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Mark Ganz, who earned at least $4.1 million in 2019, will be replaced by Jared Short, the company's president and COO.
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Increased profits, especially in the second quarter of the year, were eye-popping for Kaiser Foundation Health Plan and Regence BlueCross BlueShield of Oregon.
The money is part of $35 million total that the insurer is paying out because patients couldn't access medical treatment in the early months of the pandemic.
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Commercial health insurers in Oregon struggled to stem financial losses through the first quarter of 2020, previewing what could be a chaotic year for the insurance industry as the coronavirus pandemic continues to upend the health care system.
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Oregon's largest commercial health insurers racked up solid profits through the first half of 2019, as they took advantage of a brief reprieve from an Affordable Care Act fee that has cost them millions of dollars in past years.
The roughly 350,000 Oregonians who buy individual or small-employer health insurance plans face a range of premium increases in 2020 going as high as 8.9 percent for individuals and 13.1 percent for small groups, under preliminary rates the state issued Wednesday.
Three of Oregon’s six largest commercial health insurers reported losses in 2018, as did several dental plans and Medicaid payers even though the market was fairly stable.
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Salem Health played hardball, and severed its contract with a long-standing insurer, United Healthcare, according to a memorandum sent by hospital officials that was obtained by The Lund Report.
A $3 million lawsuit in Multnomah County Circuit Court has been filed against Regence BlueCross BlueShield of Oregon, its parent company, Cambia Health Solutions, and its chief medical officer, Dr. Csaba Mera.
