Business has never been better for the largest health insurers in the country, which led to another record-setting windfall last year for their chief executives.
In 2022, the CEOs of the seven major publicly traded health insurance and services conglomerates — CVS Health, UnitedHealth Group, Cigna, Elevance Health, Centene, Humana, and Molina Healthcare — combined to make more than $335 million, according to a STAT analysis of annual financial disclosures. That was 18% more than the record from 2021. High-flying stock prices again fueled a vast majority of the gains.
More than half of the total, $181 million, went to a single executive: Joseph Zubretsky, the CEO of Molina, an insurance company that gets all of its revenue from taxpayer-funded health programs. More than 80% of Molina’s revenue comes from Medicaid, the state and federal insurance program that covers low-income people. Zubretsky’s compensation package is one of the largest ever among health insurance executives.
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