maurice smith hcsc salary

File is in portable document format (PDF). Carroll's compensation is far more than nonexecutive board chairmen got at comparable publicly traded health insurers. (Photo By Raymond Boyd/Getty Images). Staying current is easy with Crain's news delivered straight to your inbox, free of charge. Other Adobe accessibility tools and information can be downloaded at http://access.adobe.com. 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. "Expanding access to affordable healthcare coverage is an imperative," said Smith, who outside of his insurance career is the chair-elect of the Chicago Sinfonietta orchestra. Health Care Service Corp. said Tuesday its president, Maurice Smith, will add the title of CEO effective June 1. 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. In the second-largest bank failure in U.S. history, officials seize First Republic Bank, selling its deposits and most of its assets. You are leaving this website/app ("site"). 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. He also serves as Vice Chair of the HCSC Board of Directors. One option is Adobe Reader which has a built-in screen reader. We come to work every day to make a difference, and we deliver the highest quality and best solutions to our members. Work At Healthcare Services Group? 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. Since that time, he worked in many functions at HCSC assuming increased responsibility, excelling in each position and demonstrating solid strategic leadership. Employees at the parent company, HCSC, earn $58,172 whereas employees at Medecision earn $89,566, on average. 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. 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. Healthcare organizations ask HHS to delay quality measure reporting for ACOs. The Pullman community has seen plenty of long-awaited successes in recent years. Anthem reported $104.2 billion in revenue last year and Humana booked $64.9 billion, compared with $38.6 billion for HCSC. Help other job seekers by rating HCSC. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Maurice S Smith, Health Care Service Corporation: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg New Economy Forum: Lighting a Path Through the Storm In the shadow of. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. And a $1.7 billion tax refund under the Trump administration's tax cuts drove a 226 percent rise in net income . Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. About Health Care Service Corporation Chicago, IL 60601 While an outgoing chief executive moving into a chairman role or a board member stepping in as interim CEO, like Lesar, often get pay bumps during transitional periods, sources say Carroll's arrangement is unusual for an outside director. The massive raises come amid increasing cost pressures and rising uncertainty for the entire health care industry, and HCSC in particular. "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. Stephen Ondra donated HCSC may also be known as or be related to HCSC, Health Care Service, Health Care Service Corporation, HEALTH CARE SERVICE CORPORATION, Health Care Service Corporation Illinois State Pac, Nfp and Blue Cross And Blue Shield Of Illinois, Montana, New Mexico, Oklahoma We use innovative tools and approaches to help members get the most out of their plan benefits, as affordably as possible. Thompson did not say how many hours per week Carroll, who is also a director at oil services company Halliburton, devotes to HCSC business. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. Blue Cross and Blue Shield of Illinois (BCBSIL) is committed to expanding access to quality, cost-effective health care to as many people as possible in Illinois. HCSC paid more for CEO services last year than two larger health insurers. For more information, please visitHCSC.com, visit ourFacebookpageor follow us onTwitter. The Writers Guild of America said its 11,500 unionized screenwriters will walk the picket line Tuesday. With nearly 16 million customers, HCSC also owns Blue Cross health plans in Montana, New Mexico, Oklahoma and Texas. Health Care Service is the parent of Blue Cross and Blue Shield plans in Illinois, Texas, Oklahoma, New Mexico and Montana. One option is Adobe Reader which has a built-in screen reader. 312.653.7581 This new site may be offered by a vendor or an independent third party. 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. E-mail oureditor Blue Cross and Blue Shield of Oklahoma is a division of HCSC, a . 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. He has an MBA from Pepperdine University and a bachelors degree from Roosevelt University. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. CHICAGO Blue Cross and Shield of Illinois (BCBSIL), a division of Health Care Service Corporation (HCSC), today announced Stephen Harris has been named the new Illinois president. Health Care Service Corporation, a Mutual Legal Reserve Company. The data presented on this page does not represent the view of HCSC and its employees or that of Zippia. The average employee at HCSC makes $58,172 per year. Maurice Smith is a President/CEO at Health Care Service Corporation; Board Member at VENTAS, INC.; and Board Member at ROOSEVELT . To view this file, you may need to install a PDF reader program. 1 salaries for 1 jobs at Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC in San Jose, CA Area. Steiner, who spent more than three decades at Blue Cross & Blue Shield companies, left after disagreeing with directors over long-term growth plans. 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 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. Chairperson: Maurice Smith. This story first appeared in our sister publication, Crain's Chicago Business. Most PDF readers are a free download. Optically, it's going to be awkward, but it was for 2019 performance.". We are driven by our collective company purpose: To do everything in our power to stand with our members in sickness and in health . Altogether, Lesar and Steiner were paid about $25 million, not counting Steiner's severance pay. Health Care Service Corporation All Rights Reserved. BCBSIL is dedicated to innovation and exploring, nurturing and activating future possibilities to make the health care system work better for our members and our communities. HCSC is ranked #91 on the Best Health Care Companies to Work For in America list. File is in portable document format (PDF). Since HCSC is not a public company, "there's very little oversight and very little transparency," Hertelendy says. 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. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. The biggest winner was Paula Steiner, who stepped down as CEO in July. by Stephen Ondra. He previously was President of HCSC's Illinois Plan, the states largest health insurance company. In fact, HCSC's 2019 payouts come at a time of great uncertainty for health insurance companies. Improving the Patient Financial Experience Throughout the Patient Journey. HCSC paid more for CEO services last year than two larger health insurers. Dr. Opella Ernest is responsible for commercial markets in HCSC's five geographies, as well as national account growth and clinical operations. 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. The company owns Blue Cross and Blue Shield of Illinois. HCSC's membership was approximately 16 million at December 31, 2019. books, conferences, travel to present research, etc.) In comparison, some of its highest paying competitors, like. 130 E. Randolph St. The company owns Blue Cross and Blue Shield of Illinois. In her former role as Executive Vice President, Chief Operating Officer, Opella transformed HCSC's customer and provider experience through advancements in technology and innovation. "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. The site may also contain non-Medicare related information. 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.". Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. 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. "His track record of leading multi-stakeholder teams, along with his strong connection to the Illinois business and civic community will help position BCBSIL for continued success in this fast-changing healthcare environment.". Blue Cross and Blue Shield of Texas is a division of HCSC, a Mutual . [7] Steiner, who spent more than three decades at Blue Cross & Blue Shield companies, left after disagreeing with directors over long-term growth plans.

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