maurice smith hcsc salary

Carroll's compensation "reflects the additional time, effort, focus and input during this time of transition.". Lesar will remain a member of the companys board. The national average salary for an HCSC employee in the United States is $58,172 per year. Have an opinion about this story? Humana and Cigna, for example, paid their chairmen $544,044 and $575,352, respectively. 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. . President, CEO and Vice Chair at Health Care Service Corporation (HCSC) Maurice Smith Bio. Other Adobe accessibility tools and information can be downloaded at After extensive research and analysis, Zippia's data science team found that: 53% of HCSC employees are women, while 47% are men. In addition, All Rights Reserved. greg_thompson@hcsc.net. Employees in the top 10 percent can make over $105,000 per year, while employees at the bottom 10 percent earn less than $32,000 per year. 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"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. "With COVID-19, any losses incurred by these insurance companies because they're waiving copays will directly come out of insurance premiums the next year, or negotiated prices with providers who are going to have to accept lower reimbursement rates," says Attila Hertelendy, a health care expert and business professor at Florida International University. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. HCSC paid more for CEO services last year than two larger health insurers. Her total compensation surged 120% to $31 millionabout $12 million of which was severance pay. File is in portable document format (PDF). You are leaving this website/app ("site"). Maurice Smith signed a 1 year, $850,000 contract with the Tennessee Titans, including an average annual salary of $850,000. 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. Opinions expressed by Forbes Contributors are their own. Executive pay keeps climbing at Health Care Service Corp., even as the health insurance giant lays off workers and looks for a new strategy. The health care industry is facing a transition from fee-for-service to paying for value, Crains reported. Smith most recently was president of Blue Cross and Blue Shield of Illinois, the largest of HCSCs health plans, where he was responsible for the overall strategic direction for Illinois health plan including the organization's long-term growth strategy, planning and performance.. $68,524 to the Democratic Party. Average HCSC Salary $58,172 yearly $27.97 hourly Updated March 16, 2023 $32,000 10% $58,000 Median $105,000 90% Copyright Health Care Service Corporation. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Employees in the top 10 percent can make over $105,000 per year, while employees at the bottom 10 percent earn less than $32,000 per year. To provide products and services of the highest quality and value with a direct focus on meeting the needs of customers. 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. In an internal memo about the layoffs, HCSC President Maurice Smith told employees, We made a number of changes to ensure we have the structure and resources to best serve our members now and into the future, Crains reported. 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. 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. 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. HCSC employees are most likely to be members of the democratic party. The biggest winner was former board member David Lesar, who served as interim CEO of HCSC from July 2019 through May 2020. 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We are driven by our collective company purpose: To do everything in our power to stand with our members in sickness and in health . Based in Chicago, IL, HCSC is an industry leader with 22,001 employees and an annual revenue of $17.0B. Maurice joined HCSC nearly 27 years ago as an intern. About Health Care Service Corporation Anthem chief Gail Boudreaux, a former HCSC executive, got $15.5 million, while Humana's Bruce Broussard received $16.7 million. "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. Research Summary. He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. The company is 53.4% female and 39.8% ethnic minorities. by Stephen Ondra. Thompson did not say how many hours per week Carroll, who is also a director at oil services company Halliburton, devotes to HCSC business. Greg Thompson 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.". Anthem reported $104.2 billion in revenue last year and Humana booked $64.9 billion, compared with $38.6 billion for HCSC. 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. 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 . He said he will continue to work to expand access to quality, cost-effective health care. He notes that executive compensation is determined by the board, with guidance from outside advisers. 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. This new site may be offered by a vendor or an independent third party. Maurice brings a broad perspective and deep understanding of the industry having held many senior financial management roles, including head of corporate transactions and investment strategies. Stephen Ondra donated Claiming and updating your company profile on Zippia is free and easy. Maurice Smith, who is 48 years old, will become chief executive officer and president of Health Care Service effective June 1 when he will replace interim CEO David Lesar who will remain a member of the companys board of directors, the insurer said Tuesday. With unemployment skyrocketing in the wake of anti-contagion measures that have essentially locked down the economy, HCSC could see enrollment in its employer-based insurance plans drop. Health Care Service Corporation, a Mutual Legal Reserve Company. As President and CEO, Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. "Karen brings the expertise necessary to focus on taking our service and technology capabilities to the next level as we continue to expand access to cost-effective health coverage," said HCSC CEO Patricia Hemingway Hall. 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. Health Care Service Corporation Its the third midsize bank to fail in two months. HCSC's mission statement is "To provide products and services of the highest quality and value with a direct focus on meeting the needs of customers.". Staying current is easy with Crain's news delivered straight to your inbox, free of charge. Board compensation at HCSC "is designed to attract and retain the most qualified business leaders with broad and diverse experience to provide strategic counsel and guidance in the dynamic and rapidly evolving health care industry," Thompson says. Health Care Service Corporation is part of the Insurance industry, and located in Illinois, United States. Copyright Health Care Service Corporation. . Revenue is also considered, but companies should be mindful that growth could result from higher prices, she says. Hear the latest economic, business and market news, as well as global, national, and local news. In the second-largest bank failure in U.S. history, officials seize First Republic Bank, selling its deposits and most of its assets. The health care industry is facing a transition from fee-for-service to paying for value, Crain's reported.

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