Overview
What is Mary Free Bed Insurance Company Pcc?
Mary Free Bed Insurance Company Pcc is a captive insurance company, serving as a subsidiary to its not-for-profit parent, Mary Free Bed Rehabilitation Hospital. Their primary function is to issue reimbursement policies for losses incurred under commercial insurance policies, covering areas such as general liability, professional liability, excess workers' compensation, and employee medical plan expenses. In addition to their financial role, Mary Free Bed Insurance Company Pcc contributes to the community's health by providing healthcare services to all individuals seeking care at their parent's facilities, regardless of their ability to pay. Furthermore, they offer non-discriminatory healthcare services to Medicare and Medicaid patients. Overall, their mission is to support the mission of their parent organization and the community served by enhancing risk management, thereby reducing the total cost of their parent's enterprise risk.
Is Mary Free Bed Insurance Company Pcc legitimate?
Mary Free Bed Insurance Company Pcc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mary Free Bed Insurance Company Pcc 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 Mary Free Bed Insurance Company Pcc?
The Mary Free Bed Insurance Company PCC supports the mission of its non-profit parent, the Mary Free Bed Rehabilitation Hospital, and the community they serve, by enhancing the management of various risks, such as patient, employee, and other risks. This step reduces the overall cost of the parent's enterprise risk. In addition, the insurance company promotes the health of the community by providing healthcare services to all individuals seeking care at its parent's facilities, regardless of their ability to pay. This includes offering non-discriminatory healthcare services to Medicare and Medicaid patients seeking care at its facilities. In essence, the Mary Free Bed Insurance Company PCC helps its parent organization manage risks and provides essential healthcare services to the community.
Who is the CEO of Mary Free Bed Insurance Company Pcc?
Ryan Podvin is the Secretary of Mary Free Bed Insurance Company Pcc.
What is the revenue of Mary Free Bed Insurance Company Pcc?
Mary Free Bed Insurance Company Pcc's revenue in 2022 was $2,103,477.
Who are the executives of Mary Free Bed Insurance Company Pcc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $930,211
- Other: $36,885
- Compensation: $0
- Related: $500,058
- Other: $40,730
- Compensation: $259,110
- Related: $0
- Other: $19,279
Where can I find the form 990 for Mary Free Bed Insurance Company Pcc?
Mary Free Bed Insurance Company Pcc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mary Free Bed Insurance Company Pcc
Mary Free Bed Insurance Company PCC supports the non-profit mission of its parent, Mary Free Bed Rehabilitation Hospital, and the community served by it, by enhancing the management of patient, employee, and other risks. This, in turn, reduces the total cost of its parent's enterprise risk. In addition to its financial role, Mary Free Bed Insurance Company PCC promotes the health of the community it serves in various ways. One of these methods is by providing health care services to all individuals seeking care at its parent's facilities, regardless of their ability to pay. This inclusive approach extends to Medicare and Medicaid patients, ensuring they receive non-discriminatory care at Mary Free Bed's facilities. By doing so, Mary Free Bed Insurance Company PCC contributes to the well-being of the community, demonstrating its commitment to supporting its parent organization's mission and the community it serves.
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Impact
October, 2024
Mary Free Bed Insurance Company PCC plays a pivotal role in enhancing the overall healthcare landscape in Grand Rapids, MI, by addressing financial risks for its not-for-profit parent organization, Mary Free Bed Rehabilitation Hospital. It issues deductible reimbursement policies that mitigate losses under commercial insurance, particularly for general and professional liability, excess workers' compensation, and employee medical expenses. This proactive financial strategy reduces the overall risk management costs for its parent organization.
In addition to risk management, the company significantly contributes to community health by ensuring that all individuals seeking care at Mary Free Bed facilities receive services without regard to their ability to pay. This commitment to healthcare access is especially evident in its non-discriminatory practices for Medicare and Medicaid patients, thus reinforcing the importance of equity in healthcare services.
By promoting a sustainable financial framework and enhancing service accessibility, Mary Free Bed Insurance Company PCC directly influences the vitality of the community it serves, ensuring that quality healthcare remains available to all residents, regardless of their financial situation.
This information is meant to be a general summary of Mary Free Bed Insurance Company Pcc. 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: $6,211
- Program Service Revenue: $2,097,266
- Gross Receipts: $2,103,477
Assets and Liabilities:
- Total Assets: $4,395,711
- Total Liabilities: $3,093,638
- Net Assets: $1,302,073
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUM REVENUE
Revenue
$2,097,266
Organization Details
Founding Year
2020
Phone
(800) 528-8989Principal Officer
Ryan Podvin
Main Address
235 WEALTHY ST SE, GRAND RAPIDS, MI, 49503
NTEE Category
Code: Y20 - Mutual benefit
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