Business
Insurance CEOs are in the money
■ An occasional snapshot of current facts and trends in medicine.
Quick View. Posted May 3, 2004
CEOs of the nation's leading publicly traded managed care companies received an average annual salary of $1.1 million in 2003.
Salary | Bonus | Long-term payout | Value realized on stock options | Other income | Total | |
---|---|---|---|---|---|---|
John Rowe, MD (Aetna) | $1,042,146 | $2,200,000 | $7,000,000 | $7,589,430 | $396,077 | $18,227,653 |
Larry C. Glasscock (Anthem) | $1,040,000 | $2,311,845 | $21,243,000 | $0 | $374,874 | $24,969,719 |
H. Edward Hanway (CIGNA) | $1,030,000 | $2,100,000 | $0 | $0 | $84,600 | $3,214,600 |
Jay M. Gellert (Health Net) | $891,731 | $0 | $0 | $10,068,377 | $76,506 | $11,036,614 |
Michael B. McCallister (Humana) | $713,923 | $1,070,885 | $0 | $344,063 | $3,979,569 | $6,108,440 |
William W. McGuire, MD (UnitedHealth) | $1,999,154 | $5,550,000 | $1,897,000 | $84,176,032 | $558,345 | $94,180,531 |
Howard G. Phanstiel (PacifiCare) | $917,309 | $1,690,000 | $0 | $0 | $398,472 | $3,005,781 |
Leonard D. Schaeffer (WellPoint) | $1,246,155 | $5,690,916 | $0 | $14,480,737 | $347,724 | $21,765,532 |
Annual cash bonuses brought CEO pay average up to $3.5 million. Throw in value realized from stock options, payouts based on long-term incentives, and other income, and the average leaps to $22.6 million.
Note: Does not include stock options awarded in 2003, but not cashed in.
Source: Company Securities and exchange commission filings