Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Bright Health paid executives $3.77 million in bonuses as the business foundered

A health care strategist calls it "pay-for-failure."


March 21, 2023

Mike Mikan is the chief executive of Bright Health Group.

Bright Health paid its CEO and other top executives $3.77 million in cash bonuses last year, even as the Bloomington-based health insurer surrendered most of its core health insurance business in a sea of red ink.

Chief Executive Mike Mikan received $1.3 million in salary plus $1.69 million in bonus for 2022, according to a regulatory filing last week. His total compensation of nearly $3.5 million included his personal use of the company's leased aircraft, a perk valued at $121,507.

The company also paid nearly $2.1 million in bonuses split among four other executives, including one who received $765,000 after joining the company in May and leaving in December.


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