Overview
What is Colorado Health Benefit Exchange?
Colorado Health Benefit Exchange, also known as Connect for Health Colorado, is a nonprofit organization based in Denver, Colorado. Their mission is to enhance access, affordability, and choice for individuals and small employers purchasing health insurance in Colorado. In fiscal year 2022, they achieved significant milestones, with nearly 200,000 Coloradans enrolling for a health insurance plan during the open enrollment period - the highest total since their establishment in 2013. They also extended financial help through the Inflation Reduction Act and implemented new programs like Colorado's Tax Time Enrollment and Colorado Connect, offering more plan choices and cost/benefit transparency to customers. Their workforce comprises 206 employees dedicated to increasing access to affordable healthcare options in Colorado.
Official website here: www.connectforhealthco.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
The Colorado Health Benefit Exchange has received an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization has achieved a perfect score for having 100% independent board members, as well as for its audit and oversight committee, demonstrating a commitment to transparency and governance.
Additionally, the Exchange allocates a significant portion of its resources to programs, with a program expense ratio of 89.58%. This indicates a strong focus on delivering services that benefit the community, alongside effective financial management. They are also proactive in implementing essential policies such as conflict of interest, whistleblower, and document retention policies, further enhancing their operational integrity.
While the ratings highlight many organizational strengths, there are no notable limitations mentioned. Overall, the Colorado Health Benefit Exchange showcases a robust framework that supports its mission and fosters trust among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Colorado Health Benefit Exchange legitimate?
Colorado Health Benefit Exchange is a legitimate nonprofit organization registered as a 501(c)(3) entity. Colorado Health Benefit Exchange 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: $777,974
Professional Fundraising Fees: $0
Other Salaries and Wages: $11,568,578
For more financial information, click here
Official website here: www.connectforhealthco.com
What is the mission statement of Colorado Health Benefit Exchange?
The Colorado Health Benefit Exchange, known as Connect for Health Colorado, strives to enhance access, affordability, and choice for individuals and small employers in their pursuit of health insurance. This mission reflects the unique requirements of the state and aims to discover tailored solutions. Connect for Health Colorado explores a multitude of options to meet the objectives of expanded access, cost reduction, and a broader range of choices for Colorado residents.
Official website here: www.connectforhealthco.com
Who is the CEO of Colorado Health Benefit Exchange?
Kevin Patterson is the Director of Colorado Health Benefit Exchange. The CEO's salary of Colorado Health Benefit Exchange is $303,156 and their total compensation is $338,720.
Official website here: www.connectforhealthco.com
What is the revenue of Colorado Health Benefit Exchange?
Colorado Health Benefit Exchange's revenue in 2022 was $46,009,200.
Official website here: www.connectforhealthco.com
Who are the executives of Colorado Health Benefit Exchange and what are their salaries?
The average compensation at Colorado Health Benefit Exchange during 2022 was $59,935. There are 206 employees at Colorado Health Benefit Exchange.
Here are 17 key members and their salaries (Colorado Health Benefit Exchange's CEO's salary is $303,156 and their total compensation is $338,720):
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- Compensation: $303,156
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- Other: $35,564
- Compensation: $233,900
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- Other: $31,874
- Compensation: $219,928
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- Other: $39,057
- Compensation: $185,622
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- Other: $35,486
- Compensation: $154,979
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- Other: $31,103
- Compensation: $203,053
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- Other: $24,870
- Compensation: $194,786
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- Other: $31,769
- Compensation: $157,162
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- Other: $28,758
Official website here: www.connectforhealthco.com
Where can I find the form 990 for Colorado Health Benefit Exchange?
Colorado Health Benefit Exchange's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.connectforhealthco.com
Learn more at the official website: www.connectforhealthco.com
Mission Statement of Colorado Health Benefit Exchange
The Colorado Health Benefit Exchange, with a mission to increase access, affordability, and choice for individuals and small employers purchasing health insurance in Colorado, is dedicated to reflecting the unique needs of the state and seeking out Colorado-specific solutions. This organization strives to explore the maximum number of options available to Colorado in achieving its goals of expanded access, reduced costs, and heightened choice within the health insurance market. By focusing on the specific requirements of the Colorado community, the Colorado Health Benefit Exchange aims to provide a flexible and comprehensive solution for health insurance procurement in the state.
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Impact
October, 2024
The Colorado Health Benefit Exchange has significantly increased access, affordability, and choice for individuals seeking health insurance in the state. In the fiscal year 2022, the Exchange achieved notable enrollment milestones, with nearly 200,000 Coloradans signing up for health insurance plans by the close of the open enrollment period in January 2022. This represented a 10 percent increase from the previous year, marking the highest enrollment total since the Exchange's inception in 2013.
Overall enrollment, including those who signed up during special enrollment periods, reached a remarkable cumulative total of 232,631 individuals. Key program achievements in FY2022 contributed to this impact, such as the tax time enrollment program, the extension of financial assistance through the Inflation Reduction Act, and the passage of State Senate Bill 22-081, which funded a campaign to raise awareness about affordable health coverage options. Additionally, the introduction of Colorado Connect, a new platform, and the Colorado Option plans improved access to diverse insurance choices and cost transparency for consumers.
These initiatives demonstrate the Exchange's commitment to tailoring health insurance solutions that meet the specific needs of Colorado, ultimately enhancing the overall health security of its residents.
This information is meant to be a general summary of Colorado Health Benefit Exchange. 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: $2,987
- Program Service Revenue: $34,007,850
- Gross Receipts: $46,009,200
Assets and Liabilities:
- Total Assets: $43,264,341
- Total Liabilities: $6,650,974
- Net Assets: $36,613,367
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CARRIER FEE REVENUE
Revenue
$34,007,850
Organization Details
Founding Year
2011
Phone
(720) 496-2530Principal Officer
Kevin Patterson
Main Address
4600 SOUTH ULSTER STREET 300, DENVER, CO, 80237
Website
www.connectforhealthco.comNTEE Category
Code: E80 - Health
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