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Health Plan Execs Receive Smaller Bonuses as Companies Push Performance-Based Pay, HPW Reports; Hanway Tops Others in Total Compensation
Date:5/13/2008

WASHINGTON, May 13 /PRNewswire-USNewswire/ -- Atlantic Information Services, Inc. (AIS) -- CEOs from several publicly traded health plans saw substantially smaller cash incentives in 2007 as compensation committees placed greater emphasis on performance-based awards, according to AIS's Health Plan Week (HPW). The May 12 HPW issue offers detailed information from more than a dozen health plans, and includes tables showing the top-paid executives.

UnitedHealth Group President and CEO Stephen Hemsley saw his annual base pay increase to $1.3 million in 2007 from about $1 million the previous year, according to HPW's analysis of the company's proxy statements. However, his stock-option awards dropped from $11.3 million in 2006 to $8.1 million in 2007, and his total compensation fell from $15.5 million to $13.2 million.

The newsletter also reports that CIGNA Corp. Chairman and CEO H. Edward Hanway was the top-paid health plan executive in 2007 with total compensation of nearly $26 million. While his stock awards fell from nearly $2 million in 2006 to $453,000 last year and his option awards decreased from about $6.0 million to $4.6 million, his bonus, which includes non-equity incentive plan compensation, soared from $11.2 million in 2006 to nearly $18 million. According to CIGNA's proxy statement, Hanway's total 2007 compensation was $25.8 million -- up from $21.0 million a year earlier.

Other top-earning health plan leaders, according to HPW, include Aetna Inc. CEO Ron Williams, who received cash incentives of $1.9 million in 2007, down substantially from the $7.7 million he received in 2006. Williams, however, received $12.8 million in stock-option awards in 2007, which was more than double what he received in 2006. Overall, his total compensation in 2007 was $23.0 million -- up from the $19.8 million reported for a year earlier.

Executive compensation figures for these health plan executives and others are available at '/>"/>

SOURCE Atlantic Information Services, Inc.
Copyright©2008 PR Newswire.
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