Compensation at Blue Cross Blue Shield plans increased by an average of 5.9 percent in 2022, according to an analysis from Sherlock and Company.
The report, published June 19, found increased compensation and staffing ratios are two of the factors driving a 7.2 percent increase in administrative costs.
Median compensation at the 17 plans surveyed was $130,000 in 2022, according to Sherlock and Company. The report noted that the 5.9 percent increase in compensation was below the rate of inflation in 2022.
The following positions saw notable increases in compensation at BCBS companies in 2022, according to the report:
- Advertising and promotion
- Medical management, quality assurance and wellness
- Corporate executives and governance
Plans upped their member-to-full-time-employee ratio by 1.9 percent in 2022. Plans had an average of 20.6 full-time employees per 10,000 members.
A spokesperson for the Blue Cross Blue Shield Association previously told Becker's the association did not have a comment on the report's findings.
See the full report here.