Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MEDICAID PREMIUM

  total $1,371,599,052 · related or exempt $1,371,599,052

• 2b · Program service revenue: MEDICARE PREMIUM

  total $738,670,724 · related or exempt $738,670,724

• 2c · Program service revenue: COMMERCIAL PREMIUM

  total $637,323,025 · related or exempt $637,323,025

• 2d · Program service revenue: ESSENTIAL PLAN PREMIUM

  total $205,062,823 · related or exempt $205,062,823

• 2e · Program service revenue: CHILD HEALTH PLUS

  total $68,123,461 · related or exempt $68,123,461

• 2f · All other program service revenue

  total $6,248,500 · related or exempt $6,248,500

• 3 · Investment income

  total $18,763,548 · excluded $18,763,548

• 7a · Gross sales of assets other than inventory

  securities $159,313,637

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

  securities $165,249,705 · other assets $7,717

• 7c · Gain or loss

  securities -$5,936,068 · other assets -$7,717

• 7d · Net gain or loss

  total -$5,943,785 · excluded -$5,943,785

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $627,934 · program services $627,934

• 5 · Compensation of officers, directors and key employees

  total $643,650 · management and general $643,650

• 11a · Fees: management

  total $17,595,085 · management and general $17,595,085

• 11b · Fees: legal

  total $976,801 · management and general $976,801

• 11c · Fees: accounting

  total $678,936 · management and general $678,936

• 11d · Fees: lobbying

  total $198,215 · management and general $198,215

• 11f · Fees: investment management

  total $459,947 · management and general $459,947

• 11g · Fees: other

  total $19,841,302 · program services $9,067,302 · management and general $10,774,000

• 12 · Advertising and promotion

  total $11,674,419 · management and general $11,674,419

• 13 · Office expenses

  total $13,912,834 · management and general $13,912,834

• 14 · Information technology

  total $30,299,923 · management and general $30,299,923

• 16 · Occupancy

  total $6,963,800 · management and general $6,963,800

• 17 · Travel

  total $239,775 · management and general $239,775

• 19 · Conferences, conventions and meetings

  total $159,958 · management and general $159,958

• 20 · Interest

  total $56,765 · management and general $56,765

• 21 · Payments to affiliates

  total $137,545,078 · management and general $137,545,078

• 22 · Depreciation, depletion and amortization

  total $7,109,397 · management and general $7,109,397

• 23 · Insurance

  total $2,384,802 · management and general $2,384,802

• 24a · Other expenses: HOSPITAL,PHYSICIAN,OT

  total $2,348,138,173 · program services $2,348,138,173

• 24b · Other expenses: PHARMACY

  total $284,465,729 · program services $284,465,729

• 24c · Other expenses: CAPITATED MEDICAL EXP.

  total $136,180,321 · program services $136,180,321

• 24d · Other expenses: REGULATORY EXPENSE

  total $2,621,929 · program services $2,621,929

• 24e · All other expenses

  total $5,183,783 · management and general $5,183,783

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $87,775,064 · end of year $1,454,279

• 2 · Savings and temporary cash investments

  beginning of year $31,566,027 · end of year $141,951,004

• 4 · Accounts receivable

  beginning of year $19,840,104 · end of year $2,242,355

• 7 · Other notes and loans receivable

  beginning of year $81,339,763 · end of year $109,765,745

• 9 · Prepaid expenses and deferred charges

  beginning of year $12,069,418 · end of year $12,290,023

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

  $49,577,303

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

  $22,745,864

• 10c · Land, buildings and equipment, net

  beginning of year $26,172,497 · end of year $26,831,439

• 11 · Investments: publicly traded securities

  beginning of year $128,004,216 · end of year $146,144,863

• 14 · Intangible assets

  beginning of year $100,000

• 15 · Other assets

  beginning of year $430,242,867 · end of year $474,752,584

• 17 · Accounts payable and accrued expenses

  beginning of year $31,883,567 · end of year $47,940,623

• 19 · Deferred revenue

  beginning of year $9,415,801 · end of year $8,688,198

• 25 · Other liabilities

  beginning of year $343,401,133 · end of year $400,042,200

• 27 · Net assets without donor restrictions

  beginning of year $126,246,225 · end of year $161,569,133

• 28 · Net assets with donor restrictions

  beginning of year $306,163,230 · end of year $297,192,138

The filer's explanations (Part III)

PART I, LINE 1B

THE PRESIDENT & CEO IS THE ONLY INDIVIDUAL RECEIVING THE BENEFITS REFLECTED IN SCHEDULE J, PART I, LINE 1. THE PAYMENT OF THESE EXPENSES ARE MADE AS PART OF HIS TOTAL REWARDS PACKAGE AND ARE REVIEWED TO ENSURE THEY ALIGN WITHIN THE ORGANIZATION'S OVERALL COMPENSATION PHILOSOPHY. PART I, LINE 4B: DURING THE YEAR, SEVERAL OF THE PERSONS LISTED ON SCHEDULE J PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. EMPLOYER AND EMPLOYEE CONTRIBUTIONS DURING THE YEAR TO THIS PLAN HAVE BEEN REPORTED, AS REQUIRED, ON SCHEDULE J, PART II, COLUMNS (B)(III) AND (C). WHILE OTHER INDIVIDUALS REPORTED ON THE FORM 990, SCHEDULE J PARTICIPATED IN THE SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN, NO ONE RECEIVED A PAYOUT IN CALENDAR YEAR 2023.

PART I, LINE 6

RELATIVE TO BONUSES, MVP'S BOARD HAS A COMPENSATION COMMITTEE MADE UP OF FOUR BOARD MEMBERS WHO PROVIDE GOVERNANCE OVERSIGHT PROCEDURES TO ENSURE ADEQUATE BOARD OVERSIGHT OF ITS EXECUTIVE COMPENSATION PROGRAMS. THE COMPENSATION COMMITTEE MEETS AT LEAST TWO TIMES PER YEAR AND MAINTAINS FORMAL MINUTES EVIDENCING THIS OVERSIGHT. ADDITIONALLY, MVP ENGAGES AN INDEPENDENT CONSULTANT TO EVALUATE THE COMPETITIVENESS OF EXISTING REMUNERATION LEVELS FOR PURPOSES OF ATTRACTING AND RETAINING TALENTED STAFF AT ALL LEVELS. MVP PROVIDES BONUS PROGRAMS TO EMPLOYEES THAT TIE VARIABLE PAY AND INDIVIDUAL PERFORMANCE TO THE CORPORATE GOALS OF THE ORGANIZATION. THE PLANS INCLUDE LONG-TERM INCENTIVES FOR EXECUTIVES, MANAGEMENT INCENTIVES FOR MANAGEMENT-LEVEL AND ABOVE PERFORMANCE INCENTIVE FOR THE BALANCE OF THE ORGANIZATION.

Related corporations and trusts

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

• BELONG HEALTH NY LLC

  C · HOLDING CORPORATION · NY

  Directly controlled by MVPUT HOLDING

• BH ACO LLC

  C · MCR SUPPORT SERVICES · NY

  Directly controlled by BELONG HEALTH NY LLC

• BHNY IPA LLC

  C · DSNP PROVIDER NETWORK · NY

  Directly controlled by BELONG HEALTH NY LLC

• BHNY SERVICES LLC

  C · DSNP SUPPORT SERVICES · NY

  Directly controlled by BELONG HEALTH NY LLC

• GEMINI HEALTH HOLDINGS INC

  C · HOLDING CORPORATION · DE

  Directly controlled by MVPUT HOLDING

• GENOMIC CARE AND CONTROL INC

  C · PRECISION MEDICINE · DE

  Directly controlled by MVPUT HOLDING

• MVP BENEFIT GROUP INC

  C · AGENT/BROKER · NY

  Directly controlled by MVPUT HOLDING

• MVP HEALTH INSURANCE COMPANY

  C · INSURANCE · NY

  Directly controlled by MVPRT HOLDING

• MVP HEALTH SERVICES CORP

  C · INSURANCE · NY

  Directly controlled by MVPRT HOLDING

• MVP HEALTH SOLUTIONS IPA INC

  C · BH NTWRK CONTRACT · NY

  Directly controlled by MVPUT HOLDING

• MVP HEALTH SOLUTIONS INC

  C · BH NTWRK CONTRACT · NY

  Directly controlled by MVPUT HOLDING

• MVP SELECT CARE INC

  C · TPA/ASO · NY

  Directly controlled by MVPUT HOLDING

• MVP SERVICE CORP

  C · MANAGEMENT · NY

  Directly controlled by MVPUT HOLDING

• MVPHIC HOLDING CORP

  C · HOLDING CORPORATION · NY

  Directly controlled by MVP HEALTH CARE

• MVPHP HOLDING COMPANY INC

  C · HOLDING CORPORATION · NY

  Directly controlled by MVP HEALTH CARE

• MVPRT HOLDINGS INC

  C · HOLDING CORPORATION · NY

  Directly controlled by MVPHIC HOLD

• MVPUT HOLDINGS INC

  C · HOLDING CORPORATION · NY

  Directly controlled by MVPHIC HOLD