Virginia Premier Health Plan Inc
- Assets
- $750.0m
- Revenue
- $1.1b
- Investments
- $15.7m
- Employees
- 1
- Location
- Norfolk, VA
- Founding
- 08/2013
- Data as of
- 12/2020
- EIN
- 54-1760974
Organization Overview
Virginia Premier Health Plan Inc is located in Norfolk, VA. The organization was established in 2013. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), 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. Virginia Premier Health Plan Inc 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 12/2020, Virginia Premier Health Plan Inc generated $1.1b in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.1b during the year ending 12/2020. While expenses have increased by 1.4% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO ENSURE OUR MEMBERS RECEIVE THE HIGHEST QUALITY MEDICAL SERVICES. OUR GOAL IS TO IMPROVE THE HEALTH STATUS OF OUR MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VIRGINIA PREMIER MAINTAINS CONTRACTS WITH AREA PROVIDERS TO SUPPLY HEALTH CARE, DISEASE PREVENTION, AND HEALTH PROMOTION FOR INDIVIDUALS AND FAMILIES IN THE COMMUNITY IN AN EFFECTIVE, ACCESSIBLE AND AFFORDABLE MANNER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis A Matheis Director/president | OfficerTrustee | 15 | $829,366 |
Louis Patalano IV Secretary (through 9/25/2021) | Officer | 1 | $0 |
Jeff C Snyder Treasurer | Officer | 2 | $0 |
Robert A Broermann Director | Trustee | 1 | $0 |
Jordan R Asher MD Director | Trustee | 1 | $0 |
Patricia Darnley Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kaiser Permanente Lab Services | 12/30/21 | $151,285,523 |
Consumer Direct Care Network Self-directed Cares Services | 12/30/21 | $98,230,467 |
Vcu Health System Healthcare Provider | 12/30/21 | $62,305,341 |
Carilion Medical Center Healthcare Provider | 12/30/21 | $53,772,609 |
Rector And Visitors Of Univ Of Virginia Healthcare Provider | 12/30/21 | $61,292,398 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $668,657 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,831,763 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,137,976,965 |
| Statement of Expenses | |
|---|---|
| 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. | $187,307 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $226,056 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,464 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,700,347 |
| Advertising and promotion | $161,383 |
| Office expenses | $272,177 |
| Information technology | $917,722 |
| Royalties | $0 |
| Occupancy | $291,997 |
| Travel | $2,367 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $45,578 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,445,917 |
| Insurance | $57,065 |
| All other expenses | $0 |
| Total functional expenses | $1,119,551,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $41,173,392 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $229,064,784 |
| 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 | $9,154,664 |
| Investments—publicly traded securities | $413,121,836 |
| Investments—other securities | $15,738,671 |
| Investments—program-related | $0 |
| Intangible assets | $18,546,667 |
| Other assets | $4,058,010 |
| Total assets | $749,956,030 |
| Accounts payable and accrued expenses | $11,937,299 |
| Grants payable | $0 |
| Deferred revenue | $6,638 |
| 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 | $348,929,506 |
| Total liabilities | $360,873,443 |
| 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 |
| Total liabilities and net assets/fund balances | $389,082,587 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Delta Dental Of Tennessee Nashville, TN | $111,020,559 | $186,287,750 |
Delta Dental Of Kentucky Inc Louisville, KY | $125,956,305 | $163,900,825 |
Delta Dental Of North Carolina Raleigh, NC | $35,946,857 | $106,171,467 |
North Carolina Medical Society Employee Benefit Trust Raleigh, NC | $37,037,700 | $53,921,759 |
Florida Laborers Health Fund Goodlettsville, TN | $21,527,387 | $8,809,889 |
District Of Columbia Primary Care Association Washington, DC | $3,588,811 | $8,549,433 |
National Organization Of Life And Health Insurance Guaranty Assocs Herndon, VA | $20,054,477 | $6,345,188 |
Leap Frog Group Washington, DC | $7,897,278 | $6,979,738 |
West Tennessee Healthcare Foundation Jackson, TN | $50,344,324 | $8,274,920 |
Pqa Inc Alexandria, VA | $9,185,809 | $6,455,435 |
National Medical Fellowships Inc alexandria, VA | $7,616,684 | $5,946,697 |
National Automobile Dealers Association Health Benefit Plan Tysons, VA | $274,352 | $3,896,581 |