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Blue Cross Execs Rake in Bonus Money

Posted March 5, 2008

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— Blue Cross and Blue Shield of North Carolina paid $7.2 million in performance bonuses last year to some of its top executives, according to an annual report to state regulators.

The bonuses led to double-digit pay increases for several executives at Blue Cross, the state's largest health insurer, according to the report.

Chief Executive Bob Greczyn earned $3.2 million in 2007, a 4 percent increase from 2006.

The nonprofit insurer reported a record $4.9 billion in revenue last year, and its net income rose 10 percent, to $209 million, the report said.

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  • yellowhorses Mar 6, 2008

    Finally, the truthful answer to why health insurance costs are so high.