Overview
What is Atlanticare Health System Inc Welfare Benefits Trust?
Atlanticare Health System Inc Welfare Benefits Trust is a nonprofit organization established to provide health and welfare benefits for eligible retirees and their dependents from Atlanticare Health System, Inc. and its subsidiaries. Originally, these benefits were covered under a group health insurance plan, which included medical, dental, prescription, employee assistance, vision, and business travel insurance. In 2008, a VEBA Trust was established to fund certain welfare benefits for eligible retirees and their dependents under the old plan. In 2011, a new plan was established by the Board of Trustees to provide retiree welfare benefits that were previously provided under the old plan. The old plan no longer covers retirees and their dependents. The Trust's mission is to continue providing these benefits to eligible retirees and their dependents.
Is Atlanticare Health System Inc Welfare Benefits Trust legitimate?
Atlanticare Health System Inc Welfare Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Atlanticare Health System Inc Welfare Benefits 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 Atlanticare Health System Inc Welfare Benefits Trust?
The Atlanticare Health System Inc Welfare Benefits Trust was established with the purpose of providing various health and welfare post-retirement benefits to eligible retired employees and their covered dependents. Originating from the Atlanticare Health System's group health insurance, the trust funds medical, dental, prescription, employee assistance plan, vision, and business travel insurance. In 2008, a trust (VEBA Trust) was established to fund certain welfare benefits for eligible retirees and their dependents, under the former plan. Effective January 1, 2011, the trust became the primary source for providing retiree welfare benefits previously offered under the former plan. Retirees and their dependents are no longer eligible for benefits under the former plan. The VEBA Trust is now exclusively utilized to fund these post-retirement welfare benefits.
Who is the CEO of Atlanticare Health System Inc Welfare Benefits Trust?
Atlanticare Health System Inc is the Trustee of Atlanticare Health System Inc Welfare Benefits Trust.
What is the revenue of Atlanticare Health System Inc Welfare Benefits Trust?
Atlanticare Health System Inc Welfare Benefits Trust's revenue in 2022 was $898,425.
Who are the executives of Atlanticare Health System Inc Welfare Benefits Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Atlanticare Health System Inc Welfare Benefits Trust?
Atlanticare Health System Inc Welfare Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Atlanticare Health System Inc Welfare Benefits Trust
Atlanticare Health System Inc Welfare Benefits Trust is an entity established with the primary mission of providing various health and welfare benefits to certain retired employees and their dependents of Atlanticare Health System and its subsidiaries. The Trust was formed in 2008, with the purpose of funding certain welfare benefits for eligible retirees and their dependents under the former health insurance plan. In 2011, the Board of Trustees established this plan to provide retiree welfare benefits previously provided under the former plan, and amended the former plan to exclude retirees and their dependents from eligibility. The Trust was further amended to be used exclusively for funding these retiree welfare benefits. The Atlanticare Health System Inc Welfare Benefits Trust continues to serve its mission by providing post-retirement benefits to qualifying individuals, ensuring a continuum of care and support for these individuals in their retirement years.
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Impact
October, 2024
Atlanticare Health System Inc Welfare Benefits Trust plays a crucial role in providing essential health and welfare benefits to retired employees and their dependents of Atlanticare Health System. It ensures that individuals who have dedicated their careers to the organization continue to receive support in their post-retirement years through comprehensive healthcare coverage.
The trust offers a range of welfare benefits, including medical, dental, prescription, vision, and employee assistance programs. By establishing a dedicated funding mechanism, the trust addresses the welfare needs of retirees who might otherwise struggle with healthcare costs. This structured support not only enhances the quality of life for retirees but also fosters a sense of security and well-being among them and their families.
Moreover, by transitioning the benefits previously offered under the former plan to the trust, Atlanticare Health System demonstrates its commitment to its retired employees. This structured approach to funding healthcare benefits ensures that retirees have reliable access to necessary services, reflecting the organization's long-term investment in the health and welfare of its workforce.
Overall, the Atlanticare Health System Inc Welfare Benefits Trust significantly impacts the lives of retired employees by providing ongoing access to critical health benefits, reinforcing the organization's commitment to its workforce even after they have transitioned from active service.
This information is meant to be a general summary of Atlanticare Health System Inc Welfare Benefits 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: $654,037
- Program Service Revenue: $244,388
- Gross Receipts: $1,335,436
Assets and Liabilities:
- Total Assets: $14,948,128
- Total Liabilities: $0
- Net Assets: $14,948,128
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$204,434
DRUG SUBSIDY
Revenue
$34,823
EMPLOYEE CONTRIBUTIONS
Revenue
$5,131
Organization Details
Founding Year
2008
Phone
(609) 569-7031Principal Officer
Atlanticare Health System Inc
Main Address
2500 ENGLISH CREEK AVENUE, EGG HARBOR TOWNSHIP, NJ, 08234
NTEE Category
Code: Y43 - Mutual benefit
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