CEO compensation packages for prominent healthcare payers have been revealed in regulatory filings. UnitedHealth Group CEO Andrew Witty received the largest increase of 13.19% from 2021 to 2022, while Molina Healthcare CEO Joseph Zubretsky received a 10.87% increase. Other prominent payer CEOs, including Gail Boudreaux of Elevance Health, Karen Lynch of CVS Health, Bruce Broussard of Humana, and David Cordani of Cigna, also saw increases in their compensation packages. These increases reflect the complex and demanding nature of the healthcare industry and the importance of strong leadership.
The healthcare industry is a vast and complex landscape with many different players, including payers who help to finance healthcare services. These payers, often in the form of insurance companies, play a critical role in ensuring that patients have access to the care they need. As with any industry, the pay for the executives leading these companies can be quite substantial, and recent regulatory filings have shed some light on just how much these executives are making.
According to these filings, UnitedHealth Group CEO Andrew Witty had the largest percentage increase in compensation between 2021 and 2022. Witty’s pay increased by 13.19 percent over this period, from $18,433,143 in 2021 to $20,865,106 in 2022. This is a significant increase, but it is not unusual for CEO compensation to be quite high in the healthcare industry.
Molina Healthcare CEO Joseph Zubretsky also saw a significant pay increase, with his compensation rising by 10.87 percent from 2021 to 2022. His pay went from $19,961,698 in 2021 to $22,131,256 in 2022.
It is worth noting that these increases are not necessarily reflective of the overall health of these companies or the industry as a whole. CEO pay packages are frequently influenced by a range of criteria, such as the company’s profitability, its size, and the executive’s expertise and qualifications.
Other prominent CEOs also saw increases in their compensation packages, though these were generally more modest. Gail Boudreaux, CEO of Elevance Health, saw an 8.18 percent increase in pay, from $19,348,241 in 2021 to $20,931,081 in 2022. Karen Lynch, CEO of CVS Health, saw a 4.55 percent increase in pay, from $20,388,412 in 2021 to $21,317,055 in 2022. Bruce Broussard, CEO of Humana, saw a 4.08 percent increase in pay, from $16,525,036 in 2021 to $17,198,844 in 2022. David Cordani, CEO of Cigna, saw a 5.50 percent increase in pay, from $19,872,266 in 2021 to $20,965,504 in 2022.
It is also worth noting that Centene CEO Sarah London, who took the helm of the company in 2022, is not included in this list. Her compensation package will likely be disclosed in future regulatory filings.
While these pay increases may seem high to some, it is important to remember that CEOs of large companies are responsible for a wide range of duties and are often under significant pressure to perform. Additionally, the healthcare industry is incredibly complex and is constantly evolving, which can make the job of a CEO particularly challenging.
It is also worth noting that CEO compensation is just one aspect of executive pay in the healthcare industry. Many other executives, including CFOs, COOs, and other high-level managers, also receive substantial compensation packages. Additionally, these compensation packages often include a wide range of benefits, including stock options, retirement plans, and other perks.
