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Nonprofiteer
← COX HEALTH SYSTEMS INSURANCE COMPANY

Form 990 for tax year 2023

Filed by COX HEALTH SYSTEMS INSURANCE COMPANY.

Totals

Total revenue
$150,754,198
Total expenses
$147,395,993
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$149,529,223
Investment income
$1,224,975
Other revenue
$0
Total assets, end of year
$58,009,168
Total liabilities, end of year
$28,941,734
Net assets or fund balances, end of year
$29,067,434
Program services expenses (Part IX)
$138,937,767
Management and general expenses
$8,458,226
Fundraising expenses
$0
Program service expenses (Part III)
$138,937,767

Program services were 94.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: PREMIUM INCOME

    total $149,529,223 · related or exempt $149,529,223

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $1,592,611 · excluded $1,592,611

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $15,114,181

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

    securities $15,481,817

  • 7c · Gain or loss

    securities -$367,636 · other assets $0

  • 7d · Net gain or loss

    total -$367,636 · excluded -$367,636

  • 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 $134,292,977 · program services $134,292,977

  • 11a · Fees: management

    total $8,431,930 · management and general $8,431,930

  • 11g · Fees: other

    total $3,943,145 · program services $3,943,145 · management and general $0 · fundraising $0

  • 20 · Interest

    total $12,742 · management and general $12,742

  • 24a · Other expenses: PREMIUM TAX

    total $620,373 · program services $620,373

  • 24b · Other expenses: PCORI FEE

    total $81,272 · program services $81,272

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $13,554 · management and general $13,554

  • 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 $581 · end of year $27,058

  • 2 · Savings and temporary cash investments

    beginning of year $24,374,079 · end of year $25,477,644

  • 4 · Accounts receivable

    beginning of year $6,113,695 · end of year $6,062,665

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $25,287,828 · end of year $26,441,801

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,284,075 · end of year $668,657

  • 19 · Deferred revenue

    beginning of year $3,728,195 · end of year $3,453,564

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $24,728,454 · end of year $24,819,513

  • 29 · Capital stock, trust principal or current funds

    beginning of year $800,000 · end of year $800,000

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $39,189,682 · end of year $39,189,682

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$13,954,223 · end of year -$10,922,248

Mission and programs · 2023

Mission

TO SUPPORT HEALTH IMPROVEMENT IN THE COMMUNITIES WE SERVE BY OFFERING COMPETITIVE INSURANCE PRODUCTS BASED ON QUALITY OUTCOMES AND EVIDENCED BASED HEALTHCARE.

Activities or mission (Part I)

ENGAGED IN PROMOTING THE COMMON GOOD AND GENERAL WELFARE OF THE PEOPLE OF THE COMMUNITY BY PROVIDING LOW-COST, HIGH-QUALITY HEALTH PLANS TO AN UNDERSERVED POPULATION.

  • THE COMPANY (CHSIC) PROVIDES GROUP AND INDIVIDUAL HEALTH INSURANCE POLICIES. IT HAS BEEN ARRANGING HEALTH CARE SERVICES THROUGH THE OPERATION OF HEALTH PLANS SINCE ITS INCEPTION IN 1994. CHSIC SERVES APPROXIMATELY 28,000 PEOPLE ACROSS THE STATE OF MISSOURI AND MOST ARE IN ITS PRIMARY SERVICE AREA, WHICH CONSISTS OF THE 26 COUNTIES IN SOUTHWEST MISSOURI. CHSIC'S HEALTH PLANS ARE EPO AND PPO PLANS, AND THEY PROVIDE A COMMUNITY BENEFIT DUE TO THEIR LOW COST, THEIR AVAILABILITY TO ALL IN THE COMMUNITY AND THEIR ROLE IN COX HEALTH SYSTEM'S IMPROVING OF THE HEALTH OF THE COMMUNITY.

    Expenses $138,937,767 · Revenue $149,529,223

As filed on the 2023 return.

Listed in Part VII

  • Mark Costley

    Chairman/Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Max D Buetow

    Vice Chair/Director

    Total calculated
    $1,931,679
    From this org
    $0
    From related orgs
    $1,612,240
    Other
    $319,439
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,055,370 related
    Bonus
    $0 + $556,570 related
    Other
    $0 + $300 related
    Deferred
    $0 + $303,741 related
    Nontaxable benefits
    $0 + $15,699 related
    Filer's total
    $0 + $1,931,679 related

  • Bill W Jones

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Bryan A Finke

    Director Beg 9/23

    Total calculated
    $625,759
    From this org
    $0
    From related orgs
    $589,506
    Other
    $36,253
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $589,506 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $26,990 related
    Nontaxable benefits
    $0 + $9,263 related
    Filer's total
    $0 + $625,759 related

  • Janice K Harris

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jerry G Jared

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John B Singleton

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Norman J Mechlin

    Director End 9/23

    Total calculated
    $288,410
    From this org
    $0
    From related orgs
    $257,532
    Other
    $30,878
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,532 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $15,779 related
    Nontaxable benefits
    $0 + $15,100 related
    Filer's total
    $0 + $288,410 related

  • Rita M Needham

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Timothy L Jones

    Director

    Total calculated
    $878,274
    From this org
    $0
    From related orgs
    $740,715
    Other
    $137,559
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $517,049 related
    Bonus
    $0 + $174,477 related
    Other
    $0 + $49,188 related
    Deferred
    $0 + $121,860 related
    Nontaxable benefits
    $0 + $15,699 related
    Filer's total
    $0 + $878,273 related

  • Jennifer Henderson

    Chief Financial Officer Beg 8/23

    Total calculated
    $128,641
    From this org
    $0
    From related orgs
    $111,408
    Other
    $17,233
    Hours/week
    20 + 20 related

  • Jennifer Webb

    Secretary

    Total calculated
    $69,191
    From this org
    $0
    From related orgs
    $55,034
    Other
    $14,157
    Hours/week
    20 + 20 related

  • Lisa Odom

    Chief Financial Officer End 6/23

    Total calculated
    $168,041
    From this org
    $0
    From related orgs
    $148,349
    Other
    $19,692
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $112,407 related
    Bonus
    $0 + $35,605 related
    Other
    $0 + $337 related
    Deferred
    $0 + $7,841 related
    Nontaxable benefits
    $0 + $11,851 related
    Filer's total
    $0 + $168,041 related

  • Matt Aug

    Chief Executive Officer

    Total calculated
    $475,878
    From this org
    $0
    From related orgs
    $450,605
    Other
    $25,273
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,547 related
    Bonus
    $0 + $103,608 related
    Other
    $0 + $450 related
    Deferred
    $0 + $16,200 related
    Nontaxable benefits
    $0 + $9,073 related
    Filer's total
    $0 + $475,878 related

  • Susan Sanchez

    Chief Information Officer

    Total calculated
    $191,901
    From this org
    $0
    From related orgs
    $176,373
    Other
    $15,528
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,132 related
    Bonus
    $0 + $8,261 related
    Other
    $0 + $1,980 related
    Deferred
    $0 + $6,582 related
    Nontaxable benefits
    $0 + $8,946 related
    Filer's total
    $0 + $191,901 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
LESTER E. COX MEDICAL CENTERS, A RELATED PARTY OF THE ORGANIZATION, USES THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE COXHEALTH TOP MANAGEMENT OFFICIAL: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
MAX BEUTOW AND TIMOTHY JONES PARTICIPATE IN A 457(F) NONQUALIFIED RETIREMENT PLAN WITH LESTER E. COX MEDICAL CENTERS: - TIMOTHY JONES RECEIVED A 457(F) DISTRIBUTION OF $39,314, WHICH WAS REPORTED AS DEFERRED COMPENSATION ON A PRIOR FORM 990. - MAX BUETOW RECEIVED A 457(F) CONTRIBUTION OF $273,241 - TIMOTHY JONES RECEIVED A 457(F) CONTRIBUTION OF $82,860
Schedule J, Part II, Column (F) COMPENSATION REPORTED ON PRIOR FORM 990
AMOUNTS REPORTED IN SCHEDULE J, PART II, COLUMN F, WERE REPORTED ON A PRIOR FORM 990 OF LESTER E. COX MEDICAL CENTERS, A RELATED ORGANIZATION. COMPENSATION IS REPORTED ON THE FORM 990 IN THE YEAR THAT THE COMPENSATION IS EARNED BY OR AWARDED TO AN INDIVIDUAL, EVEN IF THE COMPENSATION IS NOT PAID TO THE INDIVIDUAL, IS NOT FULLY VESTED, OR IS SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE. IF COMPENSATION IS EARNED OR AWARDED IN ONE YEAR BUT PAID IN A LATER YEAR, THEN THE COMPENSATION IS REPORTED A SECOND TIME ON THE FORM 990 IN THE YEAR THE COMPENSATION IS VESTED OR PAID TO THE INDIVIDUAL. DURING CALENDAR YEAR 2023, THERE WAS ONE AMOUNT FOR $39,314 DISTRIBUTED TO TIMOTHY JONES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

  • MEDICAL DEVELOPMENTS

    C Corporation · PHARMACY · MO

    Directly controlled by LESTER E COX

  • INSURANCE COMPANY OF SPRINGFIELD INC

    C Corporation · CAPTIVE INSURANCE · CJ

    Directly controlled by LESTER E COX

  • COX TAXABLE CLOSE CORPORATION

    C Corporation · MEDICAL CLINIC · MO

    Directly controlled by COX MED GROUP

  • FERRELL-DUNCAN CLINIC INC

    C Corporation · PHYSICIANS · MO

    Directly controlled by CTCC

Provenance

Return type
form_990
Tax year
2023
Filed
1 November 2024
IRS schema version
2023v5.1
Source object
202403069349302430

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