Lesar previously served as executive chair of Halliburton, and Patricia Hemingway Hall, who retired five years ago as CEO of HCSC, joined Halliburton's board last year. "On behalf of the entire Board of Directors, I am pleased that Maurice will lead HCSC at this critical time for the company and our country as we continue to work through the challenges of the COVID-19 pandemic," said David Lesar. . CHICAGO Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief executive officer and president, effective June 1, 2020. Anthem chief Gail Boudreaux, a former HCSC executive, got $15.5 million, while Humana's Bruce Broussard received $16.7 million. "Maurice has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront, and the opportunities we have now to advance our purpose. From 2009 to 2013, HCSC posted at least a $1 billion in net income annually--until last year, when it booked profits of $648 million as it shored up for health reform. About Blue Cross and Blue Shield of Illinois Hear the latest economic, business and market news, as well as global, national, and local news. Anthem reported $104.2 billion in revenue last year and Humana booked $64.9 billion, compared with $38.6 billion for HCSC. The average employee at HCSC makes $58,172 per year. books, conferences, travel to present research, etc.) He's not the only high-level connection linking HCSC and the Houston-based energy industry giant. The largest donation made to a political party by an HCSC employee was About Health Care Service Corporation Maurice joined HCSC nearly 27 years ago as an intern. SALARY AND BENEFITS FOR 2023-2024 YEAR ARE: IN ADDITION: The County contributes 7.5% of an employee's gross base salary towards a Deferred Compensation Plan; Each resident receives an educational stipend ($1000 for PGY1, $1,800 for PGY2 and PGY3) for educational expenses (e.g. The Writers Guild of America said its 11,500 unionized screenwriters will walk the picket line Tuesday. 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Gibbs will report to Maurice Smith, president and chief executive officer of HCSC, and will lead all aspects of the company's people strategy in support of the business plan to enable its overall . Staying current is easy with Crain's news delivered straight to your inbox, free of charge. You are leaving this website/app ("site"). After extensive research and analysis, Zippia's data science team found that: 53% of HCSC employees are women, while 47% are men. The national average salary for an HCSC employee in the United States is $58,172 per year. He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. CHICAGO - Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief executive officer and president, effective June 1, 2020. Best Health Care Companies to Work For in America, Best Health Care Companies to Work For in Illinois, Best Health Care Companies to Work For in Chicago, IL, Capital District Physicians' Health Plan Inc, Working At America's Health Insurance Plans, Working At BlueCross BlueShield of Tennessee. Executive pay keeps climbing at Health Care Service Corp., even as the health insurance giant lays off workers and looks for a new strategy. Some of the most common performance metrics that health insurance companies use to determine executive compensation are enrollment, market share and customer satisfaction, says Judy Canavan, leader of BDO's compensation surveys practice. Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC Salaries trends. The oldest company is HCSC, founded in 1936. Have you worked at HCSC? In the second-largest bank failure in U.S. history, officials seize First Republic Bank, selling its deposits and most of its assets. Altogether, Lesar and Steiner were paid about $25 million, not counting Steiner's severance pay. For more information, please visitHCSC.com, visit ourFacebookpageor follow us onTwitter. Stephen will succeed Steve Hamman, who has left the company to pursue new endeavors. Bloomberg Surveillance: Early Edition with Anna Edwards, Matt Miller & Kailey Leinz live from London, Berlin and New York, bringing insight on global markets and the top business stories of the day. Dr. Opella Ernest is responsible for commercial markets in HCSC's five geographies, as well as national account growth and clinical operations. Smith is succeeding Karen Atwood as head of the 7.3 million member BCBSIL, after almost six years. Treasury Secretary Janet Yellen warns lawmakers that if they do not vote to raise or suspend the nations borrowing authority it could cause a global financial crisis. Have an opinion about this story? Sign up for enewsletters and alerts to receive breaking news and in-depth coverage of healthcare events and trends, as they happen, right to your inbox. "With so many changes in our healthcare system happening all at once, we need to continue to adapt our capabilities to deliver what our customers deserve and demand from us," said Atwood, who started her career at HCSC in 1990 as an accounts manager and then became national account underwriting officer in 1995 and chief underwriter in 2001. This new site may be offered by a vendor or an independent third party. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. Carroll's compensation "reflects the additional time, effort, focus and input during this time of transition.". But insurers will soon get bills for COVID-19 treatments. Blue Cross and Blue Shield of Oklahoma is a division of HCSC, a . Thompson did not say how many hours per week Carroll, who is also a director at oil services company Halliburton, devotes to HCSC business. We will continue to take action to focus and execute on a strategy that will propel this exciting and innovative company into the next phase of its evolution, while providing long-term value to customers, medical and other health care providers, employees and other partners in the dynamic health care industry. Carroll, an energy industry executive, pocketed $4.9 million last year as part of a dealthe terms of which were not disclosed"to ensure a smooth transition" and provide "proper support" to Lesar and Smith, spokesman Greg Thompson says in an email. Our estimates are verified against BLS, Census, and current job openings data for accuracy. In addition, some sites may require you to agree to their terms of use and privacy policy. Anthem chief Gail Boudreaux, a former HCSC executive, got $15.5 million, while Humana's Bruce Broussard received $16.7 million. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. For example, the company's longtime board chairman profits when there's a transition at the top. He previously was President of HCSC's Illinois Plan, the states largest health insurance company. But insurers will soon get bills for COVID-19 treatments. Inequities can be found in every facet of the industry, but targeting medical students and residents can help stem the tide. The middle management roles will be eliminated to reduce organizational redundancy and improve decision-making efficiency, according to HCSC spokesman Greg Thompson in an email to the Chicago Sun-Times. Health Care Service is the nations fifth-largest health insurer with nearly 16 million health plan members. Thompson says metrics at HCSC include "expanding access to coverage and efforts to help control the rise in medical costs for our members," in addition to market competitiveness and relevant peer data. As President and CEO, Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. Thompson says metrics at HCSC include "expanding access to coverage and efforts to help control the rise in medical costs for our members," in addition to market competitiveness and relevant peer data. 1 salaries for 1 jobs at Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC in San Jose, CA Area. The biggest winner was Paula Steiner, who stepped down as CEO in July. Executive pay keeps climbing at Blue Cross of Illinois' parent company, even as the health insurance giant lays off workers and looks for a new strategy. Smith has spent most of his career with HCSC. Karen Ignagni, Emblemhealth Plan: $5,342,500 (up 66.58 percent) Latest articles on Payer: The fastest growing Medicare Advantage startup plans More traditional Medicare enrollees are adding Medigap plans: 5 things to know Lesar will remain a member of the companys board. Stephanie Goldberg, Crain's Chicago Business, Clover Health settles shareholder lawsuit as delisting looms, States fighting scammers as Medicaid redeterminations resume, ESG: The Implementation Imperative Summit, More healthcare organizations at risk of credit default, Moody's says, Centene fills out senior executive team with new president, COO, SCAN, CareOregon plan to merge into the HealthRight Group, Blue Cross Blue Shield of Michigan unveils big push that lets physicians take on risk, reap rewards, Bright Health weighs reverse stock split as delisting looms. The nation's sixth-largest health insurer cut "a few dozen" staffers late last yearfollowed by an additional 400 in Januaryand needs to step up growth to compete with rivals. HCSC has the most employees (22,001). Maurice Smith contract and salary cap details, including signing bonus, guaranteed salary, dead money, roster bonuses, and contract history. The company's annual net premium income increased 10 percent to $36 million in 2018. (Photo By Raymond Boyd/Getty Images). The 10 highest-paid employees at the parent company of several of the nation's Blue Cross Blue Shield plans received a combined $70 million last year, up 58% from 2018. Companies likely established 2020 performance measures around the time COVID-19 hit, so they'll want to revisit their expectations, Canavan says, adding that "bonuses probably got paid out right before we were aware of how big of a deal this would be. While many healthcare providers believe that improving the patient financial experience is a critical step for their organization, few have done so successfully. E-mail oureditor Board member David Lesar, who took over as interim CEO, pocketed $6.2 million; Maurice Smith, who was named president, got $3.6 million; and board Chairman Milton Carroll got a 429% boost to $4.9 million. Altogether, Lesar and Steiner were paid about $25 million, not counting Steiner's severance pay. Headquartered in Chicago, HCSC has combined annual revenues of approximately $46 billion, over 272,000 physicians and other providers in its network, more than 24,000 employees and over 16. To provide products and services of the highest quality and value with a direct focus on meeting the needs of customers. Maurice Smith signed a 1 year, $850,000 contract with the Tennessee Titans, including an average annual salary of $850,000. A new business model for residential power enables people to switch to solar without the up-front cost of home installation, a critical step in bringing lower-income Americans into the green fold. Later, enrollment numbers could drop as employers shed insured workers. The largest mutual insurer in the country, HCSC was created in 1975 through the merger of two Illinois Blue plans. The site may also contain non-Medicare related information. President, CEO and Vice Chair at Health Care Service Corporation (HCSC) Maurice Smith Bio. CHICAGO, March 31, 2022 /PRNewswire/ -- Blue Cross and Shield of Illinois (BCBSIL), a division of Health Care Service Corporation (HCSC), today announced Stephen Harris has been named the new. He notes that executive compensation is determined by the board, with guidance from outside advisers. Health Care Service Corporation is the countrys largest customer-owned health insurer and fifth largest health insurer overall, with nearly 16 million members in its health plans in Illinois, Montana, New Mexico, Oklahoma and Texas. All Rights Reserved. For more information, please visitHCSC.com, visit ourFacebookpageor follow us onTwitter. Help other job seekers by rating HCSC. Our IT team unleashes the power of this purpose through technology. Blue Cross and Blue Shield of Illinois is a division of HCSC, a Mutual Legal Reserve Company, an independent licensee of the Blue Cross and Blue Shield Association. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Carroll collected $930,347 in 2018, after getting nearly $5 million in each of the two previous years as part of a deal to oversee the leadership transition when Steiner succeeded Hall. S Maurice Smith earned $918,091 in his NFL career. To view this file, you may need to install a PDF reader program. The Pullman community has seen plenty of long-awaited successes in recent years. Stephen Ondra donated Health Care Service Corporation, a Mutual Legal Reserve Company. As hospitals and outpatient centers cancel elective surgeries due to COVID-19, insurers initially will have fewer medical claims to pay. Treasury Secretary Janet Yellen warns lawmakers that if they do not vote to raise or suspend the nations borrowing authority it could cause a global financial crisis. The board and I look forward to working with him and the rest of the HCSC team to ensure a continued success in simplifying the health care experience and helping people achieve their health care goals., Health Care Service Corp. CEO Maurice Smith. Maurice brings a broad perspective and deep understanding of the industry to his role from his 30 years of service with the company. . The company is 53.4% female and 39.8% ethnic minorities. On average, employees at HCSC stay with the company for 5.9 years. Prior to being named president of HCSC, Maurice was president of Blue Cross and Blue Shield of Illinois where he was responsible for the overall strategic direction for Illinois health plan including the organization's long-term growth strategy, planning and performance.