Local 493 Health Service And Insurance Plan

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 060689500 ✦ Uncasville, CT ✦ Designated as a 501(c)(9)

Overview

What is Local 493 Health Service And Insurance Plan?

Local 493 Health Service and Insurance Plan is a self-insured health benefit nonprofit organization located in Uncasville, Connecticut. With a minimal workforce of three individuals, they provide medical and life insurance coverage to a total of 1,057 members and their dependents. The organization is affiliated with Teamster Local 493 Union through a collective bargaining agreement, ensuring the covered members receive these essential benefits.


Is Local 493 Health Service And Insurance Plan legitimate?

Local 493 Health Service And Insurance Plan is a legitimate nonprofit organization registered as a 501(c)(9) entity. Local 493 Health Service And Insurance Plan submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are not tax deductible.

Here are some key statistics you may want to consider:

Executive Compensation: $14,700
Professional Fundraising Fees: $0
Other Salaries and Wages: $160,887

For more financial information, click here


What is the mission statement of Local 493 Health Service And Insurance Plan?
Who is the CEO of Local 493 Health Service And Insurance Plan?
What is the revenue of Local 493 Health Service And Insurance Plan?
Who are the executives of Local 493 Health Service And Insurance Plan and what are their salaries?
Where can I find the form 990 for Local 493 Health Service And Insurance Plan?

Mission Statement of Local 493 Health Service And Insurance Plan

Local 493 Health Service and Insurance Plan is a self-insured health benefit plan, dedicated to providing comprehensive medical and insurance coverage to its 1,057 members and their dependents. Established under a collective bargaining agreement negotiated by Teamster Local 493 Union, this organization prioritizes the health and wellbeing of its members by offering a range of insured and self-insured benefits.

In essence, Local 493 Health Service and Insurance Plan serves as a safety net for its members, ensuring they have access to essential medical coverage. By self-insuring, the organization retains control over the management of its health plan, enabling it to make decisions that best meet the unique needs of its membership. This structure also empowers the plan to customize benefits and adapt to the evolving healthcare landscape, ultimately providing superior value to its members.

The mission of Local 493 Health Service and Insurance Plan is clear: to provide self-insured health benefits to those individuals covered under the collective bargaining agreement between Teamster Local 493 Union. Through this commitment, the organization offers peace of mind and financial security to its members, allowing them to focus on their health and wellbeing, rather than worrying about the costs associated with medical care. By prioritizing the needs of its members, Local 493 Health Service and Insurance Plan stands as a trusted partner in their journey towards maintaining good health.

Impact

This information is meant to be a general summary of Local 493 Health Service And Insurance Plan. Please take the time to review official sources before making any decisions based upon the content provided here.




Thursday, August 15, 2024

Local 493 Health Service And Insurance Plan's impact lies in its provision of insured and self-insured medical, death, and life insurance benefits to 1,057 members and their dependents. By offering these vital services, the plan plays a crucial role in ensuring the health and well-being of its members and their families. Additionally, as a mutual benefit organization, Local 493 Health Service And Insurance Plan contributes to the stability and security of its members by providing essential health benefits negotiated through a collective bargaining agreement.





Financials

This financial information is from Propublica.

Revenue
Expenses
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $3,285,373
  • Program Service Revenue: $11,757,681
  • Gross Receipts: $17,507,831

    • Assets and Liabilities:
  • Total Assets: $62,748,886
  • Total Liabilities: $1,487,913
  • Net Assets: $61,260,973
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    EMPLOYER CONTRIBUTIONS

    Revenue

    $11,570,378

    SPECIAL RETIREE CONTRIBUTIONS

    Revenue

    $148,522

    COBRA CONTRIBUTIONS

    Revenue

    $38,781

    Organization Details

    Founding Year

    1954

    Principal Officer

    Bevan Sweet

    Main Address

    P O BOX 485, UNCASVILLE, CT, 06382

    NTEE Category

    Code: Y40 - Mutual benefit

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