- The Progressive Pulse - http://pulse.ncpolicywatch.org -

BCBSNC CEO Bob Greczyn is one of the highest paid insurance executives in the nation

As Blue Cross and Blue Shield of North Carolina was busy bamboozling [1] the State Health Plan, cutting radio ads to attack state employees, and plotting [2] commercials to bash President Barack Obama’s health reform effort, CEO Bob Grezcyn raked [3] in $3.99 million in pay for 2008.

A new analysis [4] of the top ten highest paid insurance company CEOs shows that Grezcyn would make the list if BCBSNC were a public company. Poor Stephen Hemsley at UnitedHealth Group made a measly $3.2 million in 2008 while Richard Barasch of Universal American scraped by with $3.5 million.

That would put Grezcyn at number nine on the list and Hemsley would fall out of the top ten. To move up a notch Grezcyn would need to eek enough out of policy holders to make $4.4 million, which is how much Health Net CEO Jay Gellert brought home in 2008.

What a bummer for Grezcyn, only the ninth highest paid insurance executive in the nation. Well, there’s always 2009 — and this one is already shaping up to be a heck of a year for the state’s largest insurer.