Overview
What is Nysut Member Benefits Catastrophe Major Medical Insurance Trust?
The Nysut Member Benefits Catastrophe Major Medical Insurance Trust is a nonprofit organization established under a trust to offer supplemental health insurance to the NYSUT membership on a voluntary basis. The trust, based in Latham, New York, provided coverage for excess major medical benefits to an average of 94,187 lives and managed 56,252 policies during the year ending December 31, 2022. This insurance trust aims to supplement the basic hospitalization and major medical insurance for NYSUT members, offering additional support when standard coverage falls short.
What are the reviews and ratings of this charity?
The Nysut Member Benefits Catastrophe Major Medical Insurance Trust is not currently rated by Charity Navigator. This is largely because the organization is not registered as a 501(c)(3) nonprofit, a prerequisite for evaluation by this rating agency. Therefore, the absence of a rating indicates that the organization has not yet been evaluated, rather than reflecting a positive or negative assessment.
Charity Navigator requires either an Accountability & Finance beacon or an Impact & Measurement beacon for rating eligibility, which does not apply to this organization given its non-501(c)(3) status. As such, detailed financial data, including total revenue, expenses, and key personnel salaries, are unavailable, making it difficult to assess the financial health and operational efficiency of the nonprofit through this platform.
There are no user reviews available from GreatNonprofits for this organization, meaning that public feedback or testimonials from those directly impacted by the nonprofit's work are not accessible at this time. This absence of reviews does not provide a community perspective on the trust's offerings or its effectiveness in delivering on its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Nysut Member Benefits Catastrophe Major Medical Insurance Trust legitimate?
Nysut Member Benefits Catastrophe Major Medical Insurance Trust is a legitimate nonprofit organization registered as a 501(c)(5) entity. Nysut Member Benefits Catastrophe Major Medical Insurance Trust 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
For more financial information, click here
What is the mission statement of Nysut Member Benefits Catastrophe Major Medical Insurance Trust?
The Nysut Member Benefits Catastrophe Major Medical Insurance Trust provides supplemental health insurance to the NYSUT membership on a voluntary basis. The trust's primary objective is to offer excess major medical benefits beyond basic hospitalization coverage. As of the end of 2022, this trust covered an average of 94,187 lives and issued 56,252 policies. It aims to support NYSUT members with additional medical benefits when their primary insurance falls short.
Who is the CEO of Nysut Member Benefits Catastrophe Major Medical Insurance Trust?
J Philippe Abraham is the Chairperson/Trustee of Nysut Member Benefits Catastrophe Major Medical Insurance Trust.
What is the revenue of Nysut Member Benefits Catastrophe Major Medical Insurance Trust?
Nysut Member Benefits Catastrophe Major Medical Insurance Trust's revenue in 2022 was $43,148,939.
Who are the executives of Nysut Member Benefits Catastrophe Major Medical Insurance Trust and what are their salaries?
Here are 14 key members and their salaries:
- Compensation: $0
- Related: $162,574
- Other: $95,419
- Compensation: $0
- Related: $18,775
- Other: $0
- Compensation: $0
- Related: $31,747
- Other: $0
- Compensation: $0
- Related: $152,775
- Other: $98,119
- Compensation: $0
- Related: $187,413
- Other: $107,163
- Compensation: $0
- Related: $24,847
- Other: $0
- Compensation: $0
- Related: $2,555
- Other: $0
- Compensation: $0
- Related: $16,096
- Other: $0
- Compensation: $0
- Related: $167,876
- Other: $103,884
- Compensation: $0
- Related: $166,526
- Other: $103,540
- Compensation: $0
- Related: $127,688
- Other: $69,311
- Compensation: $0
- Related: $178,741
- Other: $107,065
- Compensation: $0
- Related: $209,804
- Other: $117,042
- Compensation: $0
- Related: $205,746
- Other: $103,891
Where can I find the form 990 for Nysut Member Benefits Catastrophe Major Medical Insurance Trust?
Nysut Member Benefits Catastrophe Major Medical Insurance Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Nysut Member Benefits Catastrophe Major Medical Insurance Trust
The Nysut Member Benefits Catastrophe Major Medical Insurance Trust is a health insurance program established to offer supplemental benefits to the NYSUT membership on a voluntary basis. This trust provides excessive major medical insurance coverage and long-term care to its members. With an average of 94,187 covered lives and 56,252 policies in the year ending December 31, 2022, the trust has made a significant impact in the lives of many.
The mission of the Nysut Member Benefits Catastrophe Major Medical Insurance Trust is to enhance the basic hospitalization and major medical insurance that NYSUT members already have. By supplementing their existing coverage, members can enjoy greater peace of mind knowing that their medical expenses will be comprehensively taken care of. This insurance trust serves as a vital safety net for its members, ensuring they receive the best possible care when faced with catastrophic health situations.
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Impact
October, 2024
Nysut Member Benefits Catastrophe Major Medical Insurance Trust significantly enhances the health safety net for its participants by providing supplemental major medical insurance. The Catastrophe Major Medical Plan (CMM Plan) serves as an essential complement to existing basic hospitalization and major medical coverage, helping to protect members from high healthcare costs.
In 2022, the program supported an average of 94,187 covered lives, indicative of its broad reach and importance within the community. With 56,252 active policies, the Trust plays a critical role in alleviating financial burdens associated with medical emergencies and extended care needs. This ensures that NYSUT members have access to necessary health services without facing prohibitive out-of-pocket expenses, enhancing their overall security and well-being.
The Trust's focus on supplemental coverage effectively addresses the gaps that can arise in traditional health insurance plans, particularly for those facing catastrophic health events. By fostering a sense of community support among its members, the CMM Plan not only improves individual health outcomes but also contributes to the collective resilience of the membership in navigating health challenges.
This information is meant to be a general summary of Nysut Member Benefits Catastrophe Major Medical Insurance Trust. 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: $4,781,512
- Program Service Revenue: $38,367,427
- Gross Receipts: $75,986,990
Assets and Liabilities:
- Total Assets: $159,504,251
- Total Liabilities: $2,426,676
- Net Assets: $157,077,575
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTICIPANT CONTRIBUTIONS
Revenue
$38,367,427
Organization Details
Founding Year
2015
Phone
(518) 213-6000Principal Officer
J Philippe Abraham
Main Address
800 TROY-SCHENECTADY ROAD, LATHAM, NY, 121102455
NTEE Category
Code: E80 - Health
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