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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. Click here to get the full experience on your screen. HCSC paid more for CEO services last year than two larger health insurers. 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 312.653.7581 This story first appeared in our sister publication, Crain's Chicago Business. We come to work every day to make a difference, and we deliver the highest quality and best solutions to our members. Thompson did not say how many hours per week Carroll, who is also a director at oil services company Halliburton, devotes to HCSC business. It has an unusually high proportion of employees who are members of the Democratic Party, at 68.0%. In fact, HCSC's 2019 payouts come at a time of great uncertainty for health insurance companies. Average HCSC Salary $58,172 yearly $27.97 hourly Updated March 16, 2023 $32,000 10% $58,000 Median $105,000 90% Salaries posted anonymously by Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC employees in San Jose, CA Area. 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 As the healthcare industry continues to rapidly transform, our IT team conceives, develops and delivers impactful technology solutions to support access to quality, affordable healthcare for our members. The 10 highest-paid employees at the parent company of several of the nation's Blue Cross Blue Shield plans received a combined $70 million last year, up 58% from 2018. 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.. Chicago-based Health Care Service Corporation has named Maurice Smith as president of Blue Cross and Blue Shield of Illinois, the largest of the company's five Blue Cross plans. Improving the Patient Financial Experience Throughout the Patient Journey. Health Care Service Corporation, a Mutual Legal Reserve Company. He also serves as Vice Chair of the HCSC Board of Directors. Passion and desire to learn the ins and outs of the health care industry. His total compensation surged 172% to $16.9 million. 400 employees to be cut from Blue Cross parent company: report, Netflix looks to curb password sharing, considers ads, Aiming to predict COVID, future pandemics better, CDC opens infectious diseases forecasting center, Joliet farmers wrangle cows thrown from semitrailer after crash on Interstate 80, 1 killed, 3 wounded in shootings Tuesday in Chicago, Obama relatives sue Milwaukee school alleging racial bias, Unmasked transit: Pritzker ends mask mandates in public transportation, airports, The Edgar haircut is one more thing kids, parents can disagree on, Charges filed in stabbing of Loop Target employee, 7 big questions facing Bears after NFL Draft, Pullmans Hotel Florence deserves a chance to welcome guests again, Hollywood writers, slamming gig economy, vote to go on strike, Treasurys Yellen says U.S. could default as soon as June 1, First Republic Bank seized, sold in fire sale to JPMorgan. "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. Later, enrollment numbers could drop as employers shed insured workers. 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. The average employee at HCSC makes $58,172 per year. He also serves as Vice Chair of the HCSC Board of Directors. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. About Health Care Service Corporation 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. The Writers Guild of America said its 11,500 unionized screenwriters will walk the picket line Tuesday. . In addition, some sites may require you to agree to their terms of use and privacy policy. Her total compensation surged 120 percent to $31 millionabout $12 million of which was severance pay. 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. MH magazine offers content that sheds light on healthcare leaders complex choices and touch pointsfrom strategy, governance, leadership development and finance to operations, clinical care, and marketing. 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 . 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. Have an opinion about this story? Its the third midsize bank to fail in two months. Anthem chief Gail Boudreaux, a former HCSC executive, got $15.5 million, while Humana's Bruce Broussard received $16.7 million. Smith, 48, will succeed David Lesar, who was the interim CEO. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. The Writers Guild of America said its 11,500 unionized screenwriters will walk the picket line Tuesday. HCSC and some other large insurers have agreed to cover certain patients' out-of-pocket costs for COVID-19 treatments, a move that could cost them money, unless they make it up in premium hikes. Since HCSC is not a public company, "there's very little oversight and very little transparency," Hertelendy says. by Stephen Ondra. 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. Other Adobe accessibility tools and information can be downloaded at Health Care Service Corporation, a Mutual Legal Reserve Company. Blue Cross and Blue Shield of Texas is a division of HCSC, a Mutual . The Pullman community has seen plenty of long-awaited successes in recent years. $68,524 to the Democratic Party. Blue Cross owner names Maurice Smith as CEO, Netflix looks to curb password sharing, considers ads, Aiming to predict COVID, future pandemics better, CDC opens infectious diseases forecasting center, Joliet farmers wrangle cows thrown from semitrailer after crash on Interstate 80, 1 killed, 3 wounded in shootings Tuesday in Chicago, Obama relatives sue Milwaukee school alleging racial bias, Unmasked transit: Pritzker ends mask mandates in public transportation, airports, The Edgar haircut is one more thing kids, parents can disagree on, Charges filed in stabbing of Loop Target employee, 7 big questions facing Bears after NFL Draft, Pullmans Hotel Florence deserves a chance to welcome guests again, Hollywood writers, slamming gig economy, vote to go on strike, Treasurys Yellen says U.S. could default as soon as June 1, First Republic Bank seized, sold in fire sale to JPMorgan. Most PDF readers are a free download. Smith is succeeding Karen Atwood as head of the 7.3 million member BCBSIL, after almost six years. 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. Health Care Service Corporation Location 300 E Randolph St, Chicago, Illinois, 60601, United States Description Read More On average, employees at HCSC stay with the company for 5.9 years. 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. May 05, 2020, 14:02 ET. Carroll's compensation is far more than nonexecutive board chairmen got at comparable publicly traded health insurers. Using a database of 30 million profiles, Zippia estimates demographics and statistics for HCSC. Her total compensation surged 120% to $31 millionabout $12 million of which was severance pay. He has held many senior financial management roles at HCSC, including head of corporate transactions and investment strategies. Like its rivals, HCSC has agreed to waive some patients' out-of-pocket costs for COVID-19 treatments, as well as prior authorizations and COVID-19 tests, in addition to expanding virtual health care coverage. The biggest winner was Paula Steiner, who stepped down as CEO in July. He notes that executive compensation is determined by the board, with guidance from outside advisers. Zippia gives an in-depth look into the details of HCSC, including salaries, political affiliations, employee data, and more, in order to inform job seekers about HCSC. Thompson did not say how many hours per week Carroll, who is also a director at oil services company Halliburton, devotes to HCSC business. But insurers will soon get bills for COVID-19 treatments. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. He's not the only high-level connection linking HCSC and the Houston-based energy industry giant. "Nobody is holding them accountable so, realistically, they can do whatever they want.". We are driven by our collective company purpose: To do everything in our power to stand with our members in sickness and in health . some sites may require you to agree to their terms of use and privacy policy. Greg Thompson But Health Care Service has publicly said for years its not interested in becoming an investor-owned company even as its rivals like UnitedHealth Group, the Aetna unit of CVS Health, Anthem and Cigna get bigger through acquisitions. 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. 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. CHICAGO, May 5, 2020 /PRNewswire/ -- Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief . 2023 Healthcare Finance is a publication of HIMSS Media, Quantum computing poised to transform healthcare, AHA wants Congress to intervene in Medicare and Medicaid payments, Behavioral health access needs remote care and AI, Ending racism in healthcare often begins with medical education - and is the target of a new national project. 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. 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. Writers say that in the streaming era they are not being paid enough. 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. Share Your Experience Healthcare Services Group vs competitors Healthcare Services Group salaries vs Competitors Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. This new site may be offered by a vendor or an independent third party. One option is Adobe Reader which has a built-in screen reader. I write about healthcare business and policy, Blue Cross Blue Shield Building, home of Health, Care Service Corp. as photographed from Maggie Daley Park in Chicago, Illinois on June 24, 2017. books, conferences, travel to present research, etc.) greg_thompson@hcsc.net, A Division of Health Care Service Corporation, a Mutual Legal Reserve Company, an Independent Licensee of the Blue Cross and Blue Shield Association. HCSC employees are most likely to be members of the Democratic Party. (Photo By Raymond Boyd/Getty Images). "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. Crains Chicago Business reported that the layoffs come a month after HCSC got rid of a few dozen middle management jobs and six months after CEO Paula Steiner left the company. Stephen will succeed Steve Hamman, who has left the company to pursue new endeavors. 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 . 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. Revenue is also considered, but companies should be mindful that growth could result from higher prices, she says. 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. Contract Terms: 1 yr(s) / $850,000 Signing Bonus - One option is Adobe Reader which has a built-in screen reader. The Pullman community has seen plenty of long-awaited successes in recent years. Executive pay keeps climbing at Health Care Service Corp., even as the health insurance giant lays off workers and looks for a new strategy. He will begin this new position immediately. Employees at Select Rehab Inc earn more than most of the competitors, with an average yearly salary of $72,776. . 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. 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, said Maurice Smith. He was most recently head of the treasury department and corporate development, overseeing strategic partnerships, mergers and acquisitions, including the takeover of Blue Cross and Blue Shield of Montana in 2013. 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 Our IT team unleashes the power of this purpose through technology. Legislators have a chance at another one, and should pass a bill to find a private developer to revive the historic Hotel Florence. Maurice Smith is a President/CEO at Health Care Service Corporation; Board Member at VENTAS, INC.; and Board Member at ROOSEVELT . The health care industry is facing a transition from fee-for-service to paying for value, Crain's reported. Other Adobe accessibility tools and information can be downloaded at http://access.adobe.com. Altogether, Lesar and Steiner were paid about $25 million, not counting Steiner's severance pay. And claims for deferred elective surgeries could pour in later this year or early in 2021, depending on when such procedures resume. 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. Opportunities to be challenged and grow.. A working environment that embraces diversity!. 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. Writers say that in the streaming era they are not being paid enough. Help other job seekers by rating HCSC. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. Carroll's compensation "reflects the additional time, effort, focus and input during this time of transition.". At that time, David Lesar, will step down as the companys interim CEO; he will remain a member of the Board of Directors. The turnover has been expensive. In the second-largest bank failure in U.S. history, officials seize First Republic Bank, selling its deposits and most of its assets. 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 is a mutual insurer owned by policyholders. Maurice Smith . Carroll collected $930,347 in 2018, after getting nearly $5 million in each of the two previous years as part of a deal to oversee the leadership transition when Steiner succeeded Hall. 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.. We come to work every day to make a difference, and we deliver the highest quality and best solutions to our members. Dr. Opella Ernest is responsible for commercial markets in HCSC's five geographies, as well as national account growth and clinical operations. 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. 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. He notes that executive compensation is determined by the board, with guidance from outside advisers. Employees at the parent company, HCSC, earn $58,172 whereas employees at Medecision earn $89,566, on average. The site may also contain non-Medicare related information. Board member David Lesar, who took over as interim CEO, pocketed $6.2 million; Maurice. 11% of HCSC employees are Black or African American. He said he will continue to work to expand access to quality, cost-effective health care. This new site may be offered by a vendor or an independent third party. He has an MBA from Pepperdine University and a bachelors degree from Roosevelt University. 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. A new business model for residential power enables people to switch to solar without the up-front cost of home installation, a critical step in bringing lower-income Americans into the green fold. Lesar will remain a member of the company's board. The site may also contain non-Medicare related information. For example, the company's longtime board chairman profits when there's a transition at the top. The nation's sixth-largest health insurer cut "a few dozen" staffers late last yearfollowed by an additional 400 in Januaryand needs to step up growth to compete with rivals. 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. HCSC and some other large insurers have agreed to cover certain patients' out-of-pocket costs for COVID-19 treatments, a move that could cost them money, unless they make it up in premium hikes. Smith has spent most of his career with HCSC. 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. And a $1.7 billion tax refund under the Trump administration's tax cuts drove a 226 percent rise in net income . Carroll's compensation is far more than nonexecutive board chairmen got at comparable publicly traded health insurers. Maurice Smith signed a 1 year, $850,000 contract with the Tennessee Titans, including an average annual salary of $850,000. Subsidiaries to HCSC include Medecision. 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. With nearly 16 million customers, HCSC also owns Blue Cross health plans in Montana, New Mexico, Oklahoma and Texas. Maurice brings a broad perspective and deep understanding of the industry to his role from his 30 years of service with the company. We are more than a health care insurer and we are truly anchored in our purpose: to do everything in our power to stand by our members in sickness and in health. 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, said Maurice Smith.

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