Regence Executive Salaries in Washington Take a Tumble

April 15, 2010 – Compared to their Washington counterparts, Regence officials must be shaking in their boots.

 

Not only did the salaries of their highest paid executives plunge by as much as 36 percent, but their membership numbers went down as well in the individual, small and large group markets.  

 

Because of this downward spiral, Mark Ganz, CEO and president of The Regence Group, saw his salary in Washington state drop by 36 percent, down to $575,885. He still earned slightly over $1 million last year in both  Washington and Oregon, compared to $1.8 million in 2008. Ganz also receives compensation from Regence Group health plans in Idaho and Utah. However, the Insurance Divisions in those states are not required to disclose salary and benefits.

 

Ganz wasn’t the only Regence Group executive to watch his salary plummet. Three of his top lieutenants had shrinking paychecks. William Barr, vice president of operations, took a 15 percent pay cut in Washington, earning $364,196. His combined salary in Oregon and Washington was $642,421 compared to $808,045 the prior year.

 

Next in line came Steve Hooker, treasurer. He earned $291,786 from the Washington Regence plan, representing a 14 percent decrease, and took home another $234,068 in Oregon.

 

Kerry Barnett, executive vice president, had to be satisfied with a $252,455 compensation package in Washington, which represented a 19 percent decrease. His combined compensation in both states reached $482,602.

 

Regence’s enrollment numbers fell last year, as evidenced by the data submitted to the Washington Insurance Division. It must be pointed out, however, that self-insured groups such as Boeing, are not reflected in these totals.

 

Overall, Washington health insurance executive salaries were much higher than in Oregon. In Washington, all of the top 10 salary earners took home more than all but one of Oregon's top 10 earners.

 

Looking at the top paid insurance executives in Washington, Herbert Randle Brereton Barlow, president and CEO of Premera Blue Cross, topped the charts, taking home $2.2 million in 2009, which represented a 5 percent increase.

 

The second-place finisher, Scott Elliott Armstrong, president of Group Health Cooperative, earned $1.6 million, and saw his compensation package soar by 31 percent.