Security Health Plan Of Wisconsin Inc
- Assets
- $403.6m
- Revenue
- $1.4b
- Investments
- $228.4m
- Employees
- 0
- Location
- Marshfield, WI
- Founding
- 01/1989
- Data as of
- 12/2023
- EIN
- 39-1572880
Organization Overview
Security Health Plan Of Wisconsin Inc is located in Marshfield, WI. The organization was established in 1989. According to its NTEE Classification (E31) the organization is classified as: Group Health Practices, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Security Health Plan Of Wisconsin 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 12/2023, Security Health Plan Of Wisconsin Inc generated $1.4b in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $1.4b during the year ending 12/2023. While expenses have increased by 2.3% per year over the past 9 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.
Since 2016, Security Health Plan Of Wisconsin Inc has awarded 58 individual grants totaling $2,281,149. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SECURITY HEALTH PLAN'S MISSION IS TO ENRICH LIVES TO HELP CONSUMERS AND COMMUNITIES REACH THEIR BEST HEALTH BY ENSURING ACCESS TO AFFORDABLE AND HIGH QUALITY HEALTH INSURANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SECURITY HEALTH PLAN OF WISCONSIN, INC. (SHP) PROVIDES A NETWORK FOR PREPAID HEALTH CARE SERVICES TO APPROXIMATELY 227,000 MEMBERS. IN 2023, 32% OF SHP ENROLLMENT WAS FROM EMPLOYER GROUPS AND DIRECT PAY SUBSCRIBERS WITHIN THE HEALTHCARE, MANUFACTURING, GOVERNMENT, AND DAIRY INDUSTRIES; 35% FROM MEDICAID; 2% FROM MEDICARE SUPPLEMENT; 31% WAS FROM MEDICARE ADVANTAGE. SHP ALSO OFFERS ADMINISTRATIVE SERVICES ONLY CONTRACTS (ASO) TO SELF-INSURED GROUPS. SHP OFFERS COMMUNITY RATING FOR MEDICARE SUPPLEMENT MEMBERS PARTICIPATING IN THE MEDICAID HMO. IN ADDITION, SHP OFFERS COVERAGE TO INDIVIDUALS AND LARGE AND SMALL GROUPS, WITH PORTABILITY UPON LEAVING THE GROUP. SHP PARTICIPATES IN MEDICAL RESEARCH, EDUCATION OF OUR MEMBERS, COMMUNITY EDUCATION, CANCER SCREENING TESTS, AND THE MEDICARE ADVANTAGE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Turney MD Board Member/mchs CEO - Part Year | Trustee | 1 | $0 |
Elvis Peter MD Board Member | Trustee | 1 | $0 |
Brian Hoerneman MD Board Member/mchs Interim CEO | Trustee | 1 | $0 |
Samantha Klebe DO Board Member/mchs Cmo | Trustee | 1 | $0 |
Edward Fernandez MD Board Member - Part Year | Trustee | 1 | $0 |
Alpa Shah MD Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Evicore Healthcare Msi Llc Medical & Professional Services | 12/30/23 | $13,813,587 |
Navihealth Inc Medical Services | 12/30/23 | $5,685,776 |
United Medco Inc Pharmacy | 12/30/23 | $4,456,161 |
Insurance Center Sales Agency | 12/30/23 | $3,954,148 |
Aspirus Wausau Hospital Inc Medical Claims | 12/30/23 | $3,398,284 |
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 | $1,418,655,775 |
| Investment income | $15,375,908 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $131,873 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,438,516,604 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $45,425 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,266,910 |
| Compensation of current officers, directors, key employees. | $1,266,910 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,536,040 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,750,088 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $276,942 |
| Fees for services: Accounting | $380,915 |
| Fees for services: Lobbying | $80,810 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $639,993 |
| Fees for services: Other | $9,749,600 |
| Advertising and promotion | $4,341,801 |
| Office expenses | $2,559,904 |
| Information technology | $9,092,191 |
| Royalties | $0 |
| Occupancy | $531,608 |
| Travel | $1,567 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $241,868 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,179,498 |
| Insurance | $0 |
| All other expenses | $19,495,634 |
| Total functional expenses | $1,427,562,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $94,092,565 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $66,105,448 |
| 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 | $138,219 |
| Net Land, buildings, and equipment | $8,142,635 |
| Investments—publicly traded securities | $6,748,462 |
| Investments—other securities | $228,393,965 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $403,621,294 |
| Accounts payable and accrued expenses | $229,546,553 |
| Grants payable | $0 |
| Deferred revenue | $26,203,045 |
| 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 | $833,000 |
| Total liabilities | $256,582,598 |
| 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 | $147,038,696 |
| Total liabilities and net assets/fund balances | $403,621,294 |
Grants Awarded
Over the last fiscal year, Security Health Plan Of Wisconsin Inc has awarded $175,713 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MARATHON COUNTY SPECIAL EDUCATION PURPOSE: ABCS FOR HEALTHY COMMUNITIES | $135,000 |
DC EVEREST SCHOOL DISTRICT PURPOSE: FITNESS/WELLNESS PROGRAM | $30,750 |
UNIVERSITY OF WISCONSIN-STEVENS POINT PURPOSE: GENERAL SUPPORT | $9,963 |