maurice smith hcsc salary

To view this file, you may need to install a PDF reader program. 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 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. He also serves as Vice Chair of the HCSC Board of Directors. Anthem reported $104.2 billion in revenue last year and Humana booked $64.9 billion, compared with $38.6 billion for HCSC. Greg Thompson For more information, please visitHCSC.com, visit ourFacebookpageor follow us onTwitter. Improving the Patient Financial Experience Throughout the Patient Journey. There has been some speculation that it could become a part of Anthem, an investor-owned publicly traded operator of Blue Cross and Blue Shield plans in 14 states. 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. 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. Blue Cross and Blue Shield of Texas is a division of HCSC, a Mutual . 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. He's not the only high-level connection linking HCSC and the Houston-based energy industry giant. 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.. The largest donation made to a political party by an HCSC employee was And claims for deferred elective surgeries could pour in later this year or early in 2021, depending on when such procedures resume. This new site may be offered by a vendor or an independent third party. I am honored to lead HCSC, a company that for more than 90 years has focused on innovation, execution and through the dedication of our nearly 24,000 employees helped expand access to quality, cost-effective health care to all Americans, Smith said in a statement. The nation's fourth largest insurer is calling on the leader of its flagship plan to manage technology and services across its regions, while ushering in a new president at the 7 million member company. Thompson did not say how many hours per week Carroll, who is also a director at oil services company Halliburton, devotes to HCSC business. 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. by Stephen Ondra. Copyright Health Care Service Corporation. To view this file, you may need to install a PDF reader program. 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. 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. 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.". The company owns Blue Cross and Blue Shield of Illinois. He has held many senior financial management roles at HCSC, including head of corporate transactions and investment strategies. Hear the latest economic, business and market news, as well as global, national, and local news. Our estimates are verified against BLS, Census, and current job openings data for accuracy. 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. 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. The salaries at BlueCross BlueShield of Tennessee average $66,500 per year, and the salaries at EmblemHealth come in at $66,417 per year. Board member David Lesar, who took over as interim CEO, pocketed $6.2 million; Maurice. He previously was President of HCSC's Illinois Plan, the states largest health insurance company. 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. 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. 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. 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. "Maurice brings to this role a broad perspective and deep understanding of our business and operations rooted in more than 20 years of experience across corporate finance, treasury, business development and subsidiary management," said Colleen Reitan, HCSC executive vice president and head of plan operations. 1 salaries for 1 jobs at Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC in San Jose, CA Area. The company owns Blue Cross and Blue Shield of Illinois. Executive pay keeps climbing at Health Care Service Corp., even as the health insurance giant lays off workers and looks for a new strategy. Lesar said he is 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. 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. "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.". Chairperson: Maurice Smith. Health Care Service is the parent of Blue Cross and Blue Shield plans in Illinois, Texas, Oklahoma, New Mexico and Montana. Maurice also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. "Nobody is holding them accountable so, realistically, they can do whatever they want.". Maurice Smith has been working as a President & Chief Executive Officer at Health Care Service Corporation for 30 years. Most PDF readers are a free download. [7] "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. 15% of HCSC employees are Hispanic or Latino. 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. Smith, 48, will succeed David Lesar, who was the interim CEO. Smith is succeeding Karen Atwood as head of the 7.3 million member BCBSIL, after almost six years. The staff at HCSC come from unusually diverse demographic backgrounds. For example, the company's longtime board chairman profits when there's a transition at the top. HCSC employees are most likely to be members of the democratic party. 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. About Health Care Service Corporation 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. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. With nearly 16 million customers, HCSC also owns Blue Cross health plans in Montana, New Mexico, Oklahoma and Texas. The employee data is based on information from people who have self-reported their past or current employments at HCSC. He said he will continue to work to expand access to quality, cost-effective health care. Smith, 48, will succeed David Lesar, who was the interim CEO. Chicago, IL 60601 On average, employees at HCSC stay with the company for 5.9 years. A former president of Blue Cross Illinois, Smith has worked for HCSC for 27 years, starting as an intern. The Pullman community has seen plenty of long-awaited successes in recent years. 130 E. Randolph St. We come to work every day to make a difference, and we deliver the highest quality and best solutions to our members. Health Care Service Corporation Its the third midsize bank to fail in two months. HCSC's membership was approximately 16 million at December 31, 2019. HCSC is the largest customer-owned health insurer in the United States, covering over 16 million members across its . Humana and Cigna, for example, paid their chairmen $544,044 and $575,352, respectively. For more information, please visitHCSC.com, visit ourFacebookpageor follow us onTwitter. The massive raises come amid increasing cost pressures and rising uncertainty for the entire health care industry, and HCSC in particular. Employees at Change Healthcare earn more than most of the competitors, with an average yearly salary of $84,526. 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. He will begin this new position immediately. He also had a hand in directing HCSC's subsidiaries, including its its largest, Dearborn National Life 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. Our IT team unleashes the power of this purpose through technology. HCSC competitors include Aetna, Humana, BlueCross BlueShield of South Carolina, Centene, UnitedHealth Group, IBX Foundation, WellCare Health Plans, Anthem, Express Scripts Holding, America's Health Insurance Plans, BlueCross BlueShield of Tennessee, Cigna, Florida Blue, HealthNet, Kansas Health Solutions, Capital District Physicians' Health Plan Inc, EmblemHealth, Harvard Pilgrim, Change Healthcare, HealthCare Services. 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.At that time, David Lesar, will step down as the company's interim CEO; he will remain a member of the Board of Directors. 1-877-812-1590, CommonSpirit completes acquisition of five Utah hospitals, affiliated clinics, With hundreds of thousands of Illinoisans slated to lose coverage, Medicaid renewals resume, AbbVie, Bristol Myers vied for Prometheus before Merck bought it, Sponsored Content: Amazon discusses investing in the future of community, Another pillar of Chicago's financial sector is poised to follow Citadel to Miami, The Most Powerful Women In Chicago Business. At that time, David Lesar, will step down as the companys interim CEO; he will remain a member of the Board of Directors. Maurice Smith . Claiming and updating your company profile on Zippia is free and easy. 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 . [3] In 2010 HCSC nearly doubled its income to $1.09 billion, and began "a streak of billion-dollar profits for 4 straight years". "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. Help us make this company more transparent. Our IT team unleashes the power of this purpose through technology. The 10 highest-paid employees at Health Care Service Corp. got a combined $70 million last year, up 58 percent from 2018. 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. Health Care Service Corporation HCSC paid more for CEO services last year than two larger health insurers. We are driven by our collective company purpose: To do everything in our power to stand with our members in sickness and in health . But insurers will soon get bills for COVID-19 treatments. Other Adobe accessibility tools and information can be downloaded at http://access.adobe.com. Anthem chief Gail Boudreaux, a former HCSC executive, got $15.5 million, while Humana's Bruce Broussard received $16.7 million. "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. The health care industry is facing a transition from fee-for-service to paying for value, Crains reported. The Writers Guild of America said its 11,500 unionized screenwriters will walk the picket line Tuesday. We come to work every day to make a difference, and we deliver the highest quality and best solutions to our members.

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