Overview
What is Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust?
The Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust is a nonprofit organization based in Spokane, Washington. It holds assets for a County of Riverside, California Voluntary Employees' Beneficiary Association (VEBA) post-employment health plan. This plan, often referred to as a health reimbursement arrangement (HRA), is a defined contribution, health and welfare benefit plan. Its primary purpose is to provide a tax-free account for participants to cover post-employment medical expenses not covered by Medicare or other medical insurance plans. The plan is designed to reimburse eligible expenses, excluding those covered by other insurance contracts or plans. The trust aims to supply qualified health and welfare benefits to participants and their dependents, ensuring they have financial support for necessary medical care after retirement.
Is Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust legitimate?
Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust?
The Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust's mission is to offer qualified health and welfare benefits to its participants and their dependents, beyond what is covered by Medicare or other medical insurance plans, through a health reimbursement arrangement (HRA). This trust aims to provide a tax-free account for participants to pay for medical expenses not covered by other insurance contracts or plans. The payments or reimbursements are intended for expenses that are not covered by any other insurance or deducted under the Internal Revenue Code. The expenses must be for the participants, their spouses, or their dependents.
Who is the CEO of Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust?
Steven R Sherman is the Trustee of Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust.
What is the revenue of Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust?
Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust's revenue in 2022 was $10,829,852.
Who are the executives of Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $12,070
- Other: $0
Where can I find the form 990 for Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust?
Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust
The Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust is committed to providing qualified health and welfare benefits to its participants and their dependents. Operating as a health reimbursement arrangement (HRA), this trust serves as a tax-free account for participants to cover post-employment medical expenses that are not covered by Medicare or any other medical insurance contract or plan. The trust ensures that eligible expenses, such as medical bills, are reimbursed, provided they are not covered by any other insurance or are not expenses that can be deducted by the participant under the Internal Revenue Code. In essence, the Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust aims to bridge the gap in healthcare coverage for its participants after their employment, ensuring they maintain their wellbeing and receive necessary medical care.
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Impact
October, 2024
The Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust significantly impacts the financial well-being of participants by offering a structured way to manage medical expenses after employment ends. This trust holds the assets of the County of Riverside's Voluntary Employees' Beneficiary Association, establishing a defined contribution health and welfare benefit plan designed to facilitate tax-free payments for post-employment medical benefits.
By providing a health reimbursement arrangement (HRA), the trust enables participants to reimburse themselves for medical costs that are not covered by Medicare or other health insurance plans. This is especially beneficial for retirees or employees transitioning to retirement, as they often face increased medical expenses that can strain their resources. The ability to utilize a tax-free account for these expenses alleviates financial pressure, allowing participants to maintain better access to necessary healthcare services.
Moreover, the structure of the plan ensures that eligible expenses encompass not only the participant but also their spouses and dependents, extending the benefits to an entire family unit. By fostering financial security in healthcare, the trust ultimately contributes to a healthier community, mitigating potential burdens on public health systems and enhancing overall quality of life for participants and their families.
This information is meant to be a general summary of Co Of Riverside Ca Veba Post-Employment Health Savings Plan Trust. 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: -$5,160,764
- Program Service Revenue: $15,990,616
- Gross Receipts: $10,829,852
Assets and Liabilities:
- Total Assets: $74,727,773
- Total Liabilities: $24,250
- Net Assets: $74,703,523
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Plan contributions
Revenue
$15,990,616
Organization Details
Founding Year
2002
Phone
(509) 838-5571Principal Officer
Steven R Sherman
Main Address
221 N Wall St 201, Spokane, WA, 99201
NTEE Category
Code: Y44 - Mutual benefit
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