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New Ranking Shows Managed Care CEOs Earning Over $1 Million Per Day

26 Aug, 2022 F.J. Thomas

                               

Sarasota, FL (WorkersCompensation.com) – In 2019, the average salary for an Orthopedic surgeon was estimated at $351,000, while the average annual household income was $64,000. In 2021, new reports estimated that Orthopedic surgeons earn average salary of $557,000. While orthopedics is one of the higher paying specialties, it’s still a drop in the bucket when compared to the salaries of insurance corporate executives. In fact, according to a new report Orthopedic surgeons make only 3 percent of the lowest insurance CEO earns annually.

The analysis ranking from S&P Global Market Intelligence shows that the top earning managed care CEO makes what equates to over a million dollars per day, and the second highest earning CEO earns almost a half million per day. Even the tenth lowest paid CEO still makes what averages out to $45,000 per day.

According to the S&P report, Vivek Garipalli the co-founder and CEO of Clover Health, earned $389.6 million in 2021, averaging out to $1,067,397.26 per day. Active in health tech, Garipalli took equity awards in lieu of a salary and received $389.6 million in stocks last year. The move pushed him to the top of the list of highest earning managed care CEOs. Clover Health offers Medicare Advantage plans offering low premiums but open networks.

George Mikan, CEO for Bright Healthcare, ranked second with a 3,000 percent increase from the previous year. Mikan’s total compensation package increased from $5.5 million in 2020 to $180.8 million last year, which averages out to $495,342.47 per day. Mikan earned a $2.3 million salary, as well as $94.8 million in equity, and $83.7 million in options granted.

Third on the list, and highest increase in salary is the CEO of Oscar Health, Mario Schlosser. The $60.8 million dollar salary represents a 10,674.1 percent increase over the $600,000 earned just a year earlier.

Bruce Broussard, CEO of Humana, ranked tenth earning $16.5 million in 2021. The salary equates to $45,205 per day.

Only one CEO saw a decrease over the previous year. Michael Neidorff, former CEO of Centene Corporation, passed away at age 79 in April of this year. His salary with Centene decreased from $25.0 million to $20.6 million in 2021, a loss equating to 17.3 percent.

In another ranking from Business Insurance, Even Greenberg, chairman and CEO of Chubb Ltd., ranked top earner with a salary of $23.1 million between salary, options, and stock. The total represents a 14 percent increase over the previous eyar. His total salary averages out to over $63,500 per day.

American International Group president and CEO ranked second. Peter Zaffino’s salary dropped by 9 percent with a total salary of $21.9 million. Liberty Mutual CEO, David Long, ranked fifth with a total salary of $18.4 million, equating to a 3.3 percent increase.

 

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    About The Author

    • F.J. Thomas

      F.J. Thomas has worked in healthcare business for more than fifteen years in Tennessee. Her experience as a contract appeals analyst has given her an intimate grasp of the inner workings of both the provider and insurance world. Knowing first hand that the industry is constantly changing, she strives to find resources and information you can use.

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