By: Chad Terhune
Kaiser Health News
05/26/2016
In its first detailed disclosure on executive pay, nonprofit Blue Shield of California said Chief Executive Paul Markovich made $3.5 million last year – a 40 percent increase since he took the top job in 2013.
The San Francisco-based health insurer has faced criticism for years from consumer advocates about its lack of transparency on executive compensation, and the issue attracted even more scrutiny after a state audit raised questions about the insurer’s big pay increases and large financial reserves.
Following that audit, in 2014, California revoked Blue Shield’s state tax exemption, which it had held since its founding in 1939.