Members of Massachusetts health insurer boards are divided over whether board members should suspend or rethink their pay, as several directors say they will continue to receive compensation for their work at the non-profit payors, according to a Boston Herald report.
Mary Ann Tocio, president and COO of Bright Horizons, who sits on the Harvard Pilgrim Health Care board, and Barry Shemin, former John Hancock boss, who sits on the Tufts Health Plan board, have made it clear they will not give up their compensation in response to the suspension of pay for board members at Blue Cross Blue Shield of Massachusetts.
Blue Cross Blue Shield of Massachusetts "substantially reduced" the compensation of its new CEO and indefinitely suspended the fees paid to its board of directors in March following massive criticism over the $11 million severance package paid to former CEO Clive Killingsworth.
Board members of some other health insurers have followed suit: Public relations expert Thomas P. O'Neill III decided to donate his Tufts board salary to the city's homeless population, while Deborah Jackson quit the Harvard Pilgrim board. Meanwhile, Massachusetts Attorney General Martha Coakley is wrapping up her report on director pay at Harvard Pilgrim, Tufts, Blue Cross Blue Shield of Massachusetts and Fallon Community Health Plan. According to the report, she has not yet decided whether health insurers should be allowed to pay their board members.
Read the Boston Herald report on health insurer pay.
Read more on the controversy over Massachusetts health insurer board pay:
-Blue Cross Board Members' Pay Suspension Will Not Fix Rising Healthcare Costs
-Two More Health Insurers Rethink Board Pay Following Blue Cross Decision
Mary Ann Tocio, president and COO of Bright Horizons, who sits on the Harvard Pilgrim Health Care board, and Barry Shemin, former John Hancock boss, who sits on the Tufts Health Plan board, have made it clear they will not give up their compensation in response to the suspension of pay for board members at Blue Cross Blue Shield of Massachusetts.
Blue Cross Blue Shield of Massachusetts "substantially reduced" the compensation of its new CEO and indefinitely suspended the fees paid to its board of directors in March following massive criticism over the $11 million severance package paid to former CEO Clive Killingsworth.
Board members of some other health insurers have followed suit: Public relations expert Thomas P. O'Neill III decided to donate his Tufts board salary to the city's homeless population, while Deborah Jackson quit the Harvard Pilgrim board. Meanwhile, Massachusetts Attorney General Martha Coakley is wrapping up her report on director pay at Harvard Pilgrim, Tufts, Blue Cross Blue Shield of Massachusetts and Fallon Community Health Plan. According to the report, she has not yet decided whether health insurers should be allowed to pay their board members.
Read the Boston Herald report on health insurer pay.
Read more on the controversy over Massachusetts health insurer board pay:
-Blue Cross Board Members' Pay Suspension Will Not Fix Rising Healthcare Costs
-Two More Health Insurers Rethink Board Pay Following Blue Cross Decision