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NC Blue Cross – 2008 Executive and Board Compensation

We post the official executive compensation document from the NC Department of Insurance. Some highlights:

CEO Bob Greczyn: $3.99 million [$759,000 raise] COO [And UNC Board of Governors member] Brad Wilson: $1.78 million [$433,500 raise]

For simply serving on the nonprofit Blue Cross board, folks with other full-time jobs like Harold Martin, a top UNC university official, were paid $35,000 – $50,000. (Martin received $39,526.)

Lots of people losing their jobs in NC right now – but BC looks like a growth industry.

6 Comments

  1. Eugene Barufkin

    March 5, 2009 at 10:47 pm

    I say again – Limit the top “compensation*” to $400,000.
    BCBS is operating under non-profit statutes.
    Can the GA do this????
    Adam, your the attorney. What say ye?
    And what about specifying accounting procedures and doing audits?
    *In any form, current or deferred cash or stock.

  2. Adam Searing

    March 6, 2009 at 10:38 am

    Sure the General Assembly could pass a law regulating BC more heavily. Given their track record in doing that so far however, I wouldn’t hold my breath.

  3. B Wright

    March 6, 2009 at 12:31 pm

    Why hasn’t anyone looked into how much BC gave to the political campaigns of Tony Rand and other legislators? I think it would be very interesting!

  4. Adam Linker

    March 6, 2009 at 3:13 pm

    Blue Cross and its executives give huge amounts to get legislators elected. Pointing that out hasn’t shamed lawmakers into controlling Blue Cross.

    Here are the numbers for 2008: http://www.followthemoney.org/database/StateGlance/contributor.phtml?d=221699685

    In addition Blue Cross executives hold swanky fundraisers and sponsor the governor’s inaugural ball.

  5. Marsha V. Hammond, PhD

    March 11, 2009 at 3:54 pm

    Wednesday, March 11, 2009
    http://madamedefarge2scutinizingbcbsnc.blogspot.com/

    $16 Million paid to BCBSNC Board Members: the Ponzi scheme that the insured have paid into

    …per the Progressive Pulse pdf (why is that bar code across the top indicating these ‘payments’? Were we supposed to pay something and we didn’t! Gosh, I forgot, we HAVE been paying something)……

    You will see that the 13 members of the BCBSNC board 2008 reimbursement is approximatly $16 million.

    Gee, I wonder why our premiums keep going up?

    Gotta keep up with the Greczyn’s.
    Posted by Marsha V. Hammond, PhD

  6. […] to show how the company is standing in the way of reform. Remember, Bob Greczyn has 4 million reasons to oppose any changes to our current health care system. Share and […]