Cigna's CEO isn't the insurer's highest-paid employee

Although Bloomfield, Conn.-based Cigna CEO David Cordani's total compensation in 2015 increased 80 percent to $49 million, he was not the insurer's highest-paid employee, according to the Hartford Courant.

Herbert Fritch, president of Nashville, Tenn.-based Cigna-HealthSpring — Cigna's Medicare and Medicaid arm — received $50.5 million in 2015.

Mr. Fritch's base compensation was $1 million, but his choice to exercise stock options that had gained $44.4 million boosted his total compensation. He also received a cash bonus and restricted stock options.

Additionally, these Cigna executives received the following amounts in compensation in 2015:

Thomas McCarthy, CFO: $4.6 million, excluding $2.7 million in stock and reward options

Nicole Jones, general counsel: $8.1 million, excluding $1.8 million in stock and additional options

More articles on payer issues:

Anthem sues Express Scripts in hopes of greater savings

Covered California seeks to cut underperforming hospitals from network

Antitrust committee will scrutinize mergers 'very, very carefully'

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.