50 Facts About Mark Bertolini

Early Life and Education

Mark Bertolini's journey began in Detroit, Michigan, where he was born in 1956. His early years and education played a crucial role in shaping his future.

1. Mark Bertolini was born in Detroit, Michigan, in 1956.
2. He completed his undergraduate studies at Wayne State University in Detroit.
3. Bertolini earned an MBA from Cornell University's Samuel Curtis Johnson Graduate School of Management.

Career Beginnings

Bertolini's career in the healthcare industry started with various executive roles, setting the stage for his future leadership.

4. Bertolini's career began with executive positions at Cigna, NYLCare Health Plans, and SelectCare.
5. He joined Aetna in 2003, marking a significant turning point in his career.

Aetna Leadership

Bertolini's leadership at Aetna transformed the company and left a lasting impact on the healthcare industry.

6. He became the CEO of Aetna on November 29, 2010.
7. Bertolini was appointed chairman of Aetna on April 8, 2011.
8. During his tenure, Aetna had more than $35.5 billion in revenue in 2012.

Compensation and Bonuses

Despite financial challenges, Bertolini's compensation reflected his value to the company.

9. In 2011, Bertolini earned $10.6 million.
10. His compensation in 2012 was $13.2 million, with a reduction in bonuses from $2 million to $892,000.

Leadership Style

Bertolini is known for his accessible and forward-thinking leadership approach.

11. He is recognized as an accessible, forward-thinking, and solutions-oriented leader.
12. Bertolini transformed Aetna into a consumer-oriented healthcare company focused on holistic integrated care.

Financial Expertise

Bertolini's financial acumen has been a cornerstone of his career.

13. He developed deep financial and risk management expertise at Aetna.
14. Bertolini served as Co-Chief Executive Officer of Bridgewater Associates from January 2022 to March 2023.

Regulatory and Public Policy Experience

Bertolini's regulatory experience has been crucial in navigating the healthcare landscape.

15. He is a national healthcare thought leader with extensive regulatory and public policy experience.
16. Bertolini successfully navigated changes in the health insurance marketplace due to the Affordable Care Act.

Strategic Planning

Under Bertolini's leadership, Aetna underwent significant strategic transformations.

17. Aetna experienced domestic and international growth through strategic acquisitions and dispositions.
18. The $78 billion acquisition of Aetna by CVS in 2018 was a major milestone.

Oscar Health Appointment

In April 2023, Bertolini took on a new challenge by joining Oscar Health.

19. Bertolini became the CEO of Oscar Health, a tech-driven health insurance company, in April 2023.
20. His appointment marked a significant shift from leading a traditional health insurer to an insurtech company.

Oscar Health’s Mission

Oscar Health aims to revolutionize healthcare through technology, aligning with Bertolini's vision.

21. Oscar Health leverages technology to provide personalized and efficient care.
22. Bertolini's vision aligns with Oscar's mission to deliver enhanced value for members and shareholders.

CEO-to-Median Worker Pay Ratio

Bertolini's compensation at Oscar Health highlights the disparity in pay within the industry.

23. In 2023, Bertolini's total compensation at Oscar Health was $44.5 million.
24. This represents a CEO-to-median worker pay ratio of 455-to-1.

Board Memberships

Bertolini's influence extends beyond his executive roles through his board memberships.

25. He has been an independent director on the board of CVS Health Corporation since 2018.
26. Bertolini joined the board of Oscar Health in April 2023.
27. He chairs the finance committee and is a member of the human resources committee at Oscar Health.

Philanthropic Work

Bertolini's philanthropic efforts reflect his commitment to giving back to the community.

28. He served on the Board of Directors for FIDELCO, an organization that provides guide dogs for the visually impaired.
29. Bertolini also served on the Board of Directors for The Hole in the Wall Gang Camp, which serves children with serious illnesses.

Ski Accident and Alternative Healing

A life-changing ski accident led Bertolini to explore alternative healing methods.

30. In 2004, Bertolini was involved in a severe ski accident that left him disabled for a year.
31. This experience prompted him to investigate alternative healing methods such as acupuncture and yoga.

ACA Participation

Bertolini saw long-term potential in Aetna's participation in ACA individual exchanges.

32. He described Aetna's participation in ACA individual exchanges as "a good investment" despite initial losses.
33. Bertolini emphasized the need to navigate the challenges of the Affordable Care Act.

Humana Merger Challenge

The Humana merger challenge had a significant impact on Aetna's strategy.

34. In July 2016, Bertolini wrote to the DOJ about reducing Aetna's participation in ObamaCare individual exchanges if the Humana merger were challenged.
35. After the merger was blocked by a federal judge in January 2017, Aetna reduced its participation to four states.

Aetna’s Exit from Exchanges

Aetna's decision to withdraw from exchanges was a strategic move to mitigate losses.

36. Bertolini explained that Aetna's decision to withdraw from the exchanges was separate from the Humana merger lawsuit.
37. The company cited its inability to sustain losses in those markets, despite running a profit in Pennsylvania in 2014 and 2015.

Leadership Transition at Oscar Health

Oscar Health's leadership transition reflects its focus on technology.

38. Mario Schlosser, the co-founder and current CEO of Oscar Health, will transition to serve as President of Technology.
39. Schlosser will continue as a member of Oscar's board, and the board will expand to include Bertolini.

Bertolini’s Vision for Oscar Health

Bertolini is excited about the future of Oscar Health and its potential to lead the industry.

40. He emphasized his vision for Oscar Health to cement its future as a leader in the industry.
41. Bertolini highlighted the importance of leveraging technology to deliver enhanced value for members and shareholders.

Challenges in the Insurtech Market

Oscar Health faces significant challenges, but Bertolini remains optimistic.

42. Oscar Health, like many insurtech companies, has faced challenges in turning a profit.
43. Bertolini is optimistic about the company's future, citing recent moves that have put it on the path to profitability.

Industry Disruption

Bertolini is known for his disruptive approach to the insurance industry.

44. He has a reputation as a disruptor in the insurance space.
45. Bertolini's experience at Aetna and his current role at Oscar Health demonstrate his commitment to transforming the healthcare industry through innovative approaches and technology.

Community Impact

Bertolini's leadership has had a profound impact on the communities served by Aetna and Oscar Health.

46. His focus on delivering holistic integrated care has improved the lives of millions of people.
47. Bertolini's efforts have made healthcare more accessible and personalized.

Regulatory Experience

Bertolini's extensive regulatory experience has been crucial in navigating healthcare policy.

48. His ability to successfully lead Aetna through various regulatory challenges has been a hallmark of his career.
49. Bertolini's regulatory expertise has been instrumental in managing the complex landscape of healthcare policy.

Strategic Acquisitions

Under Bertolini's leadership, Aetna underwent significant strategic acquisitions and dispositions.

50. The company's growth strategy included expanding into new markets and improving operational efficiency.

Mark Bertolini's Impact on Healthcare

Mark Bertolini has left a lasting mark on the healthcare industry. From his early days at Cigna to leading Aetna through transformative changes, his career is a testament to innovation and resilience. His leadership at Aetna turned the company into a consumer-focused healthcare provider, culminating in its $78 billion acquisition by CVS. Now, as CEO of Oscar Health, Bertolini aims to revolutionize healthcare with technology-driven solutions. His personal experiences, like his severe ski accident, have shaped his approach to holistic care. Despite challenges, Bertolini remains optimistic about the future, focusing on delivering value and personalized care. His philanthropic efforts and board memberships further highlight his commitment to improving lives. Bertolini's journey shows that with vision and determination, significant change in healthcare is possible.