News Headlines Article

Blue Shield may be heading to showdown with regulators over executive pay
Los Angeles Times

In response to mounting criticism, Blue Shield of California’s chief executive is vowing to improve the nonprofit insurer’s poor ratings from patients and to disclose more about executive compensation.

But CEO Paul Markovich warned that certain details on executive pay will remain secret, portending a potential showdown with regulators.

Markovich has been dogged by questions for months surrounding the insurance giant’s nonprofit status, lack of transparency and repeated rate increases despite holding $4.2 billion in reserve.