Compass Cooperative Health Plan Inc
- Assets
- $3.8m
- Revenue
- $10.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Scottsdale, AZ
- Founding
- 03/2015
- Data as of
- 12/2017
- EIN
- 46-1509576
Organization Overview
Compass Cooperative Health Plan Inc, operating under the name Meritus Health Partners, is located in Scottsdale, AZ. The organization was established in 2015. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., under the broad grouping of Health Care and related organizations. As of 12/2017, Meritus Health Partners employed 6 individuals.
For the year ending 12/2017, Meritus Health Partners generated $10.1k in total revenue. All expenses for the organization totaled $1.2m during the year ending 12/2017.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
MERITUS IS ORGANIZED AS A HEALTH INSURANCE CO-OP PURSUANT TO SECTION 1322 OF THE AFFORDABLE CARE ACT AND PROVIDES HEALTH INSURANCE TO INDIVIDUALS AND SMALL GROUPS IN THE STATE OF ARIZONA BOTH ON AND OFF THE FEDERAL HEALTH INSURANCE EXCHANGE. IN THE YEAR 2016 MERITUS WAS PLACED IN RECEIVERSHIP BY THE ARIZONA DEPARTMENT OF INSURANCE AND DID NOT SELL ANY HEALTH INSURANCE COVERAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPANY WAS ORGANIZED AS A NONPROFIT HEALTH PLAN COOPERATIVE. THE AFFORDABLE CARE ACT ENABLED A NEW TYPE OF HEALTH INSURER CALLED A CONSUMER ORIENTED AND OPERATED PLAN, MORE COMMONLY KNOWN AS A CO-OP. CO-OPS, REGULATED BY EACH STATE'S DEPARTMENT OF INSURANCE, ARE DIRECTED BY THEIR CUSTOMERS AND DESIGNED TO OFFER INDIVIDUALS, FAMILIES AND SMALL BUSINESSES MORE AFFORDABLE, CONSUMER-FRIENDLY AND HIGH-QUALITY HEALTH INSURANCE OPTIONS. ON OR BEFORE DECEMBER 31, 2015 MERITUS SUSPENDED THE ISSUANCE OF NEW OR RENEWAL BUSINESS AND CANCELLED ALL EXISTING POLICIES. IN ADDITION, MERITUS WAS PLACES UNDER THE ARIZONA DEPARTMENT OF INSURANCE SUPERVISION AND SUBSEQUENTLY ON AUGUST 10, 2016 INTO LIQUIDATION BY THE MARICOPA COUNTY SUPERIOR COURT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeanice Cady Senior Accountant | 36 | $91,743 | |
Debra M Singpradith Manager Network Development | 36 | $96,641 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Care1st Tpa | 12/30/17 | $247,809 |
Lewis Roca Rothgerber Christie Legal Services | 12/30/17 | $137,795 |
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 | $0 |
| Investment income | $4,326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,748 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,074 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $211,643 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $60,828 |
| Payroll taxes | $18,708 |
| Fees for services: Management | $61,480 |
| Fees for services: Legal | $98,540 |
| Fees for services: Accounting | $2,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $236,219 |
| Advertising and promotion | $0 |
| Office expenses | $23,170 |
| Information technology | $83,359 |
| Royalties | $0 |
| Occupancy | $43,628 |
| Travel | $1,350 |
| 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 | $0 |
| Insurance | $13,926 |
| All other expenses | $0 |
| Total functional expenses | $1,186,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,807,411 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,037 |
| Total assets | $3,820,448 |
| Accounts payable and accrued expenses | $654,116 |
| 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 | $112,722,058 |
| Total liabilities | $113,376,174 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$109,555,726 |