Executive Compensation at BCBS Massachusetts HMO Blue (2024)

Blue Cross Blue Shield (BCBS) is the leading health insurer in Massachusetts with BCBS Massachusetts HMO Blue (BCBS HMO), the non-profit subsidiary focused on HMO coverage plans.  Based in Boston, MA, BCBS HMO reported total revenue of $5.9 billion in 2024 with the primary source of revenue reported to be premiums ($5.8 billion).  Expenses totaled $6.1 billion (including $64 million in depreciation) with the largest expenses reported to be benefits paid to members ($5.4 billion) and compensation ($225 million).

BCBS HMO reports 139 employees as the total number of individuals employed in 2024 but this appears to be an error as the organization also reports that 227 individuals received more than $100,000 in compensation in 2024 with 12 of the highest compensated reported to be:

• $7,197,118:  Sarah Iselin, Director, President, and CEO
• $3,072,897:  Ruby Kam, Director, EVP, and CFO
• $2,921,387:  Andrew Dreyfus, Former Director, President and CEO
• $2,817,579:  Richard Lynch, Director, SVP, and COO
• $2,667,315:  Andreana Santangelo, Former Director, EVP, and CFO
• $1,403,015:  Linda Williams, Former SVP and Chief Audit Executive
• $1,076,336:  Michael Gurriere, SVP and Chief Actuary
• $1,032,300:  Anthony Criscuolo, VP of Treasury and Investments
• $1,005,841:  Donald Savery, Director, General Counsel, and Secretary
• $   865,372:  Dawn Perry, SVP, Chief Risk and Audit Officer
• $   599,061:  Stephanie Lovell, Former Director and Chief Legal Officer
• $   446,479:  Alona Abalos, VP and Assistant Clerk

The 12 highly compensated employees listed above received $25 million in compensation in 2024, or an average of $2.1 million each.  6 of the 12 are male while 6 are female.  4 of the 12 (25%) of the employees listed above are former employees.

BCBS HMO paid for first class or charter travel.

At year-end, the organization had $2.2 billion in net assets.

To read the IRS Form 990 (2024), click here.