Insurers Aetna, WellPoint bulk up executive pay

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Associated Press

Posted on April 2, 2014 at 12:01 PM

Updated Wednesday, Apr 2 at 12:02 PM

Soaring earnings and stock prices fueled a boom year 2013 for health insurers, and some of the biggest companies shelled out millions of dollars to keep or attract their leaders.

Aetna says in a regulatory filing that Chairman and CEO Mark Bertolini's total compensation more than doubled to top $30 million last year. This was largely driven by a one-time award of restricted stock and options valued at more than $17 million.

WellPoint says it gave new CEO Joseph Swedish $1.5 million in restricted stock for joining the company and about $3.8 million to make up for pay he forfeited leaving his old job. His compensation totaled nearly $17 million.

The AP's compensation calculations count salary, bonuses, perks and stock and options awarded during the year.

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