Overview
What is Georgia Chamber Federation Benefit Plan Trust?
The Georgia Chamber Federation Benefit Plan Trust is a self-funded health and welfare benefits provider, headquartered in Atlanta, Georgia. Established to cater to participating employers and their eligible dependents, spouses, and employees, the Trust is a multiple employer welfare arrangement. To become a member, employers must maintain good standing with the Georgia Chamber of Commerce or a participating chamber within the Georgia Chamber Federation. Each participating employer sets up its unique benefit plan within the Trust. The Trust's primary focus is on offering medical and prescription drug benefits to its members.
Is Georgia Chamber Federation Benefit Plan Trust legitimate?
Georgia Chamber Federation Benefit Plan Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Georgia Chamber Federation Benefit Plan 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.
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What is the mission statement of Georgia Chamber Federation Benefit Plan Trust?
The Georgia Chamber Federation Benefit Plan Trust functions as a multiple employer welfare arrangement, set up to extend self-funded medical and prescription drug benefits to its member organizations. The Trust offers healthcare coverage to eligible employees, dependents, and spouses of participating employers. To become a participating employer, one must maintain good standing membership with the Georgia Chamber of Commerce or any other Chamber of Commerce within the Georgia Chamber Federation. Each member employer sponsors its own benefit plan under the Trust.
Who is the CEO of Georgia Chamber Federation Benefit Plan Trust?
Morgan Law is the Chair of Georgia Chamber Federation Benefit Plan Trust.
What is the revenue of Georgia Chamber Federation Benefit Plan Trust?
Georgia Chamber Federation Benefit Plan Trust's revenue in 2022 was $319,048,998.
Who are the executives of Georgia Chamber Federation Benefit Plan Trust and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Georgia Chamber Federation Benefit Plan Trust?
Georgia Chamber Federation Benefit Plan Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Georgia Chamber Federation Benefit Plan Trust
The Georgia Chamber Federation Benefit Plan Trust is a multiple employer welfare arrangement that was established to offer self-funded medical and prescription drug benefits to its member organizations. In simpler terms, this trust serves as a collective health insurance provider for various employers in Georgia. By joining forces, these employers pool their resources to provide comprehensive health coverage for their employees, dependents, and spouses.
As a requirement for membership, participating employers must maintain good standing with the Georgia Chamber of Commerce or any other participating chamber of commerce within the Georgia Chamber Federation. Each employer sponsors its own benefit plan, allowing them to customize their coverage offerings according to their unique needs. The trust acts as a backbone, administering these plans and ensuring they remain financially sustainable.
The Georgia Chamber Federation Benefit Plan Trust's primary objective is to empower its member employers to offer high-quality, self-funded health and welfare benefits to their workforce. By pooling resources, the trust is able to negotiate favorable rates and coverage options with healthcare providers and pharmaceutical companies. This collective bargaining power results in cost savings for member employers, enabling them to offer competitive benefits packages to attract and retain talent.
In summary, the Georgia Chamber Federation Benefit Plan Trust is a collaborative initiative that provides self-funded health and welfare benefits to member organizations in Georgia. Through collective bargaining power, the trust offers cost-effective coverage options and empowers employers to provide competitive benefits packages to their workforce.
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Impact
October, 2024
The Georgia Chamber Federation Benefit Plan Trust plays a crucial role in enhancing the health and welfare of its members by offering self-funded medical and prescription drug benefits. This arrangement allows participating employers to tailor their benefit plans to meet the specific needs of their eligible employees, dependents, and spouses. By being part of this collective, employers can leverage shared resources, leading to potentially lower costs and improved access to healthcare services.
Participating employers are required to maintain good standing with the Georgia Chamber of Commerce or a participating chamber within the federation, fostering a network of businesses that prioritize employee well-being. This mutual benefit aspect creates a collaborative environment where employers can share best practices and strategies for managing health benefits, ultimately leading to healthier employee populations and reduced absenteeism.
Moreover, the availability of self-funded plans provides employers with greater flexibility in managing their healthcare expenditures. This can contribute to overall business sustainability by allowing companies to allocate resources more effectively, thereby enhancing their competitiveness. In summary, the Georgia Chamber Federation Benefit Plan Trust significantly impacts both employers and employees by promoting access to essential healthcare services, fostering a supportive business community, and facilitating sustainable benefits management.
This information is meant to be a general summary of Georgia Chamber Federation Benefit Plan 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: $230,571
- Program Service Revenue: $318,818,427
- Gross Receipts: $319,048,998
Assets and Liabilities:
- Total Assets: $81,153,926
- Total Liabilities: $71,728,878
- Net Assets: $9,425,048
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYERS' CONTRIB.
Revenue
$318,818,427
Organization Details
Founding Year
2018
Phone
(404) 223-2264Principal Officer
Morgan Law
Main Address
270 PEACHTREE STREET NW, ATLANTA, GA, 30303
NTEE Category
Code: Y43 - Mutual benefit
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