Overview
What is Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois?
Self-Insurance Trust Agreement Established by Methodist Medical Center of Illinois is a financial arrangement that facilitates the management of healthcare-related expenses for the medical center. This agreement allows Methodist Medical Center to self-fund its insurance needs, thereby potentially reducing reliance on external insurance providers. The specifics of this arrangement are not fully disclosed, but it is implied that this trust aims to provide financial stability and control over insurance costs for the medical center.
Is Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois legitimate?
Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois is a legitimate nonprofit organization registered as a 501(c)(3) entity. Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois 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 Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois?
The Self Insurance Trust Agreement established by Methodist Medical Center of Illinois operates a self-insurance plan as its primary activity. The mission of this self-insurance plan, in essence, is to provide financial coverage and risk management services for the hospital and its affiliated entities. By doing so, it aims to safeguard the financial stability and continuity of operations, ensuring that necessary medical services can be provided without interruption. The trust agreement may also involve setting aside funds for potential liabilities, thereby protecting the hospital's assets and maintaining its financial integrity.
Who is the CEO of Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois?
Keith Knepp Md is the Principal Officer of Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois.
What is the revenue of Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois?
Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois's revenue in 2022 was $378,297.
Who are the executives of Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $8,557
- Related: $0
- Other: $0
- Compensation: $0
- Related: $445,945
- Other: $36,450
Where can I find the form 990 for Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois?
Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois
Self Insurance Trust Agreement Established by Methodist Medical Center of Illinois is focused on managing a self-insurance plan. This mission involves providing financial protection and risk management solutions for the medical center, ensuring financial stability and security in the face of potential medical liabilities. By establishing a self-insurance plan, the organization can maintain control over its insurance costs and tailor coverage to its specific needs, ultimately benefiting the medical center and its patients. The Self Insurance Trust Agreement Established by Methodist Medical Center of Illinois serves as a testament to the medical center's commitment to financial responsibility and proactive risk management.
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Impact
October, 2024
The Self Insurance Trust Agreement established by Methodist Medical Center of Illinois plays a significant role in supporting the financial stability and operational sustainability of the health services it provides. By creating a fund specifically for self-insurance purposes, the medical center can mitigate risks associated with liability and other healthcare-related exposures.
This trust allows the organization to retain more control over potential claims and losses, reducing dependence on external insurance providers. This can lead to cost savings, as funds typically paid in premiums can be allocated toward direct care or facility improvements, ultimately benefiting the community's overall health services.
By reinforcing its financial framework through this self-insurance model, Methodist Medical Center can better allocate resources where they are needed most, ensuring that it continues to provide critical services in Peoria, Illinois. This strengthens its mission to deliver quality healthcare while promoting a sustainable approach to risk management within the healthcare sector.
This information is meant to be a general summary of Self Insurance Trust Agreement Estb By Methodist Medical Center Of Illinois. 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: $378,297
- Gross Receipts: $1,114,013
Assets and Liabilities:
- Total Assets: $5,663,946
- Total Liabilities: $0
- Net Assets: $5,663,946
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Organization Details
Founding Year
1981
Phone
(306) 672-5522Principal Officer
Keith Knepp Md
Main Address
221 NORTHEAST GLEN OAK AVENUE, PEORIA, IL, 61636
NTEE Category
Code: E99 - Health
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