Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: PREMIUMS EARNED

  total $5,432,916,359 · related or exempt $5,432,916,359

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $77,738,640 · unrelated business $47,597 · excluded $77,691,043

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $325,330,813 · other assets $96,188,418

• 7b · Less cost or other basis and sales expenses

  securities $320,484,779 · other assets $84,078,754

• 7c · Gain or loss

  securities $4,846,034 · other assets $12,109,664

• 7d · Net gain or loss

  total $16,955,699 · excluded $16,955,699

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $4,744,634,046 · program services $4,744,634,046

• 5 · Compensation of officers, directors and key employees

  total $198,445 · management and general $198,445

• 7 · Other salaries and wages

  total $143,210,955 · management and general $143,210,955

• 8 · Pension plan contributions

  total $23,002,134 · management and general $23,002,134

• 9 · Other employee benefits

  total $23,829,608 · management and general $23,829,608

• 10 · Payroll taxes

  total $9,320,855 · management and general $9,320,855

• 11a · Fees: management

  total $851,099 · management and general $851,099

• 11b · Fees: legal

  total $1,334,356 · management and general $1,334,356

• 11c · Fees: accounting

  total $23,617,199 · management and general $23,617,199

• 11g · Fees: other

  total $120,237,322 · program services $0 · management and general $120,237,322 · fundraising $0

• 12 · Advertising and promotion

  total $4,320,475 · management and general $4,320,475

• 13 · Office expenses

  total $5,544,741 · management and general $5,544,741

• 14 · Information technology

  total $41,304,618 · management and general $41,304,618

• 16 · Occupancy

  total $10,509,375 · management and general $10,509,375

• 17 · Travel

  total $822,600 · management and general $822,600

• 22 · Depreciation, depletion and amortization

  total $49,538,421 · management and general $49,538,421

• 24a · Other expenses: OTHER - BROKER FEES

  total $103,782,838 · management and general $103,782,838

• 24b · Other expenses: OTHER - DUES AND ASSESSMENTS

  total $29,041,815 · management and general $29,041,815

• 24c · Other expenses: OTHER - OUT OF AREA PROGRAM

  total -$9,551,050 · management and general -$9,551,050

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $56,129,640 · end of year $14,568,105

• 2 · Savings and temporary cash investments

  beginning of year $144,372,548 · end of year $164,402,574

• 4 · Accounts receivable

  beginning of year $167,636,083 · end of year $148,021,449

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 10a · Land, buildings and equipment: cost or other basis

  $139,387,638

• 10b · Land, buildings and equipment: accumulated depreciation

  $54,700,593

• 10c · Land, buildings and equipment, net

  beginning of year $87,042,944 · end of year $84,687,045

• 11 · Investments: publicly traded securities

  beginning of year $1,628,507,225 · end of year $1,731,589,220

• 12 · Investments: other securities

  beginning of year $962,957,591 · end of year $902,606,726

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $54,080,685 · end of year $37,786,376

• 17 · Accounts payable and accrued expenses

  beginning of year $39,282,693 · end of year $62,750,558

• 22 · Loans and payables to officers and key people

  end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $180,158,814 · end of year $167,708,767

• 25 · Other liabilities

  beginning of year $778,173,728 · end of year $712,685,773

• 31 · Retained earnings, endowment or other funds

  beginning of year $2,103,111,481 · end of year $2,140,516,397

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

THE ORGANIZATION'S SENIOR MANAGEMENT IS EXPECTED TO MAINTAIN A DEMANDING TRAVEL SCHEDULE. THE ORGANIZATION'S BOARD OF DIRECTORS HAS APPROVED AN ACCOUNTABLE PLAN FOR PAYMENT AND REIMBURSEMENT FOR TRAVEL POLICIES DESIGNED TO ASSURE THAT THE ORGANIZATION IS ABLE TO MEET SENIOR MANAGEMENT'S TRAVEL COMMITMENTS. THE ORGANIZATION PERMITS APPROPRIATE TRAVEL AND AMENITIES FOR SENIOR LEVEL MANAGEMENT. BUSINESS TRAVEL IS NOT TAXABLE TO THOSE EMPLOYEES OF THE ORGANIZATION AS COMPENSATION.

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation

THE ORGANIZATION'S SENIOR LEVEL MANAGEMENT SERVICES ARE PROVIDED BY BLUE CROSS BLUE SHIELD OF MASSACHUSETTS, INC., A RELATED ORGANIZATION, UNDER AN ARM'S LENGTH SERVICES AGREEMENT. THE ORGANIZATION'S CEO IS COMPENSATED SOLELY BY BLUE CROSS BLUE SHIELD OF MASSACHUSETTS INC. THE ORGANIZATION'S CEO COMPENSATION IS DETERMINED UNDER THE DIRECTION OF THE HUMAN RESOURCES COMMITTEE OF THE BLUE CROSS BLUE SHIELD OF MASSACHUSETTS, INC. BOARD OF DIRECTORS USING MARKET ASSESSMENT INFORMATION PROVIDED BY INDEPENDENT COMPENSATION CONSULTANTS. FINAL APPROVAL OF THE ORGANIZATION'S CEO COMPENSATION IS PERFORMED BY THE FULL BOARD OF DIRECTORS OF BLUE CROSS BLUE SHIELD OF MASSACHUSETTS, INC.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

THE ORGANIZATION'S OFFICERS PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN SPONSORED BY THEIR EMPLOYER, BLUE CROSS BLUE SHIELD OF MASSACHUSETTS, INC. A PAYMENTS WAS MADE TO STEPHANIE LOVELL FOR $547,541, WHICH IS LISTED ON FORM 990 PART VII. THE ACTUARIALLY DETERMINED PRESENT VALUE OF THE BENEFITS ACCRUED UNDER THIS PLAN IS INCLUDED IN EACH APPLICABLE INDIVIDUAL'S DEFERRED COMPENSATION AMOUNT ON THIS FORM.

Schedule J, Part I, Line 6a Compensation contingent on net earnings of the organization

THE EMPLOYEES OF THE ORGANIZATION PARTICIPATED IN AN INCENTIVE PAY PLAN DESIGNED TO RECOGNIZE AND REWARD SIGNIFICANT ACCOMPLISHMENTS THAT HAVE CONTRIBUTED TO THE OVERALL SUCCESS OF THE ORGANIZATION IN THE FULFILLMENT OF ITS ORGANIZATIONAL MISSION. THE ORGANIZATION'S GOALS ARE ESTABLISHED AT THE BEGINNING OF THE CALENDAR YEAR BY THE INDEPENDENT BOARD OF DIRECTORS OF BLUE CROSS BLUE SHIELD OF MASSACHUSETTS, INC. ("BCBSMA"), A RELATED ORGANIZATION. THESE GOALS COVER IMPORTANT MEASURES OF THE ORGANIZATION'S SUCCESS SUCH AS NET FINANCIAL RESULTS, MEMBER SATISFACTION, AND NET MEMBERSHIP GROWTH. AT THE END OF THE YEAR, RESULTS AGAINST THOSE GOALS ARE REVIEWED BY THE BCBSMA BOARD OF DIRECTORS UNDER WHOSE SOLE DISCRETION THE DETERMINATION OF ANY PAYOUT LEVEL IS MADE. THERE IS NO GUARANTEE THAT AMOUNTS WILL BE PAID FOR ANY CALENDAR YEAR.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• BLUE CROSS AND BLUE SHIELD OF MA INC

  C Corporation · SEE PART VII · MA

  Directly controlled by NA