Overview
What is Avera Health Plans Inc?
Avera Health Plans Inc is a nonprofit health insurance organization based in Sioux Falls, South Dakota, with a service area linked to Avera Health. They provide affordable, high-quality health coverage to a diverse population, including the elderly, low-income individuals, and those in rural areas. Approximately 40% of their 80,000 members are individuals or employees of small groups, with nearly 10,000 being Medicare supplement members. Avera Health Plans participates in the Federal Health Insurance Exchange/Marketplace and has community-rated premiums. Despite not covering all their costs, they remain financially viable due to significant support from Avera Health, a 501(c)(3) organization. Averas mission is to make a positive impact on the lives and health of persons and communities by providing quality services rooted in Christian values. Additionally, they sponsor various health education events open to the public.
Official website here: www.averahealthplans.com
Is Avera Health Plans Inc legitimate?
Avera Health Plans Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Avera Health Plans 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: $2,591,384
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,543,739
For more financial information, click here
Official website here: www.averahealthplans.com
What is the mission statement of Avera Health Plans Inc?
Avera Health Plans Inc is dedicated to providing affordable, high-quality health plan coverage with a mission rooted in Christian values. As part of the Avera Health integrated delivery plan, Avera Health Plans aims to make a positive impact on the health and lives of individuals and communities, implementing quality services guided by these values. The health plans conduct a substantial portion of their activities within their service area, but also extend beyond to ensure adequate rural healthcare. They serve an underserved population, including the elderly, low-income, high-risk, and medically underserved individuals, with approximately 40% consisting of individuals or employees of small groups. Approximately 21,200 members are individuals, and over 90.9% of Health Care Exchange enrollees in the individual category were eligible for an advance premium tax credit, meaning they were below 400% of the federal poverty limit. Avera Health Plans distinguishes itself from for-profit plans by participating in the Federal Health Insurance Exchange/Marketplace and offering community-rated premiums that are market competitive. Significant financial support from Avera Health, a 501(c)(3), allows Avera Health Plans to remain financially viable. Additionally, they sponsor health education forums, open houses, and webinars open to the public.
Official website here: www.averahealthplans.com
Who is the CEO of Avera Health Plans Inc?
Bob Sutton is the President of Avera Health Plans Inc. The CEO's salary of Avera Health Plans Inc is $576,242 and their total compensation is $600,251.
Official website here: www.averahealthplans.com
What is the revenue of Avera Health Plans Inc?
Avera Health Plans Inc's revenue in 2022 was $337,041,127.
Official website here: www.averahealthplans.com
Who are the executives of Avera Health Plans Inc and what are their salaries?
The average compensation at Avera Health Plans Inc during 2022 was $75,926. There are 173 employees and 9 volunteers at Avera Health Plans Inc.
Here are 20 key members and their salaries (Avera Health Plans Inc's CEO's salary is $576,242 and their total compensation is $600,251):
- Compensation: $0
- Related: $2,078,032
- Other: $55,784
- Compensation: $0
- Related: $1,086,452
- Other: $17,088
- Compensation: $0
- Related: $704,190
- Other: $46,432
- Compensation: $576,242
- Related: $0
- Other: $24,009
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $200,589
- Other: $51,329
- Compensation: $0
- Related: $798,780
- Other: $46,532
- Compensation: $412,626
- Related: $0
- Other: $53,470
- Compensation: $327,325
- Related: $0
- Other: $53,690
- Compensation: $269,568
- Related: $0
- Other: $53,960
- Compensation: $216,806
- Related: $0
- Other: $45,873
- Compensation: $225,483
- Related: $0
- Other: $48,345
- Compensation: $199,747
- Related: $0
- Other: $47,838
- Compensation: $268,033
- Related: $0
- Other: $43,962
- Compensation: $216,801
- Related: $0
- Other: $31,743
- Compensation: $208,022
- Related: $0
- Other: $38,772
- Compensation: $156,352
- Related: $0
- Other: $42,621
Official website here: www.averahealthplans.com
Where can I find the form 990 for Avera Health Plans Inc?
Avera Health Plans Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.averahealthplans.com
Learn more at the official website: www.averahealthplans.com
Mission Statement of Avera Health Plans Inc
Avera Health Plans Inc, a health ministry rooted in Christian values, is on a mission to make a positive impact on the lives and health of individuals and communities by providing quality services. This nonprofit organization is an essential component of Avera Health's integrated delivery plan and strives to make healthcare accessible to underserved populations, including the elderly, low-income, high-risk, and medically underserved persons.
With a member base of over 80,000 in 2022, Avera Health Plans serves a significant number of Medicare Supplement members, and approximately 40% of its members consist of individuals or employees of small groups. The organization's commitment to affordability is evident through its community-rated premiums, which are market competitive, and its participation in the Federal Health Insurance Exchange/Marketplace. Avera Health Plans also sponsors health education forums, open houses, and webinars that are open to the public.
Moreover, Avera Health Plans ensures that adequate rural healthcare is available by conducting a small portion of its activities beyond the Avera Health service area. Significant financial support from Avera Health (a 501(c)(3)) enables the organization to remain financially viable. Despite having net medical and pharmacy claims expenses that resulted in a Medical Income Ratio (MIR) average of 93% for 2022, Avera Health Plans does not cover its costs, including claims and administrative expenses. The organization's unwavering commitment to providing quality, affordable healthcare services to its members is a testament to its mission of making a positive impact on the health and wellbeing of the communities it serves.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Avera Health Plans Inc. plays a vital role in enhancing community health by offering low-cost, high-quality health plan coverage. As an integral part of the Avera Health integrated delivery system, it aims to improve access to healthcare for underserved populations, including the elderly, low-income individuals, and those at heightened medical risk.
In 2022, Avera Health Plans served approximately 80,000 members, a significant portion of whom received Medicare Supplement coverage or were from small group employers. Notably, around 90.9% of individuals in the health care exchange category qualified for advance premium tax credits, indicating their economic vulnerability. Avera's community-rated, affordable premiums foster greater accessibility in the marketplace, allowing more people to obtain necessary medical services.
Their commitment extends beyond insurance coverage; Avera Health Plans actively engages in community health initiatives through educational forums, open houses, and webinars, promoting health literacy and awareness. The organization's strong financial backing from Avera Health ensures its sustainability and ability to meet community needs effectively.
Overall, Avera Health Plans Inc. is a crucial resource in its service area, addressing the gaps in healthcare access and contributing significantly to the overall well-being of the communities it serves.
This information is meant to be a general summary of Avera Health Plans 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 2022.
- Investment Income: $1,664,130
- Program Service Revenue: $335,376,997
- Gross Receipts: $352,054,295
Assets and Liabilities:
- Total Assets: $99,399,851
- Total Liabilities: $67,815,446
- Net Assets: $31,584,405
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUM INCOME
Revenue
$312,241,406
REIMBURSEMENTS BY UNINSURED PLANS
Revenue
$14,778,920
COST CONTAINMENT ALLOCATIONS
Revenue
$7,471,387
COB AND SUBROGATION
Revenue
$495,956
NONMEMBER ADMIN SERVICES
Revenue
$360,291
Organization Details
Founding Year
1999
Phone
(605) 322-4500Principal Officer
Bob Sutton
Main Address
5300 S BROADBAND LN, SIOUX FALLS, SD, 57108
Website
www.averahealthplans.comNTEE Category
Code: E80 - Health
If you are a representative of Avera Health Plans Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.