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Nonprofiteer
← HEALTH NEW ENGLAND & SUBSIDIARIES

Form 990 for tax year 2023

Filed by HEALTH NEW ENGLAND & SUBSIDIARIES.

Totals

Total revenue
$990,780,932
Total expenses
$1,016,731,021
Contributions and grants received
$0
Grants paid
$421,150
Program service revenue
$980,354,680
Investment income
$8,194,460
Other revenue
$2,231,792
Total assets, end of year
$295,692,088
Total liabilities, end of year
$231,030,207
Net assets or fund balances, end of year
$64,661,881
Program services expenses (Part IX)
$917,524,083
Management and general expenses
$99,206,938
Fundraising expenses
$0
Program service expenses (Part III)
$917,524,083

Program services were 90.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • MARK A KEROACK MD

    CHAIR/DIRECTOR, PRES. & CEO BH

    Total calculated
    $2,761,223
    From this org
    $0
    From related orgs
    $2,718,608
    Other
    $42,615
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,487,186 related
    Bonus
    $0 + $683,230 related
    Other
    $0 + $548,192 related
    Deferred
    $0 + $23,100 related
    Nontaxable benefits
    $0 + $19,515 related
    Filer's total
    $0 + $2,761,223 related

  • RICHARD SWIFT

    PRESIDENT & CEO

    Total calculated
    $1,574,161
    From this org
    $1,203,119
    From related orgs
    $0
    Other
    $371,042
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $805,783
    Bonus
    $387,784
    Other
    $9,552
    Deferred
    $352,094
    Nontaxable benefits
    $18,948
    Filer's total
    $1,574,161

  • RAYMOND MCCARTHY

    TREASURER & DIRECTOR, SVP CFO BH

    Total calculated
    $1,205,675
    From this org
    $0
    From related orgs
    $1,181,243
    Other
    $24,432
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $709,330 related
    Bonus
    $0 + $234,559 related
    Other
    $0 + $237,354 related
    Deferred
    $0 + $22,563 related
    Nontaxable benefits
    $0 + $1,869 related
    Filer's total
    $0 + $1,205,675 related

  • HARRIET DEVERRY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATHLEEN OESTREICH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PIA FLANAGAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD BEAUCHAMP STEELE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TANIA BARBER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WENDOLYN BELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM WEBBER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JODY GROSS

    VP OPS & GOVT OPS (TERM 4/8/2023)

    Total calculated
    $822,762
    From this org
    $800,739
    From related orgs
    $0
    Other
    $22,023
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,334
    Bonus
    $148,708
    Other
    $492,697
    Deferred
    $13,753
    Nontaxable benefits
    $8,270
    Filer's total
    $822,762

  • LISA M COHEN

    CHIEF FINANCIAL OFFICER

    Total calculated
    $781,518
    From this org
    $578,571
    From related orgs
    $0
    Other
    $202,947
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $403,434
    Bonus
    $165,585
    Other
    $9,552
    Deferred
    $168,596
    Nontaxable benefits
    $34,351
    Filer's total
    $781,518

  • KATE MCINTOSH

    VP & CHIEF MEDICAL OFFICER

    Total calculated
    $745,327
    From this org
    $579,230
    From related orgs
    $0
    Other
    $166,097
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $389,711
    Bonus
    $179,967
    Other
    $9,552
    Deferred
    $149,500
    Nontaxable benefits
    $16,597
    Filer's total
    $745,327

  • CASEY J HOSSA

    CHIEF INFORMATION OFFICER

    Total calculated
    $629,025
    From this org
    $479,542
    From related orgs
    $0
    Other
    $149,483
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $337,750
    Bonus
    $141,792
    Other
    $0
    Deferred
    $132,699
    Nontaxable benefits
    $16,784
    Filer's total
    $629,025

  • SUSAN O'CONNOR

    GENERAL COUNSEL

    Total calculated
    $566,956
    From this org
    $433,578
    From related orgs
    $0
    Other
    $133,378
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $305,296
    Bonus
    $117,360
    Other
    $10,922
    Deferred
    $108,537
    Nontaxable benefits
    $24,841
    Filer's total
    $566,956

  • JASON RIO

    SR. DIR. REVENUE ASSUR. & RISK MGMT

    Total calculated
    $367,176
    From this org
    $287,280
    From related orgs
    $0
    Other
    $79,896
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,366
    Bonus
    $42,753
    Other
    $1,161
    Deferred
    $55,306
    Nontaxable benefits
    $24,590
    Filer's total
    $367,176

  • JUDITH DANEK

    DIR OFFICE OF PRES & GOVT RELATIONS

    Total calculated
    $216,882
    From this org
    $169,728
    From related orgs
    $0
    Other
    $47,154
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $149,639
    Bonus
    $19,443
    Other
    $646
    Deferred
    $24,600
    Nontaxable benefits
    $22,554
    Filer's total
    $216,882

  • LAURIE DORAN

    VP NETWORK MGMT & CORP STRATEGY

    Total calculated
    $441,575
    From this org
    $441,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $441,575
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $441,575

  • TIMOTHY CHRYSTAL

    DIR. OF SALES & ACCT MGMT.

    Total calculated
    $395,637
    From this org
    $284,293
    From related orgs
    $0
    Other
    $111,344
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,849
    Bonus
    $115,597
    Other
    $847
    Deferred
    $103,236
    Nontaxable benefits
    $8,108
    Filer's total
    $395,637

  • MICHAEL GAUVIN

    DIR. PROGRAM DVP. & MARKET INTEL.

    Total calculated
    $382,113
    From this org
    $288,548
    From related orgs
    $0
    Other
    $93,565
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,035
    Bonus
    $111,513
    Other
    $0
    Deferred
    $93,304
    Nontaxable benefits
    $261
    Filer's total
    $382,113

  • TYLER HUTCHISON

    CHIEF ACTUARY

    Total calculated
    $379,625
    From this org
    $311,241
    From related orgs
    $0
    Other
    $68,384
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $270,098
    Bonus
    $41,143
    Other
    $0
    Deferred
    $59,027
    Nontaxable benefits
    $9,357
    Filer's total
    $379,625

  • SEAN NOONE

    SR. DIRECTOR CHIEF OF OPERATIONS

    Total calculated
    $368,228
    From this org
    $284,772
    From related orgs
    $0
    Other
    $83,456
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,109
    Bonus
    $37,663
    Other
    $0
    Deferred
    $58,897
    Nontaxable benefits
    $24,559
    Filer's total
    $368,228

  • MICHAEL FASO

    FORMER INTERIM CFO

    Total calculated
    $248,050
    From this org
    $248,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $248,050
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $248,050

  • KEITH LEDOUX

    VP COMM. LOB & SALES (TERM 12/31/22)

    Total calculated
    $214,871
    From this org
    $193,347
    From related orgs
    $0
    Other
    $21,524
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $82,107
    Bonus
    $109,648
    Other
    $1,592
    Deferred
    $16,500
    Nontaxable benefits
    $5,024
    Filer's total
    $214,871

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments

Answered no

  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINES 4A-B
MARK A. KEROACK, MD - SUPPLEMENTAL RETIREMENT OF $431,879 IS INCLUDED IN COLUMN B. THIS AMOUNT CONSISTS OF $427,604 EARNED AND PAID IN 2023 AND $4,275 THAT WAS PREVIOUSLY REPORTED AS DEFERRED COMPENSATION IN PRIOR YEARS FORMS 990 AND THAT IS CURRENTLY REPORTED AS TAXABLE INCOME. THE AMOUNT IS LISTED IN COLUMN F IN ACCORDANCE WITH REPORTING REQUIREMENTS. SUPPLEMENTAL RETIREMENT OF $4,950 IS INCLUDED IN COLUMN C. THIS AMOUNT WAS EARNED IN 2023. RAYMOND MCCARTHY - SUPPLEMENTAL RETIREMENT OF $189,906 IS INCLUDED IN COLUMN B. THIS AMOUNT CONSISTS OF $185,631 EARNED AND PAID IN 2023 AND $4,275 THAT WAS PREVIOUSLY REPORTED AS DEFERRED COMPENSATION IN PRIOR YEARS FORMS 990 AND THAT IS CURRENTLY REPORTED AS TAXABLE INCOME. THE AMOUNT IS LISTED IN COLUMN F IN ACCORDANCE WITH REPORTING REQUIREMENTS. SUPPLEMENTAL RETIREMENT OF $4,950 IS INCLUDED IN COLUMN C. THIS AMOUNT WAS EARNED IN 2023. DURING 2023 JODY GROSS RECEIVED SEVERANCE FROM HEALTH NEW ENGLAND, INC IN THE AMOUNT OF $488,136.
PART I, LINE 6
CERTAIN EMPLOYEES OF HEALTH NEW ENGLAND, INC ARE ELIGIBLE FOR BONUSES IN PART BASED ON NET EARNINGS, EMPLOYEES RECEIVE A PERCENTAGE OF THE EXCESS REVENUES WHEN TARGET UNDERWRITING MARGINS ARE EXCEEDED. CERTAIN EMPLOYEES OF HEALTH NEW ENGLAND, INC ARE ALSO ELIGIBLE FOR A BONUS BASED ON THE PERFORMANCE OF BAYSTATE HEALTH, INC.
PART I, LINE 7
CERTAIN EMPLOYEES OF HEALTH NEW ENGLAND, INC ARE ELIGIBLE FOR BONUSES IN PART BASED ON NUMBERS OF MEMBERS BY LINES OF BUSINESSES, QUALITY MEASURES, ACHIEVEMENT OF MEDICARE STAR RATINGS, NCQA EVALUATION, MEDICAID QUALITY AND PERFORMANCE AND QUALITY STANDARDS AROUND POPULATION HEALTH ALONG WITH OTHER OPERATIONAL METRICS OF PERFORMANCE.
SCHEDULE J, PART I, LINE 3
HEALTH NEW ENGLAND, INC USES AN INDEPENDENT COMPENSATION COMMITTEE, AN INDEPENDENT COMPENSATION CONSULTANT, AND APPROPRIATE COMPARABILITY DATA AND APPROVAL BY THE COMPENSATION COMMITTEE TO ESTABLISH THE COMPENSATION OF ITS KEY OFFICERS, DIRECTORS, AND EMPLOYEES.

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

The 10 largest by cash amount. The API serves every itemized grant.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

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

  • INGRAHAM CORPORATION

    C · HEALTH CARE AND OTHER BUSINESS ACTIVITY · MA

  • HNE INSURANCE SERVICES INC

    C · COLLECTION OF SERVICES FOR ANCILLARY SERVICES · MA · 100% owned · share of income $17,848 · share of assets $157,699 · controlled entity

    Directly controlled by HNE HOLDING CORPORATION

  • HNE ADVISORY SERVICES

    C · ADMINISTRATIVE SERVICES · MA · 100% owned · share of income -$438,208 · share of assets $16,199,581 · controlled entity

    Directly controlled by HNE HOLDING CORPORATION

  • HNE HOLDING CORPORATION

    C · HOLDING COMPANY · MA · 100% owned · share of income -$2,083,180 · share of assets $3,802,115 · controlled entity

    Directly controlled by HEALTH NEW ENGLAND INC

  • BAYSTATE HEALTH INSURANCE COMPANY LTD

    C · OFFSHORE CAPTIVE INSURANCE · CJ

  • HNE INSURANCE COMPANY INC

    C · PROVIDE MEDICARE MED SUPP SERVICES · MA · 100% owned · share of income -$1,688,740 · share of assets $5,881,335 · controlled entity

    Directly controlled by HNE HOLDING CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202423109349300802

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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