Company execs seeking to buy MT insurer made $59M
Illinois records show the top 10 executives of a Chicago-based health insurance company that wants to buy Blue Cross Blue Shield of Montana made $59 million in salary and bonuses last year.
Health Care Service Corp. had resisted a request by State Auditor Monica Lindeen to provide the company's executive pay information, saying it had no bearing on the merger and the Montana Constitution's privacy clause protects HCSC employees' compensation information.
The information is public under Illinois law. The Great Falls Tribune reports (http://gftrib.com/10UfmDz) HCSC's top earner, CEO Patricia Hemingway, made $16 million last year, a nearly 20 percent increase from 2011.
Blue Cross Montana CEO Michael Frank made $635,298 in 2012.
HCSC is the nation's fourth-largest insurer with 13 million customers. Blue Cross in Montana has 270,000 customers.