Blue Cross Affordable Care Act Rates To Rise

Members enrolled in Blue Cross of Northeastern Pennsylvania’s Affordable Care Act plans will see their premium rates rise by an average of 6.9 percent in 2015.

Officials for the Wilkes-Barre-based insurer declined to specify how many members are covered by its Affordable Care Act plans. Its website shows 12 available 2014 “Blue (Affordable Care Act) Metal” plans.

“The increases are necessary to meet the coverage requirements, including essential health benefits, of the (Affordable Care Act) and to keep up with the cost of care for members in our ACA products,” said Anthony Matrisciano, spokesman for Blue Cross of NEPA, which has about 550,000 members across 13 counties.

The increase, effective Jan. 1, comes amid a state Insurance Department review of Highmark Inc.’s proposal to acquire Blue Cross of NEPA. It’s one of two rate hikes submitted by the insurer that received approval from the state Insurance Department.

Read more: http://citizensvoice.com/news/blue-cross-affordable-care-act-rates-to-rise-1.1789100

Highmark CEO Compensation Tops $6M

English: Highmark Place from PNC Park in Pitts...

English: Highmark Place from PNC Park in Pittsburgh, taken 2008 showing the new Highmark branding atop. (Photo credit: Wikipedia)

Last year, Highmark Inc. dished out more than $6 million to compensate its three CEOs.

In compensation figures filed with the state Department of Insurance this month, the state’s largest insurance company said it paid former CEO Kenneth Melani $3.3 million in 2012, even though he was fired April 1.  He was the highest-paid company employee for the year.

In fact, three of Highmark’s 10 highest-paid employees in 2012 are no longer with the company, having left early in the year.  In addition to Dr. Melani, former Highmark legal officer and corporate secretary Maureen Hogel and retired auditor and compliance officer Elizabeth A. Farbacher also had left Highmark by April.

Current Highmark CEO William Winkenwerder Jr., who was hired over the spring and began work July 16, took home $1.87 million in total compensation — $562,712 for his half-year of salary, plus a $1.18 million bonus and $131,000 in “other” compensation.

Read more: http://www.post-gazette.com/stories/business/news/highmark-ceo-compensation-tops-6m-679520/#ixzz2NiolPvSN