Healthfirst Phsp Inc

“Healthfirst, Inc. has the right to appoint the members of the Board of Directors of HEALTHFIRST.”

“Healthfirst, inc., a related not-for-profit organization, has the right to appoint the members of the board of directors of healthfirst phsp, inc. (phsp).”

“The amendment of the organization's governing documents is subject to the approval of healthfirst, inc. Some of the decisions of the governing body, should they occur, are subject to approval by state regulators: * distribution of the organization's net assets * certain changes to premium rates * expansion to other managed care businesses * specific types of changes to the organization's benefit plans * management fee rate changes [approval is also required from the management company]”

“The 990 is prepared by the hf management services, llc (hfms) corporate finance department staff and then reviewed by the hfms vice president, controller. Secondary reviews are also performed by the hfms chief legal officer and chief financial officer. The draft 990 is then reviewed by an independent accounting firm. The draft 990 is then presented to the board of directors for review. The final 990 is submitted after the board of directors reviews it.”

“A conflict of interest disclosure statement is completed annually by each board member, officer and key employee. A nominated board member who does not complete the statement within the calendar year will not be permitted to carry out duties. The same applies to an officer or key employee who does not complete the appropriate disclosures. Any disclosure of a conflict or potential conflict is reviewed by the chief compliance officer. Conflicts are addressed by examining the relationship of the individual to the organization and the nature of the disclosure. Guidance is provided to the necessary parties and action is taken, including but not limited to disclosure and recusal from decision-making, modifications to business agreements, changes in vendors or replacement of the director, officer or key employee with a non-conflicted individual.”

“Because the reporting organization did not compensate any officer or employee, the reporting organization has responded "no." however, the compensation of the ceo, other officers and key employees is determined by the compensation committee of hf management services, llc, the management company that provides all services to phsp (a related organization). The committee consists only of hfms member hospital executives (who are not employed nor compensated by hfms or any of its affiliates). The process for determining compensation is described in the committee's charter. The process includes engagement of an outside human resources consulting firm to conduct a comparability analysis. The analysis includes comparable ranges of executive compensation using the company's industry classification. The committee meets prior to implementation of any change in compensation. Contemporaneous minutes of each meeting are prepared.”

“A conflict of interest disclosure statement is completed annually by each board member, officer and key employee. A nominated board member who does not complete the statement within the calendar year will not be permitted to carry out duties. The same applies to an officer or key employee who does not complete the appropriate disclosures. Any disclosure of a conflict or potential conflict is reviewed by the chief compliance officer. Conflicts are addressed by examining the relationship of the individual to the organization and the nature of the disclosure. Guidance is provided to the necessary parties and action is taken, including but not limited to disclosure and recusal from decision-making, modifications to business agreements, changes in vendors or replacement of the director, officer or key employee with a non-conflicted individual.”

“MANAGED LONG TERM CARE (MLTC): SERVICES SUCH AS PERSONAL CARE, SOCIAL, NUTRITIONAL AND REHABILITATION SERVICES THAT'S PROVIDED TO FRAIL ELDERLY INDIVIDUALS RESIDING IN MANHATTAN, THE BRONX, BROOKLYN, QUEENS, STATEN ISLAND, NASSAU AND WESTCHESTER DURING 2024, ALLOWING THEM TO CONTINUE TO RESIDE SAFELY WITHIN THEIR COMMUNITY. Qualified Health Plans (QHP): In 2014, PHSP established a Qualified Health Plan ("QHP") under the Health Care Reform, which is certified by the New York State Health Insurance Marketplace ("Marketplace"). QHP provides essential health benefits, follows established limits on cost-sharing (deductible, copayment, and out-of-pocket maximum amounts), and must maintain compliance with other provisions of Health Care Reform. QHP is administered under an agreement between PHSP and the DOH that extends through December 31, 2024. CHILD HEALTH PLUS (CHP): THE ORGANIZATION IS A LICENSED PREPAID HEALTH SERVICES PLAN THAT PROVIDES COMPREHENSIVE PREPAID HEALTH CARE COVERAGE TO CHP RECIPIENTS PURSUANT TO ARTICLE 44 OF THE NEW YORK STATE PUBLIC HEALTH LAW. PHSP HAS PARTICIPATED IN NEW YORK'S CHP PROGRAM SINCE 1997. BASIC HEALTH PLANS (BHP): HEALTHFIRST PHSP, INC. (PHSP) IS A LICENSED PREPAID HEALTH SERVICES PLAN THAT PROVIDES STANDARD HEALTH PLAN COVERAGE TO ELIGIBLE INDIVIDUALS WHO WOULD NOT HAVE ACCESS TO COVERAGE THROUGH THE HEALTH INSURANCE MARKETPLACE. PHSP UNDERTOOK NEW YORK'S BHP PROGRAM AS OF 2015. FORM 990, PART VI, SECTION A, LINE 3 HEALTHFIRST PHSP, INC. (PHSP) CONTRACTS WITH HF MANAGEMENT SERVICES, LLC(HFMS) TO PROVIDE ALL OF ITS MANAGEMENT AND ADMINISTRATIVE SERVICES. PHSP DOES NOT MAINTAIN ITS OWN STAFF OR OFFICE SPACE; THESE ARE PROVIDED BY HFMS. HFMS CHARGES A PERCENT OF PREMIUM ON A PER MEMBER PER MONTH BASIS OR A FLAT FEE PER MEMBER PER MONTH. THE ARRANGEMENT IS APPROVED BY THE NY STATE DEPARTMENT OF HEALTH. ALL OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES WERE PAID BY, AND WORKED FOR HFMS, A MANAGEMENT COMPANY WHICH PROVIDES MANAGEMENT SERVICES FOR MULTIPLE ENTITIES. NONE OF THE INDIVIDUALS LISTED EARNED ANY COMPENSATION FROM PHSP. ALL OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES WERE PAID BY, AND WORKED FOR HFMS, A MANAGEMENT COMPANY WHICH PROVIDES MANAGEMENT SERVICES FOR MULTIPLE ENTITIES. NONE OF THE INDIVIDUALS LISTED EARNED ANY COMPENSATION FROM PHSP.”

“$13,783,707 unrealized gain related to equity investment was included in net income according to accounting standards update ("asu") 2016-01 in audited financial statement and for purposes of 990 this amount was reported and included in net unrealized gains (losses) on investments.”

“Other changes in net assets - equity gain in investment in healthfirst insurance co. Inc. - a 50% owned subsidiary: $1,774,448. Total other changes in net assets $1,774,448.”