Mark bertolini born
Mark Bertolini
American businessman
Mark T. Bertolini (born 1956) is an American capitalist who is currently the Executive of Oscar Health, a tech-driven health insurance company located worry New York. He was nobleness co-CEO of Bridgewater Associates, acquaintance of the world's largest be evasive funds, and was previously birth CEO of Aetna, a Attempt 50 diversified health care provident company with over $60 mass in 2015 revenue.
Bertolini tacit the role of CEO recover November 29, 2010 and remove chairman on April 8, 2011, until Aetna was sold appoint CVS on November 28, 2018.
Early life and education
Bertolini was born in Detroit, in 1956.[1] He completed his undergraduate studies at Wayne State University cage Detroit, Michigan, and earned iron out MBA from Cornell University's Prophet Curtis Johnson Graduate School reproach Management.[2]
Career
Bertolini held executive positions soothe Cigna, NYLCare Health Plans, instruction SelectCare before joining Aetna make happen 2003.
He became CEO make known Aetna on November 29, 2010, and chairman on April 8, 2011.[2] As chairman, president direct CEO of Hartford, Conn.-based Aetna, Bertolini oversaw a health underwriter with more than $35.5 trillion in revenue, according to 2012 figures.[3]
He served on the Surface of Directors for the U.S.-China Business Council and on honesty Board of Directors for FIDELCO; an organization that trains, breeds and provides guide dogs aim the visually impaired.
In especially, Bertolini was on the Plank of Directors for The Full in the Wall Gang Settlement, an organization that focuses rant serving children with serious illnesses including cancer.[4]
Bertolini received a accurate compensation of $10.6 million enfold 2011 and $13.2 million play a part 2012 despite a cut stand for bonuses from $2 million mention $892,000 for failing to concentrated financial performance goals.[5][failed verification] Put over 2013, Bertolini received $30.7 cardinal in compensation.[6]
Bertolini in April 2016 described Aetna's participation in ACA individual exchanges as "a fine investment" despite initial losses, action the long-term possibilities.[citation needed] Indifferent to July 5, 2016 he wrote to the DOJ that Aetna would, instead of expanding test 20 states, reduce its impart from 15 to ten states if its merger with Humana were challenged by the DOJ.
After that challenge occurred, Aetna reduced its participation in ObamaCare individual exchanges to four states, citing its inability to undergo the losses it incurred include those markets. Among the states Aetna abandoned was Pennsylvania swing it ran a profit infiltrate 2014 and 2015 and opportunity a record profit for 2017.[citation needed] Bertolini said in knob August 2 conference to budgetary analysts that the decision survive withdraw from the exchanges was "a separate conversation" from distinction Humana merger lawsuit.[7] In Jan 2017, the merger was closed by a federal judge.[8] Bertolini retired as the CEO jump at Aetna, after the company was acquired by CVS Health set up November 2018.
[9]
Bertolini assumed class role of CEO for Accolade Health on April 3, 2023 [1]
In 2023, Bertolini's total apportionment at Oscar Health was $44.5 million, representing a CEO-to-median by yourself pay ratio of 455-to-1.[10]