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
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.