Blue Cross Blue Shield of Massachusetts HMO Blue Inc
- Assets
- $3.1b
- Revenue
- $5.4b
- Investments
- $963.0m
- Employees
- 0
- Location
- Boston, MA
- Founding
- Data as of
- 12/2021
- EIN
- 04-3362283
Organization Overview
Blue Cross Blue Shield of Massachusetts HMO Blue Inc is located in Boston, MA. Blue Cross Blue Shield of Massachusetts HMO Blue Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Blue Cross Blue Shield of Massachusetts HMO Blue Inc generated $5.4b in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $5.2b during the year ending 12/2021. While expenses have increased by 2.8% per year over the past 2 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IT IS A HEALTH MAINTENANCE ORGANIZATION THAT PROVIDES MEDICAL AND OTHER HEALTH BENEFITS TO MEMBERS THROUGH CONTRACTS WITH HOSPITALS, PHYSICIANS, NURSING HOMES, ETC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF HOSPITAL AND MEDICAL BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Chrisanthopulos Associate Director, Sales | 0 | $250,455 | |
Richard Lewis Physician Reviewer | 0 | $97,214 | |
Kerim Munir Psychiatrist | 0 | $91,347 | |
Mark Collura Assistant Treasurer | Officer | 0 | $89,345 |
M Elyce Kearns Associate Medical Director | 0 | $88,179 | |
Enrico Giammarco Assistant Treasurer | Officer | 0 | $86,785 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Perficient Inc It Consulting | 12/30/21 | $12,733,998 |
Cognizant Worldwide Limted It Consulting | 12/30/21 | $5,605,640 |
Ernst Young Llp Financial Services | 12/30/21 | $1,334,279 |
Oliver Wyman Inc Business Consulting | 12/30/21 | $1,163,945 |
Genpact International Inc It Consulting | 12/30/21 | $735,053 |
View All Vendors
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,257,247,493 |
| Investment income | $78,595,036 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $43,738,252 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,379,580,781 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,700,206,938 |
| Compensation of current officers, directors, key employees. | $208,507 |
| Compensation of current officers, directors, key employees. | $208,507 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $137,386,479 |
| Pension plan accruals and contributions | -$1,597,985 |
| Other employee benefits | $23,868,386 |
| Payroll taxes | $9,571,794 |
| Fees for services: Management | $1,024,154 |
| Fees for services: Legal | $1,866,285 |
| Fees for services: Accounting | $20,845,383 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $116,026,027 |
| Advertising and promotion | $3,512,906 |
| Office expenses | $5,246,996 |
| Information technology | $40,884,505 |
| Royalties | $0 |
| Occupancy | $10,330,263 |
| Travel | $589,083 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,091,832 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,195,259,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,129,640 |
| Savings and temporary cash investments | $144,372,548 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $167,636,083 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $87,042,944 |
| Investments—publicly traded securities | $1,628,507,225 |
| Investments—other securities | $962,957,591 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,080,685 |
| Total assets | $3,100,726,716 |
| Accounts payable and accrued expenses | $39,282,693 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $180,158,814 |
| Other liabilities | $778,173,728 |
| Total liabilities | $997,615,235 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,103,111,481 |
| Total liabilities and net assets/fund balances | $3,100,726,716 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Fund For Unicef New York, NY | $445,451,590 | $1,061,946,827 |
Eastern Maine Medical Center Bangor, ME | $1,005,801,244 | $940,831,284 |
Lahey Clinic Hospital Inc Burlington, MA | $439,333,881 | $1,036,261,688 |
Presbyterian Medical Center Of The University Of Pennsylvania Health Philadelphia, PA | $864,132,692 | $1,007,924,819 |
Southern New Hampshire University Manchester, NH | $1,413,400,967 | $1,091,579,648 |
Elderserve Health Inc Bronx, NY | $276,950,489 | $957,027,070 |
Cape Cod Healthcare Inc Hyannis, MA | $1,256,505,571 | $986,611,618 |
Newyork-Presbyterian-Queens Flushing, NY | $898,800,022 | $913,594,490 |
New York-Presbyterian Brooklyn Methodist Brooklyn, NY | $1,733,884,296 | $932,635,722 |
Fordham University Bronx, NY | $2,430,141,698 | $953,892,663 |
St Josephs Health System Subordinate Group Return Paterson, NJ | $1,081,595,215 | $963,799,571 |
Rochester Institute Of Technology Rochester, NY | $2,526,196,996 | $1,071,324,345 |