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← NEW HAMPSHIRE INDIVIDUAL HEALTH PLAN BENEFIT ASSOCIATION

Form 990 for tax year 2023

Filed by NEW HAMPSHIRE INDIVIDUAL HEALTH PLAN BENEFIT ASSOCIATION.

Totals

Total revenue
$63,129,062
Total expenses
$63,140,745
Contributions and grants received
$26,565,613
Grants paid
$39,790,021
Program service revenue
$35,803,750
Investment income
$759,699
Other revenue
$0
Total assets, end of year
$22,694,901
Total liabilities, end of year
$22,694,901
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$62,835,054
Management and general expenses
$305,691
Fundraising expenses
$0
Program service expenses (Part III)
$62,835,054

Program services were 99.5% 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.

  • 1e · Government grants (contributions)

    $26,565,613

  • 2a · Program service revenue: Member Assessments

    total $35,803,146 · related or exempt $35,803,146

  • 2b · Program service revenue: Miscellaneous Income

    total $604 · related or exempt $604

  • 3 · Investment income

    total $635,001 · excluded $635,001

  • 7a · Gross sales of assets other than inventory

    securities $5,019,159

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

    securities $4,894,461

  • 7c · Gain or loss

    securities $124,698

  • 7d · Net gain or loss

    total $124,698 · excluded $124,698

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $39,790,021 · program services $39,790,021

  • 11a · Fees: management

    total $421,553 · program services $227,276 · management and general $194,277

  • 11b · Fees: legal

    total $31,725 · management and general $31,725

  • 11c · Fees: accounting

    total $58,016 · management and general $58,016

  • 11f · Fees: investment management

    total $10,954 · management and general $10,954

  • 11g · Fees: other

    total $57,979 · program services $57,979

  • 13 · Office expenses

    total $854 · management and general $854

  • 14 · Information technology

    total $8,857 · program services $8,857

  • 23 · Insurance

    total $9,865 · management and general $9,865

  • 24a · Other expenses: Remittance to NH Health

    total $22,750,921 · program services $22,750,921

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $751,224 · end of year $160,071

  • 2 · Savings and temporary cash investments

    beginning of year $8,191,253 · end of year $10,588,634

  • 4 · Accounts receivable

    beginning of year $8,135,928 · end of year $8,641,600

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,110,123 · end of year $156,977

  • 11 · Investments: publicly traded securities

    beginning of year $6,291,151 · end of year $3,147,619

  • 17 · Accounts payable and accrued expenses

    beginning of year $47,069 · end of year $70,508

  • 19 · Deferred revenue

    beginning of year $24,242,373 · end of year $22,434,156

  • 25 · Other liabilities

    beginning of year $190,237 · end of year $190,237

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

See Schedule O The Association was created pursuant to the order of the New Hampshire insurance commissioner with the purpose of supporting the State's individual health plan programs. The purpose of the Association is to protect the residents of New Hampshire who participate in the individual health insurance market by providing a mechanism to equitably distribute the excess risk associated with this market. The Association's membership consists, by statute, of all insurers licensed to transact health insurance in the State of New Hampshire that offer policies for major medical coverage of an expense-incurred basis and all licensed hospitals, medical service corporations, or other organizers, if any, in the state that offer subscriber contacts for major medical coverage.

  • The Association collects assessments from its members on behalf of the State of New Hampshire to support its current Medicaid Expansion Program, known as the Granite Advantage Health Care Program. The funds are then used by the State as required by statute to support the State's expansion of Medicaid services to a broader segment of the underserved population in New Hampshire.

    Expenses $22,835,279 · Revenue $22,759,728

  • The Association collects assessments from its members on behalf the State of New Hampshire to support its New Hampshire Reinsurance Program, which was established as a mechanism to equitably distribute the excess risk associated with the individual health insurance market and to support the affordability and accessibility of health insurance in New Hampshire's individual health insurance market. The reinsurance program reimburses health plan issuers who offer comprehensive, major medical plans in New Hampshire's individual market that are part of a single-risk pool based on a percentage of annual claims that issuers incur for coverage under such plans.

    Expenses $39,999,775 · Grants $39,790,021 · Revenue $13,044,022

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Christopher Kennedy

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Kathryn Skouteris

    Vice-Chair

    Total calculated
    $0
    Hours/week
    1

  • Martha McLeod

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Bruce King

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Gregg Daly

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David Ellis

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Michelle Heaton

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Bradley Long

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Steve Phillips

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David Trudo

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mark McCue

    Assistant Secretary

    Total calculated
    $0
    Hours/week
    1

  • J Michael Degnan

    Executive Director

    Total calculated
    $0
    Hours/week
    15

  • Andrew Luce

    Chief Financial Officer

    Total calculated
    $0
    Hours/week
    10

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
14 June 2024
IRS schema version
2023v5.0
Source object
202432709349301208

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