Delta Dental of Iowa

“The members of the corporation consist of the providers (participating dentists), and subscribers who are elected to the board.”

“The directors shall be elected by the members. Subscriber members may nominate candidates for subscriber director positions and provider members may nominate candidates for the provider director positions.”

“Prior to filing with the irs, the form 990 and related schedules are reviewed by the board of directors and members of the company's management team, including the ceo, compliance manager, and senior vice president finance. The management team reviews the form 990 prior to the presentation to the board.”

“The compliance director, on behalf of the governance committee conducts an annual conflict of interest review for compliance with federal and state law and the governance policy. The review includes all officers, directors, and key employees. Completed conflict of interest questionnaires and disclosures are compared to the group for potentially conflicting transactions, business and family relationships and affiliations. Annual compensation, reimbursements, benefit payments and other transactions are also reviewed for appropriateness. A written report of the findings is presented to the governance committee, board of directors and senior management. Solutions to potential conflicts are discussed and documented in the board of director's meeting minutes.”

“On a bi-annual basis delta dental of iowa does a market price and benchmarking comparison of the compensation of the leadership team and the staff. This analysis is performed by an independent third party. This analysis includes the use of data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. The documented results and recommendations of this analysis are presented to the board of directors. The board of directors reviews the documentation and approves the compensation. These decisions are documented in the minutes of the board of directors.”

“Delta dental of iowa's governing documents become a matter of public record when they are filed with the iowa secretary of state. The financial statements become a matter of public record when they are filed with the iowa insurance division. Both agencies have online public viewing access. The conflict of interest policy is notfiled with the state agencies; however, it would bemade available upon request.”

“Veratrus investments, llc is a for-profit corporation owned by veratrus health, inc. Veratrus investments, llc invests in organizations that further the mission of veratrus health, inc.”

“Delta dental of iowa's mission is to improve the health and smiles of those we serve. An amount is set aside each year to fund this mission. The amount is determined by the performance and financial strength of the company. After the audited financials are complete, an amount is paid to the delta dental of iowa foundation. The delta dental of iowa foundation is a sec. 501(c)(3) organization and is a type 1 supporting organization under sec. 509(a)(3). It is the responsibility of the foundation to distribute the monies consistent with its mission and founding documents. The mission of the delta dental of iowa foundation is to support and improve the oral health of iowans. The foundation will provide funds to other sec. 501(c)(3) organizations, governments, or academic institutions that are undertaking projects that support and improve the oral health of iowans. The foundation will provide funds to other tax-exempt organizations through their grants program that align with the projects of access to care, research, education and prevention. The amount contributed to the foundation in 2024 was $5,000,000 additionally, delta dental of iowa provides management services for the foundation. This includes duties performed by the chief executive officer and the senior vice president, finance. The executive director of the foundation is the director of government and community relations for delta dental of iowa. Also, delta dental of iowa provides some accounting functions. The foundation reimburses delta dental of iowa for all staff charges related to the foundation. The amount reimbursed to delta dental of iowa in 2024 was $560,235 for management fees and $35,138 for other expenses.”

“Veratrus benefit solutions, inc. Is a for-profit corporation and a wholly-owned subsidiary of veratrus health. Prior to 2017, it was a wholly owned subsidiary of delta dental of iowa. Veratrus was organized to distribute the delta vision product. Delta dental of iowa made no additional investments in paid in capital in veratrus in 2024. Delta dental of iowa collects premiums from groups for vision coverage and transfers this premium to veratrus. In 2024, delta dental of iowa transferred $12,165,251 to veratrus for premiums collected on their behalf. In addition, delta dental of iowa provides management services to veratrus. Veratrus reimburses delta dental of iowa for all staff charges related to veratrus. The amount reimbursed to delta dental of iowa in 2024 was $850,827 for management fees and $1,671,843 for other expenses. Delta dental of iowa also purchases vision benefits from veratrus for ddia employees. The amount paid to veratrus in 2024 for vision benefits for ddia employees was $43,485.”

“Veratrus health, inc. Is a for profit corporation formed in 2017 and is wholly-owned by delta dental of iowa. In 2017, delta dental of iowa transferred 100% of the ownership of veratrus benefit solutions to veratrus health, inc. Valued at $624,541.”