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. 2023 Healthcare Finance is a publication of HIMSS Media, Quantum computing poised to transform healthcare, AHA wants Congress to intervene in Medicare and Medicaid payments, Behavioral health access needs remote care and AI, Ending racism in healthcare often begins with medical education - and is the target of a new national project. Carroll's compensation is far more than nonexecutive board chairmen got at comparable publicly traded health insurers. I write about healthcare business and policy, Blue Cross Blue Shield Building, home of Health, Care Service Corp. as photographed from Maggie Daley Park in Chicago, Illinois on June 24, 2017. This new site may be offered by a vendor or an independent third party. 1 salaries for 1 jobs at Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC in San Jose, CA Area. Other Adobe accessibility tools and information can be downloaded at Health Care Service Corp. has named a new chief executive with a three-decade history working for the company to lead the parent of Blue Cross and Blue Shield plans in five states. You are leaving this website/app ("site"). The staff at HCSC come from unusually diverse demographic backgrounds. Thompson did not say how many hours per week Carroll, who is also a director at oil services company Halliburton, devotes to HCSC business. 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. Altogether, Lesar and Steiner were paid about $25 million, not counting Steiner's severance pay. At that time, David Lesar, will step down as the company's interim CEO; he will remain a member of the Board of Directors. He said he will continue to work to expand access to quality, cost-effective health care. 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. Anthem chief Gail Boudreaux, a former HCSC executive, got $15.5 million, while Humana's Bruce Broussard received $16.7 million. The company has about 24,000 current employees and is expected to add about 1,000 new jobs in customer and provider service, technology and digital capabilities this year, according to Thompson. After extensive research and analysis, Zippia's data science team found that: 53% of HCSC employees are women, while 47% are men. As President and CEO, Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. 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.. Maurice Smith, Health Care Service Corporation: $5,904,535 (up 62.75 percent) 10. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. All Rights Reserved. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. 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 percent boost to $4.9 million. The data presented on this page does not represent the view of HCSC and its employees or that of Zippia. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. 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. The site may also contain non-Medicare related information. Executive pay keeps climbing at Health Care Service Corp., even as the health insurance giant lays off workers and looks for a new strategy. HCSC and some other large insurers have agreed to cover certain patients' out-of-pocket costs for COVID-19 treatments, a move that could cost them money, unless they make it up in premium hikes. As President and CEO, Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. In the second-largest bank failure in U.S. history, officials seize First Republic Bank, selling its deposits and most of its assets. Maurice Smith contract and salary cap details, including signing bonus, guaranteed salary, dead money, roster bonuses, and contract history. Optically, it's going to be awkward, but it was for 2019 performance.". The Writers Guild of America said its 11,500 unionized screenwriters will walk the picket line Tuesday. HealthCare Services competitors are HCSC, Hhs - Hospital Housekeeping Systems, Silverado, and more. Opinions expressed by Forbes Contributors are their own. 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. None of the information on this page has been provided or approved by HCSC. "Mauricehas 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, Lesar said in a statement. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. 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 . Employees at Select Rehab Inc earn more than most of the competitors, with an average yearly salary of $72,776. In general, to best serve our customers now and into the future of the rapidly changing health care landscape, we are rebalancing our resources to meet the diverse needs of our customers, provider partners and other stakeholders, the email said. In addition, some sites may require you to agree to their terms of use and privacy policy. He previously was President of HCSC's Illinois Plan, the states largest health insurance company. 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 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. 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. Smith is succeeding Karen Atwood as head of the 7.3 million member BCBSIL, after almost six years. 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. In an internal memo announcing the January layoffs, Smith said the company is focused on making changes that "ensure we have the structure and resources to best serve our members now and into the future.". One option is Adobe Reader which has a built-in screen reader. Work At Florida Blue? He's not the only high-level connection linking HCSC and the Houston-based energy industry giant. We come to work every day to make a difference, and we deliver the highest quality and best solutions to our members. Click below to see everything we have to offer. Smith, 48, will succeed David Lesar, who was the interim CEO. Since the late 1990s HCSC has been on a slow and steady growth path, acquiring and merging with other non-profit Blue Cross Blue Shield operations. Legislators have a chance at another one, and should pass a bill to find a private developer to revive the historic Hotel Florence. Still, as COVID-19 squeezes insurers' profits, premium increases in individual and employer markets nationwide could be 40 % or higher in the absence of federal action, according to a March 24 report from California's Affordable Care Act marketplace. 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. 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.. "Nobody is holding them accountable so, realistically, they can do whatever they want.". The Writers Guild of America said its 11,500 unionized screenwriters will walk the picket line Tuesday. Blue Cross of Illinois parent company, Health Care Service Corp., announced Tuesday it will slash about 400 positions to ready itself for fast industry growth, according to reports. greg_thompson@hcsc.net, A Division of Health Care Service Corporation, a Mutual Legal Reserve Company, an Independent Licensee of the Blue Cross and Blue Shield Association. Click here to get the full experience on your screen. Later, enrollment numbers could drop as employers shed insured workers. Lesar will remain a member of the companys board. The massive raises come amid increasing cost pressures and rising uncertainty for the entire health care industry, and HCSC in particular. Copyright Health Care Service Corporation. Employees at Change Healthcare earn more than most of the competitors, with an average yearly salary of $84,526. Stephen Ondra donated Maurice Smith has been working as a President & Chief Executive Officer at Health Care Service Corporation for 30 years. Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC Salaries trends. E-mail oureditor Atwood was promoted to a new position at HCSC, the executive vice president of service and technology, to oversee IT and service delivery across the company's 14 million members in five states. 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. The health care industry is facing a transition from fee-for-service to paying for value, Crain's reported. He will begin this new position immediately. He was most recently head of the treasury department and corporate development, overseeing strategic partnerships, mergers and acquisitions, including the takeover of Blue Cross and Blue Shield of Montana in 2013. 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. Dr. Opella Ernest is responsible for commercial markets in HCSC's five geographies, as well as national account growth and clinical operations. Have you worked at HCSC? You are leaving this website/app ("site"). The company increased its total adjusted capital by about $700 million between 2012 and 2013, to $10.2 billion, and also increased its premium deficiency reserve to $283 million, up from $34 million in 2012. All Rights Reserved. Work At Healthcare Services Group? Maurice joined HCSC nearly 27 years ago as an intern. About Blue Cross and Blue Shield of Illinois Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC Engaged Employer Overview 2.8K Reviews 660 Jobs 4.7K Salaries 436 Interviews 1.2K Benefits 78 Photos 815 Diversity + Add a Review Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC Reviews Updated Apr 18, 2023 Filter by Topic Remote Work Later, enrollment numbers could drop as employers shed insured workers. File is in portable document format (PDF). File is in portable document format (PDF). Employees at the parent company, HCSC, earn $58,172 whereas employees at Medecision earn $89,566, on average.

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