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You are here News Economy Excellus board voted itself a 37 percent pay raise

Excellus board voted itself a 37 percent pay raise

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The raises for the 17 outside directors came at the same time the nonprofit insurer lost money on its operations and cut the pay of its top executives.

The same year, Excellus increased health insurance rates on average 8 percent. For 2010, the insurer raised its rates an average of 8.8 percent. Both years, some customers saw substantially higher rate increases.

The board meets five times a year. Directors attend these meetings over a two-day period along with committee meetings, according to Excellus spokeswoman Elizabeth Martin. There are more than 40 committee and ad hoc committee meetings annually.


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