Boston Medical Center Health Plan Inc
- Assets
- $1.7b
- Revenue
- $4.1b
- Investments
- $0.0
- Employees
- 1,292
- Location
- Charlestown, MA
- Founding
- 07/2000
- Data as of
- 09/2023
- EIN
- 04-3373331
Organization Overview
Boston Medical Center Health Plan Inc, operating under the name Wellsense Health Plan, is located in Charlestown, MA. The organization was established in 2000. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 09/2023, Wellsense Health Plan employed 1,292 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellsense Health Plan is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Wellsense Health Plan generated $4.1b in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $4.0b during the year ending 09/2023. While expenses have increased by 12.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WELLSENSE IS ORGANIZED AND SHALL OPERATE AS A NONPROFIT CORPORATION EXCLUSIVELY FOR THE BENEFIT OF AND TO SUPPORT BOSTON MEDICAL CENTER CORPORATION AND TO PROVIDE ACCESS TO EFFECTIVE, EFFICIENT MEDICAL CARE AMONG LOW INCOME, UNDERSERVED, DISABLED, ELDERLY AND OTHER VULNERABLE RESIDENTS OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS ORGANIZED AND OPERATES AS A NONPROFIT CORPORATION EXCLUSIVELY FOR THE BENEFIT OF AND TO SUPPORT BOSTON MEDICAL CENTER CORPORATION AND TO PROVIDE ACCESS TO EFFECTIVE, EFFICIENT MEDICAL CARE AMONG LOW INCOME, UNDERSERVED, DISABLED, ELDERLY AND OTHER VULNERABLE RESIDENTS OF THE COMMUNITY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Thiltgen Trustee/president | OfficerTrustee | 50 | $900,242 |
Kathleen Walsh Trustee (thru 2/28/23) | Trustee | 1 | $0 |
Alastair Bell MD Trustee | Trustee | 1 | $0 |
David Ament Trustee (thru 7/11/23) | Trustee | 2 | $0 |
James Blue Trustee | Trustee | 1 | $0 |
Stacy Cowan Trustee (thru 7/11/23) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carelon Behavioral Health Strategies Ll Behavioral Health Benefit Administration | 9/29/23 | $22,556,906 |
Express Scripts Inc Pharmacy Benefits Manager | 9/29/23 | $7,271,222 |
Boston Children's Accountable Care Organ Care Mgmt And Other Admin Payments | 9/29/23 | $8,023,310 |
Kaeppel Consulting Llc Consulting Services | 9/29/23 | $6,758,477 |
Health Management Systems Inc Claim Services | 9/29/23 | $3,678,996 |
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 | $4,098,701,726 |
| Investment income | $42,914,795 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,865,713 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,137,750,808 |
| 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 | $3,680,564,099 |
| Compensation of current officers, directors, key employees. | $5,440,115 |
| Compensation of current officers, directors, key employees. | $5,440,115 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $113,802,778 |
| Pension plan accruals and contributions | $2,647,312 |
| Other employee benefits | $18,904,884 |
| Payroll taxes | $7,861,308 |
| Fees for services: Management | $24,076,703 |
| Fees for services: Legal | $213,663 |
| Fees for services: Accounting | $796,377 |
| Fees for services: Lobbying | $149,663 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,495,685 |
| Fees for services: Other | $80,301,238 |
| Advertising and promotion | $9,681,868 |
| Office expenses | $4,019,659 |
| Information technology | $21,916,317 |
| Royalties | $0 |
| Occupancy | $3,073,098 |
| Travel | $793,855 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $439,624 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,160,279 |
| Insurance | $0 |
| All other expenses | $1,606,014 |
| Total functional expenses | $4,017,725,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,208,539,389 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $94,579,066 |
| 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 | $20,107,158 |
| Net Land, buildings, and equipment | $11,875,088 |
| Investments—publicly traded securities | $323,306,591 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,802,021 |
| Total assets | $1,661,209,313 |
| Accounts payable and accrued expenses | $625,142,195 |
| 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 | $0 |
| Other liabilities | $354,475,761 |
| Total liabilities | $979,617,956 |
| Net assets without donor restrictions | $681,591,357 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,661,209,313 |