Overview
What is Southern Ohio Chamber Alliance Benefit Plan?
The Southern Ohio Chamber Alliance Benefit Plan is a multiple employer welfare arrangement (MEWA) based in Cincinnati, Ohio. This nonprofit organization offers self-funded health and welfare benefits to its participating employers and their eligible employees. To join, employers must maintain membership in good standing with an authorized chamber of commerce. Each employer sponsors their unique benefit plan under the umbrella of the Southern Ohio Chamber Alliance Benefit Plan. The organization's mission includes providing medical and prescription drug benefits to its members.
Is Southern Ohio Chamber Alliance Benefit Plan legitimate?
Southern Ohio Chamber Alliance Benefit Plan is a legitimate nonprofit organization registered as a 501(c)(9) entity. Southern Ohio Chamber Alliance Benefit Plan 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:
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What is the mission statement of Southern Ohio Chamber Alliance Benefit Plan?
The Southern Ohio Chamber Alliance Benefit Plan serves as a Multiple Employer Welfare Arrangement (MEWA), offering self-funded medical and prescription drug benefits to its participating members. The organization's primary objective is to provide healthcare solutions for its members through this collaborative arrangement. By pooling resources and expertise, the Southern Ohio Chamber Alliance Benefit Plan enables smaller employers to access comprehensive benefits that they might not be able to offer independently. Each participating employer sponsors the benefit plan, ensuring that eligible employees can enjoy the coverage. The arrangement's self-funded structure allows for flexibility and cost savings compared to traditional insurance plans.
What is the revenue of Southern Ohio Chamber Alliance Benefit Plan?
Southern Ohio Chamber Alliance Benefit Plan's revenue in 2023 was $546,217,775.
Who are the executives of Southern Ohio Chamber Alliance Benefit Plan and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Southern Ohio Chamber Alliance Benefit Plan?
Southern Ohio Chamber Alliance Benefit Plan's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Southern Ohio Chamber Alliance Benefit Plan
The Southern Ohio Chamber Alliance Benefit Plan, a Multiple Employer Welfare Arrangement (MEWA), is dedicated to delivering self-funded medical and prescription drug benefits to its member businesses and their eligible employees. Acting as a collective, participating employers contribute to the trust, which in turn, offers comprehensive health and welfare benefits as a result. In order to join, employers must maintain good standing with a chamber of commerce authorized to provide the SOCA Benefit Plan. Each participating employer sponsors the plan for their workforce, contributing to the overall effectiveness and reach of the organization.
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Impact
October, 2024
The Southern Ohio Chamber Alliance Benefit Plan has a significant impact on employers and employees in the region by providing access to self-funded medical and prescription drug benefits. As a Multiple Employer Welfare Arrangement (MEWA), it allows participating employers, who must be members of a Chamber of Commerce, to collaboratively sponsor health and welfare benefits for their eligible employees. This arrangement not only helps small to mid-sized businesses manage healthcare costs more effectively but also enhances employee retention and satisfaction by offering quality health coverage.
By participating in this pooled arrangement, employers can leverage the combined purchasing power, resulting in potentially lower premiums and more comprehensive coverage options than they might secure independently. The Southern Ohio Chamber Alliance Benefit Plan thus supports local businesses in creating a more competitive work environment, contributing to healthier workplaces and communities throughout the Cincinnati area.
This information is meant to be a general summary of Southern Ohio Chamber Alliance Benefit Plan. 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 2023.
- Investment Income: $2,460,022
- Program Service Revenue: $543,757,753
- Gross Receipts: $546,217,775
Assets and Liabilities:
- Total Assets: $78,834,639
- Total Liabilities: $68,703,138
- Net Assets: $10,131,501
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE&EMPLOYER CONTRIB.
Revenue
$543,757,753
Organization Details
Founding Year
2016
Principal Officer
Matthew Appenzeller
NTEE Category
Code: Y43 - Mutual benefit
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