maurice smith hcsc salary

Share Your Experience Healthcare Services Group vs competitors Healthcare Services Group salaries vs Competitors Copyright Health Care Service Corporation. Employees at the parent company, HCSC, earn $58,172 whereas employees at Medecision earn $89,566, on average. S Maurice Smith earned $918,091 in his NFL career. Humana and Cigna, for example, paid their chairmen $544,044 and $575,352, respectively. Health Care Service Corporation, a Mutual Legal Reserve Company. Maurice Smith, president of Blue Cross and Blue Shield of Illinois, was named president of HCSC. But insurers will soon get bills for COVID-19 treatments. The oldest company is HCSC, founded in 1936. Health Care Service Corporation Location 300 E Randolph St, Chicago, Illinois, 60601, United States Description Read More Help other job seekers by rating HCSC. HCSC is the largest customer-owned health insurer in the United States, covering over 16 million members across its . Health Care Service Corp. said Tuesday its president, Maurice Smith, will add the title of CEO effective June 1. Maurice Smith, who took the helm last June, got a 63 percent boost to $5.9 million, while longtime board Chairman Milton Carroll's pay jumped 81 percent to $8.9 million. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. 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. He's not the only high-level connection linking HCSC and the Houston-based energy industry giant. Work At Healthcare Services Group? 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 company owns Blue Cross and Blue Shield of Illinois. . Maurice Smith signed a 1 year, $850,000 contract with the Tennessee Titans, including an average annual salary of $850,000. 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. HCSC's mission statement is "To provide products and services of the highest quality and value with a direct focus on meeting the needs of customers.". Carroll's compensation "reflects the additional time, effort, focus and input during this time of transition.". Greg Thompson The biggest winner was Paula Steiner, who stepped down as CEO in July. You are leaving this website/app ("site"). Smith, who joined Health Care Service as an intern nearly 27 years ago, will be the first permanent CEO of Health Care Service since Paula Steiner surprised company observers by stepping down less than a year ago after a four-year stint as the companys top executive. Using a database of 30 million profiles, Zippia estimates demographics and statistics for HCSC. HCSC's revenue continues to be concentrated in Illinois and Texas, accounting for 83% of premium for the full year 2017. Healthcare organizations ask HHS to delay quality measure reporting for ACOs. The Pullman community has seen plenty of long-awaited successes in recent years. CHICAGO, March 31, 2022 /PRNewswire/ -- Blue Cross and Shield of Illinois (BCBSIL), a division of Health Care Service Corporation (HCSC), today announced Stephen Harris has been named the new. Claiming and updating your company profile on Zippia is free and easy. Her total compensation surged 120 percent to $31 millionabout $12 million of which was severance pay. 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. It has an unusually high proportion of employees who are members of the Democratic Party, at 68.0%. The average salaries at Change Healthcare rank the highest, with their employees earning an. HCSC's membership was approximately 16 million at December 31, 2019. HCSC, which owns Blue Cross plans in Illinois, Montana, New Mexico, Oklahoma and Texas, is navigating the pandemic without a permanent CEO. This new site may be offered by a vendor or an independent third party. Anthem chief Gail Boudreaux, a former HCSC executive, got $15.5 million, while Humana's Bruce Broussard received $16.7 million. Copyright document.write(new Date().getFullYear()) Health Care Service Corporation. Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC Salaries trends. He's not the only high-level connection linking HCSC and the Houston-based energy industry giant. In fact, HCSC's 2019 payouts come at a time of great uncertainty for health insurance companies. SALARY AND BENEFITS FOR 2023-2024 YEAR ARE: IN ADDITION: The County contributes 7.5% of an employee's gross base salary towards a Deferred Compensation Plan; Each resident receives an educational stipend ($1000 for PGY1, $1,800 for PGY2 and PGY3) for educational expenses (e.g. Later, enrollment numbers could drop as employers shed insured workers. None of the information on this page has been provided or approved by HCSC. Optically, it's going to be awkward, but it was for 2019 performance.". 1 salaries for 1 jobs at Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma & Texas | HCSC in San Jose, CA Area. Average HCSC Salary $58,172 yearly $27.97 hourly Updated March 16, 2023 $32,000 10% $58,000 Median $105,000 90% Best Health Care Companies to Work For in America, Best Health Care Companies to Work For in Illinois, Best Health Care Companies to Work For in Chicago, IL, Capital District Physicians' Health Plan Inc, Working At America's Health Insurance Plans, Working At BlueCross BlueShield of Tennessee. Revenue is also considered, but companies should be mindful that growth could result from higher prices, she says. Smith has spent most of his career with HCSC. Click here to get the full experience on your screen. Subsidiaries to HCSC include Medecision. Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Other Adobe accessibility tools and information can be downloaded at http://access.adobe.com. Carroll's compensation "reflects the additional time, effort, focus and input during this time of transition.". He notes that executive compensation is determined by the board, with guidance from outside advisers. (Photo By Raymond Boyd/Getty Images). And a $1.7 billion tax refund under the Trump administration's tax cuts drove a 226 percent rise in net income . 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., Health Care Service Corp. CEO Maurice Smith. Since HCSC is not a public company, "there's very little oversight and very little transparency," Hertelendy says. To provide products and services of the highest quality and value with a direct focus on meeting the needs of customers. At that time, David Lesar, will step down as the companys interim CEO; he will remain a member of the Board of Directors. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Executive pay keeps climbing at Blue Cross of Illinois' parent company, even as the health insurance giant lays off workers and looks for a new strategy. Headquartered in Chicago, HCSC has combined annual revenues of approximately $46 billion, over 272,000 physicians and other providers in its network, more than 24,000 employees and over 16. Altogether, Lesar and Steiner were paid about $25 million, not counting Steiner's severance pay. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. Stephen will succeed Steve Hamman, who has left the company to pursue new endeavors. with an average yearly salary of $73,175. 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 She previously served as HCSC's Chief Financial Officer of Government Programs where she was responsible for the comprehensive financial analysis for the government product lines for both Medicare and Medicaid, including financial planning and analysis, actuarial pricing, risk adjustment and revenue management. Work At Florida Blue? Blue Cross and Blue Shield of Oklahoma is a division of HCSC, a . Thompson said the company doesnt plan any additional job cuts. 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. Suite 3200 A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. Writers say that in the streaming era they are not being paid enough. In addition, some sites may require you to agree to their terms of use and privacy policy. 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. greg_thompson@hcsc.net. $68,524 to the Democratic Party. 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. The turnover has been expensive. Burning Oil Tanker Off Malaysian Rings Shadow-Fleet Alarm Bells, IsBuy Now, Pay Later aGood Option for Your Groceries? "Mauricehas deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront, and the opportunities we have now to advance our purpose, Lesar said in a statement. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Dr. Opella Ernest is responsible for commercial markets in HCSC's five geographies, as well as national account growth and clinical operations. Improving the Patient Financial Experience Throughout the Patient Journey. Since that time, he worked in many functions at HCSC assuming increased responsibility, excelling in each position and demonstrating solid strategic leadership. A former president of Blue Cross Illinois, Smith has worked for HCSC for 27 years, starting as an intern. HCSC may also be known as or be related to HCSC, Health Care Service, Health Care Service Corporation, HEALTH CARE SERVICE CORPORATION, Health Care Service Corporation Illinois State Pac, Nfp and Blue Cross And Blue Shield Of Illinois, Montana, New Mexico, Oklahoma We use innovative tools and approaches to help members get the most out of their plan benefits, as affordably as possible. . Smith, who has been with HCSC for more than two decades, has served as president of its . Board member David Lesar, who took over as interim CEO, pocketed $6.2 million; Maurice. With unemployment skyrocketing in the wake of anti-contagion measures that have essentially locked down the economy, HCSC could see enrollment in its employer-based insurance plans drop. Anthem chief Gail Boudreaux, a former HCSC executive, got $15.5 million, while Humana's Bruce Broussard received $16.7 million. He also serves as Vice Chair of the HCSC Board of Directors. [7] Health Care Service Corp. said Tuesday its president, Maurice Smith, will add the title of CEO effective June 1. "Maurice has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront, and the opportunities we have now to advance our purpose. Smith, 48, will succeed David Lesar, who was the interim CEO. HCSC has great employee retention with staff members usually staying with the company for 5.9 years. HCSC is ranked #91 on the Best Health Care Companies to Work For in America list. And claims for deferred elective surgeries could pour in later this year or early in 2021, depending on when such procedures resume. HealthCare Services competitors are HCSC, Hhs - Hospital Housekeeping Systems, Silverado, and more. HCSC, which owns Blue Cross plans in Illinois, Montana, New Mexico, Oklahoma and Texas, is navigating the pandemic without a permanent CEO. Chicago, IL 60601 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. 130 E. Randolph St. Opportunities to be challenged and grow.. A working environment that embraces diversity!. . In comparison, some of its highest paying competitors, like. All Rights Reserved. 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. 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. With unemployment skyrocketing in the wake of anti-contagion measures that have essentially locked down the economy, HCSC could see enrollment in its employer-based insurance plans drop. HCSC employees are most likely to be members of the democratic party. Maurice Smith contract and salary cap details, including signing bonus, guaranteed salary, dead money, roster bonuses, and contract history. Health Care Service is the nations fifth-largest health insurer with nearly 16 million health plan members. In an internal memo about the layoffs, HCSC President Maurice Smith told employees, We made a number of changes to ensure we have the structure and resources to best serve our members now and into the future, Crains reported. In her former role as Executive Vice President, Chief Operating Officer, Opella transformed HCSC's customer and provider experience through advancements in technology and innovation. We will continue to take action to focus and execute on a strategy that will propel this exciting and innovative company into the next phase of its evolution, while providing long-term value to customers, medical and other health care providers, employees and other partners in the dynamic health care industry.. Based in Chicago, IL, HCSC is an industry leader with 22,001 employees and an annual revenue of $17.0B. Have an opinion about this story? Humana and Cigna, for example, paid their chairmen $544,044 and $575,352, respectively. 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 . 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 books, conferences, travel to present research, etc.) 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. Maurice Smith . 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. For example, the company's longtime board chairman profits when there's a transition at the top. The company owns Blue Cross and Blue Shield of Illinois. Maurice brings a broad perspective and deep understanding of the industry to his role from his 30 years of service with the company. Maurice Smith, Health Care Service Corporation: $5,904,535 (up 62.75 percent) 10. Health Care Service Corporation is part of the Insurance industry, and located in Illinois, United States. 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. The pandemic's financial impact on insurers isn't clear yet. "His track record of leading multi-stakeholder teams, along with his strong connection to the Illinois business and civic community will help position BCBSIL for continued success in this fast-changing healthcare environment.". Legislators have a chance at another one, and should pass a bill to find a private developer to revive the historic Hotel Florence. Maurice also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. The average employee at HCSC makes $58,172 per year. Passion and desire to learn the ins and outs of the health care industry. 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. Our estimates are verified against BLS, Census, and current job openings data for accuracy. Share Your Experience Florida Blue vs competitors Add Company Florida Blue salaries vs Competitors Help us make this company more transparent, I dont do work so how i tell you what is like for me or what is dislike for me, I like the flexibility that comes with the job, Every job has its up and downs but Id be glad if the pay was more. The turnover has been expensive. Maurice brings a broad perspective and deep understanding of the industry to his role from his 30 years of service with the company. Greg Thompson Carroll's compensation is far more than nonexecutive board chairmen got at comparable publicly traded health insurers. 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.. Meanwhile, HCSC recently cut hundreds of staffersmany of whom had senior manager and director titles. 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 . One option is Adobe Reader which has a built-in screen reader. Insiders at Health Care Service say Smith is very community-oriented and that will serve the companys health plans well as the industry moves to address social determinants of health. "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. Opinions expressed by Forbes Contributors are their own. 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. The biggest winner was former board member David Lesar, who served as interim CEO of HCSC from July 2019 through May 2020. Legislators have a chance at another one, and should pass a bill to find a private developer to revive the historic Hotel Florence. 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 million. The most common ethnicity at HCSC is White (60%). 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. Maurice S Smith, Health Care Service Corporation: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg New Economy Forum: Lighting a Path Through the Storm In the shadow of. 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. Stephanie Goldberg, Crain's Chicago Business, Clover Health settles shareholder lawsuit as delisting looms, States fighting scammers as Medicaid redeterminations resume, ESG: The Implementation Imperative Summit, More healthcare organizations at risk of credit default, Moody's says, Centene fills out senior executive team with new president, COO, SCAN, CareOregon plan to merge into the HealthRight Group, Blue Cross Blue Shield of Michigan unveils big push that lets physicians take on risk, reap rewards, Bright Health weighs reverse stock split as delisting looms. 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. HCSC competitors include Aetna, Humana, BlueCross BlueShield of South Carolina, Centene, UnitedHealth Group, IBX Foundation, WellCare Health Plans, Anthem, Express Scripts Holding, America's Health Insurance Plans, BlueCross BlueShield of Tennessee, Cigna, Florida Blue, HealthNet, Kansas Health Solutions, Capital District Physicians' Health Plan Inc, EmblemHealth, Harvard Pilgrim, Change Healthcare, HealthCare Services. Thompson says metrics at HCSC include "expanding access to coverage and efforts to help control the rise in medical costs for our members," in addition to market competitiveness and relevant peer data. The largest donation made to a political party by an HCSC employee was Such strategies will be tested in the future as the health care system continues to grapple with the spread of the coronavirus strain COVID-19 and high unemployment that is expected to disrupt health insurance coverage for many. At that time, David Lesar, will step down as the company's interim CEO; he will remain a member of the Board of Directors. It has also launched a special enrollment period for people who previously declined group coverage through their employer. 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. In an internal memo announcing the January layoffs, Smith said the company is focused on making changes that "ensure we have the structure and resources to best serve our members now and into the future.". Most providers seeking to outsource patient financing, Kaiser Foundation Hospitals' new nonprofit Risant Health is acquiring Geisinger Health, HCA expects to invest $4.6B for land for new hospital development, Feds ask pharmacies to donate unused N95 masks, Bright Health explores sale of California MA business, Health benefit costs expected to rise 5.4% in 2023, Adverse events among inpatient admissions hit 25% in 2018, HIMSSCast: About 40-50% of hospital patient balances remain unpaid, 94% of physicians report care delays due to prior authorization, AMA says, Labor picture improving for hospitals, nursing homes, Real-time visualizations improved care at UVA, Medical devices are inherently vulnerable to security breaches, Physicians would rather leave than work for Envision, doctor says, Providence announces $712M expansion in southern California, Ex-Outcome execs convicted in $1B fraud scheme, Health policy post-Dobbs a 'confusing muddle', Sentara Healthcare moves into the community, CMS releases three initiatives to grow ACOs, Q&A: CMS' extension of Acute Hospital Care at Home indicates potential permanent program, Hospitals face direct competition from the 'retailization' of healthcare, CVS Health names Brian Kane president of Aetna, Practices keeping close watch on risk adjustment coding, CMS overhauls meaningful use as 'Promoting Interoperability', CMS proposes national standards for Medicaid and CHIP, Intermountain improved the patient experience through digital access, AHIP launches ad campaign calling out Big Pharma on drug prices, Healthcare professionals not speaking to patients about guns, UPMC for You offers Medicaid redetermination coverage in laundromats, Stanford finding success with inpatient telehealth, CVS and Signify's $8B deal expected to close this week, Payers must change dynamic with providers to survive in the post-Affordable Care Act world, CancerX innovation accelerator is the next phase of Moonshot, Senate strikes down healthcare worker vaccine mandate, CDC relaxes indoor mask guidance, including for schools, CA lawmakers introduce bill mandating workplace vaccinations, CVS files patent to sell healthcare services in the metaverse.

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