and CEO Karen Lynch<\/strong>
    \nSalary: $1,487,500
    \nStock awards: $12,374,946
    \nOption awards: $4,124,984
    \nNon-equity incentive plan: $2,975,000
    \nOther compensation: $354,625
    \nTotal: $21,317,055<\/p>\n

    CFO Shawn Guertin
    \n<\/strong>Salary: $1,250,000
    \nStock awards: $7,499,943
    \nOption awards: $2,499,998
    \nNon-equity incentive plan: $3,270,000
    \nOther compensation: $110,772
    \nTotal: $14,630,713<\/p>\n

    Chief Data, Digital and Technology Officer Tilak Mandadi<\/strong>
    \nSalary: $437,500
    \nBonus: $2,773,375
    \nStock awards: $9,799,983
    \nNon-equity incentive plan: $981,000
    \nTotal: $13,991,858<\/p>\n

    Former President of Pharmacy Services Alan Lotvin<\/strong>
    \nSalary: $1,000,000
    \nStock awards: $5,624,957
    \nOption awards: $1,874,986
    \nNon-equity incentive plan: $2,242,000
    \nOther compensation: $241,807
    \nTotal: $10,983,750<\/p>\n

    Chief Pharmacy Officer, Co-President of Retail Services Prem Shah<\/strong>
    \nSalary: $916,667
    \nStock awards: $4,999,820
    \nOption awards: $999,999
    \nNon-equity incentive plan compensation: $1,949,000
    \nOther compensation: $149,732
    \nTotal: $9,015,218<\/p>\n

    Cigna’s highest earning executives<\/strong><\/p>\n

    Chair and CEO David Cordani
    \n<\/strong>Salary: $1,500,000
    \nStock awards: $12,644,278
    \nOption awards: $2,900,029
    \nNon-equity incentive plan: $3,600,000
    \nOther compensation: $321,197
    \nTotal: $20,965,504<\/p>\n

    President and CEO of Evernorth Health Eric Palmer<\/strong>
    \nSalary: $986,731
    \nStock awards: $4,556,446
    \nOption awards: $1,406,274
    \nNon-equity incentive plan: $1,562,500
    \nOther compensation: $50,842
    \nTotal: $8,562,793<\/p>\n

    CFO Brian Evanko<\/strong>
    \nSalary: $836,731
    \nStock awards: $3,493,584
    \nOption awards: $1,078,170
    \nNon-equity incentive plan: $1,500,000
    \nOther compensation: $57,196
    \nTotal: $6,965,681<\/p>\n

    General Counsel Nicole Jones<\/strong>
    \nSalary: $768,366
    \nStock awards: $2,583,969
    \nOption awards: $797,503
    \nNon-equity incentive plan: $1,020,000
    \nOther compensation: $62,909
    \nTotal: $5,232,747<\/p>\n

    Global Chief Information Officer Noelle Eder<\/strong>
    \nSalary: $718,366
    \nStock awards: $2,316,966
    \nOption awards: $715,034
    \nNon-equity incentive plan: $840,000
    \nOther compensation: $34,619
    \nTotal: $4,624,985<\/p>\n

    Elevance Health’s highest-earning executives<\/strong><\/p>\n

    President and Chief Executive Officer Gail Boudreaux<\/strong>
    \nSalary: $1,600,000
    \nStock awards: $11,100,128
    \nOption awards: $3,699,929
    \nNon-equity incentive compensation: $3,840,000
    \nOther compensation: $691,024
    \nTotal: $20,931,081<\/p>\n

    Chief Financial Officer John Gallina<\/strong>
    \nSalary: $919,231
    \nStock awards: $3,937,532
    \nOption awards: $1,312,557
    \nNon-equity incentive compensation: $1,323,692
    \nOther compensation: $148,825
    \nTotal: $7,641,837<\/p>\n

    Chief Administrative Officer Gloria McCarthy<\/strong>
    \nSalary: $919,231
    \nStock awards: $3,000,218
    \nOption awards: $999,871
    \nNon-equity incentive plan compensation: $1,213,385
    \nChange in pension value and deferred compensation: $154,683
    \nOther compensation: $138,988
    \nTotal: $6,426,376<\/p>\n

    President of Carelon and CarelonRx Peter Haytaian<\/strong>
    \nSalary: $919,231
    \nStock awards: $3,000,218
    \nOption awards: $999,871
    \nNon-equity incentive plan compensation: $1,323,692
    \nOther compensation: $144,717
    \nTotal: $6,387,729<\/p>\n

    President of Government Business Division Felicia Norwood<\/strong>
    \nSalary: $919,231
    \nStock awards: $3,000,218
    \nOption awards: $999,871
    \nNon-equity incentive plan compensation: $1,323,692
    \nOther compensation: $143,975
    \nTotal: $6,386,987<\/p>\n

    UnitedHealth Group’s highest-paid executives<\/strong><\/p>\n

    Chief Executive Officer Andrew Witty<\/strong>
    \nSalary: $1,500,000
    \nStock awards: $12,375,672
    \nOption awards: $4,125,100
    \nNon-equity incentive plan: $2,760,000
    \nOther compensation: $104,334
    \nTotal: $20,865,106<\/p>\n

    Executive Vice President and CFO John Rex<\/strong>
    \nSalary: $1,200,000
    \nStock awards: $9,300,612
    \nOption awards: $3,100,109
    \nNon-equity incentive plan: $2,200,000
    \nOther compensation: $32,099
    \nTotal: $15,832,820<\/p>\n

    President and COO Dirk McMahon<\/strong>
    \nSalary: $1,200,000
    \nStock awards: $9,300,612
    \nOption awards: $3,100,109
    \nNon-equity incentive plan: $2,200,000
    \nOther compensation: $32,099
    \nTotal: $15,832,820<\/p>\n

    Executive Vice President and Chief Legal Officer Rupert Bondy<\/strong>
    \nSalary: $706,731
    \nBonus: $2,000,000
    \nStock awards: $5,876,767
    \nOption awards: $1,125,110
    \nNon-equity incentive plan: $1,090,000
    \nOther compensation: $519,216
    \nTotal: $11,317,825<\/p>\n

    Executive Vice President and UnitedHealthcare CEO Brian Thompson
    \nSalary: $1,000,000
    \nStock awards: $5,250,185
    \nOption awards: $1,750,060
    \nNon-equity incentive plan: $1,840,000
    \nTotal: $9,859,429<\/p>\n

    Humana’s highest-earning executives<\/strong><\/p>\n

    President and CEO Bruce Broussard<\/strong>
    \nSalary: $1,349,465
    \nStock awards: $9,638,547
    \nOption awards: $2,785,410
    \nNon-equity incentive plan compensation: $2,785,410
    \nAll other compensation: $353,028
    \nTotal: $17,198,844<\/p>\n

    CFO Susan Diamond<\/strong>
    \nSalary: $750,000
    \nStock awards: $2,258,317
    \nOption awards: $652,754
    \nNon-equity incentive plan compensation: $975,750
    \nAll other compensation: $174,177
    \nTotal: $4,810,998<\/p>\n

    Retail Segment President Alan Wheatley<\/strong>
    \nSalary: $665,000
    \nStock awards: $2,180,533
    \nOption awards: $630,221
    \nNon-equity incentive plan compensation: $865,165
    \nAll other compensation: $131,219
    \nTotal: $4,472,138<\/p>\n

    Chief Administrative Officer Timothy Huval<\/strong>
    \nSalary: $663,000
    \nStock awards: $1,596,932
    \nOption awards: $461,458
    \nNon-equity incentive plan compensation: $862,563
    \nAll other compensation: $150,617
    \nTotal: $3,734,570<\/p>\n

    Chief Legal Officer Joseph Ventura<\/strong>
    \nSalary: $600,596
    \nStock awards: $1,596,932
    \nOption awards: $461,458
    \nNon-equity incentive plan compensation: $784,147
    \nAll other compensation: $155,664
    \nTotal: $3,598,797<\/p>\n

    Total compensation consists of base salary, stock awards, option awards, non-equity incentive plan compensation, and all other forms of compensation.<\/p>\n

    \n

    Have you read?<\/strong>
    \n    The Global Passport Index: The World\u2019s Most Powerful Passports<\/a>.
    \n    Countries With The Most Billionaires, 2023<\/a>.
    \n    Top CEOs in Switzerland, 2023<\/a>.
    \n    Biggest banks in the world, as measured by total assets, 2023<\/a>.
    \n    The World\u2019s Richest Self-Made Women, 2023<\/a>.
    \nReady to join the     CEOWORLD magazine Executive Council<\/a>– Find out if you are eligible to apply.<\/p>\n","protected":false},"excerpt":{"rendered":"

    The CEOs of America\u2019s six largest publicly traded health insurance and services companies earned nearly $123 million combined in total compensation last year \u2014 by far the most of any year in the past decade. CEOWORLD magazine Executive Council reviewed proxy filings for UnitedHealth Group, Molina Healthcare, Elevance Health, CVS Health, Humana, and Cigna for […]<\/p>\n","protected":false},"author":2025,"featured_media":158245,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37203],"tags":[36170,36204,36287,37224,37231,37242,37260],"class_list":["post-158244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-c-suite-summit","tag-executive-vice-president-insider","tag-chief-human-resources-officer-insider","tag-external-director-insider","tag-chief-happiness-officer-insider","tag-chief-inclusion-officer-insider","tag-chief-information-governance-officer-insider","tag-chief-health-officer-insider"],"yoast_head":"\nHighest paid health insurance CEOs: Six CEOs raked in a record $123 million last year. - CEOWORLD magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ceoworld.biz\/2023\/05\/10\/highest-paid-health-insurance-ceos-six-ceos-raked-in-a-record-123-million-last-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Highest paid health insurance CEOs: Six CEOs raked in a record $123 million last year. - CEOWORLD magazine\" \/>\n<meta property=\"og:description\" content=\"The CEOs of America\u2019s six largest publicly traded health insurance and services companies earned nearly $123 million combined in total compensation last year \u2014 by far the most of any year in the past decade. 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