Considering the angst between insurers and regulators last year over capping premiums, the state's top three health insurers all made out pretty well, according to year-end financial reports. WBUR's Martha Bebinger offers a few details:
Tufts, the 3rd largest health insurer ended the year $65 million ahead with a slight increase in membership and no debt. Tufts paid CEO Jim Roosevelt, $1.2 million. Eric Schultz at Harvard Pilgrim earned just under $800,000 as did Andrew Dreyfus at Blue Cross Blue Shield. Harvard Pilgrim also added members and had a net income of $50 million dollars. Blue Cross Blue Shield membership was down slightly and the state's largest insurer closed the books with $14.3 million in profits.
The fourth largest insurer, Fallon Community Health Plan, based on Worcester, posted a loss for the year and saw membership fall about 6%. CEO Patrick Hughes (who moved from division president of health plan operations to chief executive in February 2010) received $754,012 in total compensation in 2009 and $649,581 in 2010.
This program aired on March 1, 2011. The audio for this program is not available.