Blue Cross Execs Rake in Bonus Money
Posted March 5, 2008 4:27 p.m. EST
Chapel Hill, N.C. — 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.