Overview
What is Evergreen Health Inc?
Evergreen Health Inc, headquartered in Baltimore, Maryland, was a nonprofit health insurance cooperative that aimed to offer consumers in Maryland a wider range of health plan options at more affordable prices. Regrettably, Evergreen Health faced financial difficulties and was placed under rehabilitation in July 2017. The situation worsened, and the cooperative was ultimately liquidated on September 1, 2017. As a consequence, all existing policies were terminated as of September 30, 2017. Despite its unfortunate demise, Evergreen Health Inc regularly submitted detailed reports on liquidation matters to the court on a quarterly basis.
Is Evergreen Health Inc legitimate?
Evergreen Health Inc is a legitimate nonprofit organization registered as a 501(c)(29) entity. Evergreen Health Inc 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: $138,258
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What is the mission statement of Evergreen Health Inc?
Evergreen Health Inc, prior to its liquidation, had a mission to offer affordable and varied health insurance plans to consumers in Maryland. Their goal was to provide consumers with more choices in health plan selection at lower costs. This mission was centered around consumer-oriented operations, aiming to serve the health insurance needs of the community in an efficient manner. However, due to unforeseen circumstances, Evergreen Health was ordered into liquidation, leading to the termination of all policies as of September 30, 2017. Post-liquidation, the company continues to provide detailed reports on liquidation matters to the court on a regular basis.
Who is the CEO of Evergreen Health Inc?
Leo C Garrity is the Principal Officer of Evergreen Health Inc.
What is the revenue of Evergreen Health Inc?
Evergreen Health Inc's revenue in 2020 was $56,478.
Who are the executives of Evergreen Health Inc 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 Evergreen Health Inc?
Evergreen Health Inc's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Evergreen Health Inc
Evergreen Health Inc, as a nonprofit organization, had a mission to provide Maryland consumers with a variety of health plan options. Their primary goal was to offer consumer-oriented and operated health insurance plans, aiming to offer more choices at lower costs. By doing so, they aimed to contribute to the healthcare landscape of the state, offering more affordability and flexibility to the consumers. However, due to unspecified circumstances, Evergreen Health was put into rehabilitation on July 31, 2017, and later into liquidation on September 1, 2017. As a result of the liquidation, all policies were terminated as of September 30, 2017. Since then, Evergreen Health has been providing detailed reports on liquidation matters to the court on a quarterly basis. Despite the liquidation, Evergreen Health's mission to offer consumer-oriented health insurance plans remained a significant contribution to the healthcare landscape in Maryland.
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Impact
October, 2024
Evergreen Health Inc had a significant impact on the health insurance landscape in Maryland. Established to provide consumer-oriented health insurance options under the Affordable Care Act (ACA), it aimed to enhance choice and affordability for residents. By offering plans tailored to the needs of consumers, Evergreen Health aimed to empower individuals in their health care decisions, fostering a more competitive market in the region.
However, its trajectory was challenged when it was ordered into rehabilitation in July 2017, leading to liquidation shortly after on September 1, 2017. This liquidation process resulted in the termination of all policies by September 30, 2017, affecting many policyholders who relied on its services. The closure highlighted the vulnerabilities faced by cooperative health insurers and raised concerns about the stability and sustainability of such models in providing accessible health care.
Throughout the liquidation, Evergreen Health has provided detailed reports to the court, reflecting a commitment to transparency despite its operational challenges. The organization’s experience serves as a case study in the complexities of health insurance cooperatives and their role in the broader healthcare system, particularly in how they can impact consumer choice and cost.
Overall, Evergreen Health's mission to create a consumer-focused health insurance alternative underscores the ongoing need for innovative solutions in the health care industry, while also illustrating the challenges that can arise in achieving those goals.
This information is meant to be a general summary of Evergreen Health Inc. 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 2020.
- Investment Income: $56,957
- Program Service Revenue: $157
- Gross Receipts: $57,114
Assets and Liabilities:
- Total Assets: $16,494,677
- Total Liabilities: $75,687,781
- Net Assets: -$59,193,104
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Insurance Premiums
Revenue
$157
Organization Details
Founding Year
2011
Phone
(615) 479-5790Principal Officer
Leo C Garrity
Main Address
PO Box 47520, Baltimore, MD, 21244
NTEE Category
Code: Y20 - Mutual benefit
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