Overview
What is New Hampshire Individual Health Plan Benefit Association?
The New Hampshire Individual Health Plan Benefit Association is a nonprofit organization, established under the order of the New Hampshire Insurance Commissioner, aimed at supporting the state's individual health plan programs. Its primary mission is to protect New Hampshire residents in the individual health insurance market by providing a mechanism to evenly distribute excess risk associated with this market. The membership consists of all insurers licensed to transact health insurance in the state, offering major medical coverage on an expense-incurred basis, and licensed hospitals, medical service corporations, or other organizers that offer subscriber contracts for major medical coverage. The association collects assessments from its members and uses the funds to support New Hampshire's current Medicaid expansion program, known as the Granite Advantage Health Care Program. The state then utilizes these funds according to statute to broaden its Medicaid services to a larger underprivileged population.
Official website here: www.nhhp.org
Is New Hampshire Individual Health Plan Benefit Association legitimate?
New Hampshire Individual Health Plan Benefit Association is a legitimate nonprofit organization registered as a 501(c)(4) entity. New Hampshire Individual Health Plan Benefit Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.nhhp.org
What is the mission statement of New Hampshire Individual Health Plan Benefit Association?
The New Hampshire Individual Health Plan Benefit Association was established under the order of the New Hampshire Insurance Commissioner to support the state's individual health plan programs. Its primary purpose is to safeguard New Hampshire residents in the individual health insurance market by offering a fair mechanism to distribute the excess risk associated with this market. The association's membership comprises all insurers licensed to transact health insurance in New Hampshire with major medical coverage on an expense-incurred basis, as well as hospitals, medical service corporations, and other organizers offering subscriber contracts for major medical coverage. In essence, the New Hampshire Individual Health Plan Benefit Association aims to shield residents from the uncertainties of the individual health insurance market by establishing a mutually beneficial platform for risk distribution.
Official website here: www.nhhp.org
Who is the CEO of New Hampshire Individual Health Plan Benefit Association?
Christopher Kennedy is the Director of New Hampshire Individual Health Plan Benefit Association.
Official website here: www.nhhp.org
What is the revenue of New Hampshire Individual Health Plan Benefit Association?
New Hampshire Individual Health Plan Benefit Association's revenue in 2022 was $66,352,457.
Official website here: www.nhhp.org
Who are the executives of New Hampshire Individual Health Plan Benefit Association and what are their salaries?
There 11 volunteers at New Hampshire Individual Health Plan Benefit Association.
Here are 13 key members and their salaries:
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Official website here: www.nhhp.org
Where can I find the form 990 for New Hampshire Individual Health Plan Benefit Association?
New Hampshire Individual Health Plan Benefit Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nhhp.org
Learn more at the official website: www.nhhp.org
Mission Statement of New Hampshire Individual Health Plan Benefit Association
The New Hampshire Individual Health Plan Benefit Association, a vital organization established under the New Hampshire Insurance Commissioner's order, aims to safeguard the state's residents participating in the Individual Health Insurance Market. With a mission to equitably distribute the excess risk associated with this market, the Association protects New Hampshire's residents by offering a mechanism for sharing burdens among its members.
Comprised of all insurers licensed to transact health insurance in New Hampshire, as well as hospitals, medical service corporations, and other organizers offering major medical coverage on an expense-incurred basis, the Association's membership forms a broad alliance dedicated to supporting the state's Individual Health Plan Programs. By bringing together these entities, the Association ensures a stable and sustainable health insurance market for the residents of New Hampshire.
In essence, the New Hampshire Individual Health Plan Benefit Association acts as a shield, safeguarding the state's residents from the financial uncertainties that come with the Individual Health Insurance Market. Through its mission, the Association fosters a healthier and more resilient health insurance landscape for all New Hampshire citizens.
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Impact
October, 2024
The New Hampshire Individual Health Plan Benefit Association plays a crucial role in the state's health insurance landscape by supporting the individual health insurance market. Its primary impact lies in protecting residents who participate in this market by creating a framework for the equitable distribution of excess risk associated with individual health insurance plans. This ensures that financial burdens are shared among insurers, which helps stabilize the market and maintain access to coverage for individuals.
By collecting assessments from member insurers, the Association contributes to the funding of the state's Medicaid expansion program, known as the Granite Advantage Health Care Program. This program is essential for extending Medicaid services to a broader segment of the underserved population in New Hampshire, thereby improving access to vital health services for those who need them most.
Overall, the Association's efforts bolster the individual health insurance market, ensuring more robust protections for consumers and facilitating access to necessary healthcare resources for vulnerable populations within the state.
This information is meant to be a general summary of New Hampshire Individual Health Plan Benefit Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $150,660
- Program Service Revenue: $34,657,695
- Gross Receipts: $66,352,457
Assets and Liabilities:
- Total Assets: $24,479,679
- Total Liabilities: $24,479,679
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBER ASSESSMENTS
Revenue
$34,601,996
CLAIMS REFUNDS
Revenue
$55,699
Organization Details
Founding Year
1997
Phone
(603) 225-6633Principal Officer
Christopher Kennedy
Main Address
1 PILLSBURY ST RM/STE 200, CONCORD, NH, 03301
Website
www.nhhp.orgNTEE Category
Code: Y20 - Mutual benefit
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