TRENTON -- The CEO of Horizon Blue Cross Blue Shield of New Jersey Thursday defended himself against Gov. Chris Christie's recent accusations that he earns too much money, as well as the governor's call for the insurance company to donate $300 million of its reserves to address the state's opioid addiction problem.
In an interview with NJBIZ, Robert Marino said he didn't know why the governor has personally targeted him, but believes his 40-year reputation in the business would help him survive Christie's attacks.
"If I could leave you with anything, it's that I'm not a greedy health care CEO," Marino told NJBIZ. "And to be unfairly attacked, I find that difficult. I spent literally my entire career here, I'm very passionate about what this company does, I'm a Jersey guy, I was born right here just up the street in Newark. I take great pride in what this organization does."
Marino earned $4.5 million in compensation last year including a $3 million bonus, according to state Banking and Insurance Department records obtained under the Open Public Records Act. Horizon's next nine highest paid executives earned from $1.4 million to $2.5 million each, the records said.
The largest insurance carrier in the state with 3.8 million members, Horizon is a not-for-profit health services corporation that pays some taxes but is exempt from others. Horizon owes some of its market share to Christie's decision to expand the Medicaid program under the Affordable Care Act -- a point Christie raised during a public appearance last month.
"They are taking advantage of the Medicaid system," Christie said. "And I didn't expand Medicaid to let Horizon executives take advantage of the poor and the taxpayers. I expanded Medicaid to help the least fortunate New Jerseyans get the healthcare they need."
Christie called on legislators to pass a bill his office has drafted that would require Horizon to create a revolving public health fund. The bill would also expand the state Department of Banking and Insurance's authority to ensure Horizon is meeting its obligation to care for the poor.
Senate Health, Human Services and Senior Services Committee Chairman Joseph Vitale said Thursday he has not yet decided whether he will advance Christie's bill.
"I am taking a closer review of Horizon operations," Vitale said. "I just want to make sure that if I propose anything I am informed by the evidence, not the hysteria."
Christie's attack on Horizon has yielded few backers, with both liberal and conservative groups questioning the interference with the company's bottom line.
The governor has been at war with Horizon since February, when he demanded it hand over some $300 million from its capital reserves to help expand drug treatment for New Jersey's poorest residents. Horizon refused, but offered the governor some $135 million, which Christie turned down.
"Now, I have great respect for his passion about opioids, I really do think that man has some genuine concerns and passion around this," Marino said referring to Christie's nearly singular focus this year on curbing heroin and opioid addiction.
"I don't understand where this is coming from," Marino said of Christie's broadsides against Horizon. "...We just got through a five-year market conduct exam by the Department of Banking and Insurance where they come in and examine the books of the company -- there was no issue on the reserves, there was no issue on executive compensation."
"Obviously, it's not pleasant to be attacked by a sitting governor, but I understand that's the political reality of it," Marino said.
Horizon spokesman Kevin McArdle added that a recent report by Standard & Poor's "recognized the quality of the management team, and publications including the Star Ledger and NJBIZ have reported Horizon's compensation as consistent with industry standards."
"We are pleased so many lawmakers understand that injecting statehouse political agendas and adding more uncertainty to the health insurance marketplace will be bad for consumers," McArdle said.
NJ Advance Media Staff Writer Kathleen O'Brien contributed to this report. Susan K. Livio may be reached at slivio@njadvancemedia.com. Follow her on Twitter @SusanKLivio. Find NJ.com Politics on Facebook.