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Blue Shield of California still in hot seat over executive pay

Blue Shield of California raised executive pay by $24 million in 2012, amounting to a 64% increase from the previous year, The Los Angeles Times previously reported. What concerns regulators is whether the company excluded some of its pay data from public filings in order to cloak massive sums paid to outgoing execs, including former CEO Bruce Bodaken.

Markovich says the company still won’t reveal how the money was distributed as the California insurance department continues to investigate.