Blue Shield CEO Bruce Bodaken "earned" $4.6 million last year

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Xpost with Health forum, the quotes around "earned" are mine.

For the first time, California's largest nonprofit health insurer has released the salaries of its 10 highest-paid executives in response to a new state law intended to keep healthcare insurance costs under control.

The top earner at Blue Shield of California was Chief Executive Bruce Bodaken, who made $4.6 million last year — more than four times the salary of his counterpart at the state's largest for-profit insurer, Anthem Blue Cross.

San Francisco-based Blue Shield revealed Bodaken's salary in documents filed with the state's insurance commissioner, who had demanded the information under the law that allows regulators to examine executive salaries and other criteria to determine whether insurance rate increases are "unreasonable."

In its report to the state, Blue Shield said that its 10 highest-paid executives earned more than $14 million total last year. The insurer identified the executives only by number, saying each earned $749,643 to $4,601,226. The top earner was listed as "chief executive officer," Bodaken's title.

http://www.latimes.com/health/healthcare/la-fi-insurer-executive-pay-20110526,0,264582.story