Controversies aren’t limited to North Dakota
BISMARCK – Controversies over executive compensation have not been limited to North Dakota. Maryland’s insurance commissioner halved an $18 million severance payout last year for the chief executive of CareFirst Blue Cross Blue Shield, calling it “simply too much money to pay the departing CEO of a nonprofit company.”By: The Washington Post, INFORUM
BISMARCK – Controversies over executive compensation have not been limited to North Dakota. Maryland’s insurance commissioner halved an $18 million severance payout last year for the chief executive of CareFirst Blue Cross Blue Shield, calling it “simply too much money to pay the departing CEO of a nonprofit company.”
In Massachusetts, where residents are required to carry health insurance, the attorney general last month launched an inquiry into executive and board compensation at health-care nonprofits after the chairman of the state’s Blue Cross Blue Shield retired with a $16 million lump sum.
“Our office is concerned about the generally high cost of health care. This is a part of that,” said David Friedman, first assistant attorney general in the office headed by Martha Coakley, a Democrat running for the Senate seat of the late Edward Kennedy.
Tags: blue cross blue shield, north dakota, news, health, bcbs
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