Teamsters Local 559 Health Services And Insurance Plan

Organization Overview

Teamsters Local 559 Health Services And Insurance Plan is located in Bloomfield, CT. The organization was established in 1956. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. As of 06/2021, Teamsters Local 559 Health Services And Insurance Plan employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Local 559 Health Services And Insurance Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 06/2021, Teamsters Local 559 Health Services And Insurance Plan generated $6.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $7.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

SELF-INSURED HEALTH BENEFIT PLAN

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDES INSURED AND SELF-INSURED MEDICAL, DEATH AND LIFEINSURANCE BENEFITS TO 1,055 MEMBERS AND THEIR DEPENDENTS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Morgan Stanley
Investment Consulting
$138,547
Anthem Blue Cross Blue Shield
Claim Repricing & Admin
$119,735
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$5,805,554
Investment income $414,340
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $6,219,894

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