Nonprofit · EIN 13-3783732
HEALTHFIRST PHSP INC
Tax-exempt · NEW YORK, NY 10007
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $12,172,591,281 | $11,974,155,917 | $198,435,364 | $4,230,712,832 | $2,671,537,568 | $1,559,175,264 |
| December 31, 2023 | 990 | $12,085,677,439 | $11,924,402,575 | $161,274,864 | $4,369,670,653 | $3,040,215,990 | $1,329,454,663 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $12,020,085,036
- Investment income
- $152,506,245
- Net gain from sales of assets
- -$8,043,786
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Depreciation
- $306,008
- Program services (functional)
- $11,701,524,915
- Management and general (functional)
- $272,631,002
Balance sheet and other
- Total assets, start of year
- $4,369,670,653
- Total assets, end of year
- $4,230,712,832
- Total liabilities, end of year
- $2,671,537,568
- Net assets, end of year
- $1,559,175,264
- Publicly traded securities
- $2,148,090,316
- Net assets without donor restrictions
- $1,559,175,264
- Gross receipts
- $12,810,101,331
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1994
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| PATRICIA J WANG | PRESIDENT AND CEO Officer | 1 | $0 | $4,693,860 | $543,220 |
| JOHN J BERMEL | CHIEF FINANCIAL OFFICER Officer | 1 | $0 | $2,102,763 | $38,331 |
| GERALD T SWEENEY | SVP CHIEF INFORMATION OFFICER Highest-paid employee | 1 | $0 | $1,548,324 | $192,167 |
| SEAN KANE | CHIEF HR OFFICER Highest-paid employee | 1 | $0 | $1,387,832 | $169,197 |
| JAY A SCHECHTMAN | CHIEF MEDICAL OFFICER Trustee or director | 1 | $0 | $1,341,805 | $160,663 |
| KAREN WEINSEISS | SVP Operations Highest-paid employee | 1 | $0 | $1,235,464 | $160,573 |
| BARBARA MONTRESOR | SVP Comm & Marketing Highest-paid employee | 1 | $0 | $1,111,979 | $128,349 |
| ERROL PIERRE | SVP State Programs Trustee or director | 1 | $0 | $1,108,361 | $119,874 |
| JENNIFER COHEN | SVP MEDICARE Highest-paid employee | 1 | $0 | $1,073,864 | $151,526 |
| KATHRYN HOWELL | CLO and General Counsel Trustee or director, Officer | 1 | $0 | $960,748 | $105,385 |
| DEREK LAM | VP Delivery System Innovation Trustee or director | 1 | $0 | $425,852 | $37,422 |
| LINDA TIANO | CLO/SECRETARY ENDED 6/2023 Former | 0 | $0 | $453,850 | $0 |
| ROBERT P BLANCHARD | Treasurer Officer | 1 | $0 | $405,175 | $47,543 |
| STEPHEN ROSENTHAL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| David Evangelista | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| PATRICIA J WANG | PRESIDENT AND CEO Officer | 1 | $0 | $4,295,811 | $525,317 |
| JOHN J BERMEL | CHIEF FINANCIAL OFFICER Officer | 1 | $0 | $1,982,658 | $37,654 |
| GERALD T SWEENEY | SVP CHIEF INFORMATION OFFICER Highest-paid employee | 1 | $0 | $1,507,300 | $186,137 |
| LINDA TIANO | CLO/SECRETARY ENDING 6/2023 Trustee or director, Officer | 1 | $0 | $1,409,613 | $52,444 |
| SEAN KANE | CHIEF HR OFFICER Highest-paid employee | 1 | $0 | $1,261,928 | $164,050 |
| JAY A SCHECHTMAN | CHIEF MEDICAL OFFICER Trustee or director | 1 | $0 | $1,267,146 | $155,676 |
| STEVEN H BLACK | COO END 3/2022 Former | 0 | $0 | $1,235,794 | $0 |
| BARBARA MONTRESOR | SVP Comm & Marketing Highest-paid employee | 1 | $0 | $1,063,627 | $124,773 |
| KAREN WEINSEISS | SVP Operations Highest-paid employee | 1 | $0 | $1,015,298 | $155,758 |
| ERROL PIERRE | SVP State Programs Trustee or director | 1 | $0 | $940,045 | $117,095 |
| SHERYL MARKOWITZ | SVP Clinical Operations Highest-paid employee | 1 | $0 | $952,012 | $5,029 |
| ROBERT P BLANCHARD | Treasurer Officer | 1 | $0 | $358,793 | $47,075 |
| KATHRYN HOWELL | CLO/SECRETARY BEGINNING 7/2023 Trustee or director, Officer | 1 | $0 | $303,188 | $71,250 |
| DEREK LAM | VP DSI Beginning 7/2023 Trustee or director | 1 | $0 | $221,291 | $23,286 |
| STEPHEN ROSENTHAL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| David Evangelista | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 100 CHURCH ST FL 18, NEW YORK, NY 10007-2606
- In care of
- % CRAIG BARATTIN-VP/CONTROLLER
- Principal officer (990 for 2024)
- PATRICIA J WANG, 100 CHURCH ST FL 18, NEW YORK, NY 100072601
- Signed the 990
- JUDY KANG, CFO
- Phone
- (212) 801-6000
- Return prepared by
- ERNST & YOUNG LLP
Mission
TO IMPROVE THE HEALTH AND WELL-BEING OF UNDERSERVED POPULATIONS BY PROVIDING COMPREHENSIVE PREPAID HEALTHCARE COVERAGE TO MEDICAID, MANAGED LONG TERM CARE (MLTC), ESSENTIAL PLAN, HARP, QUALIFIED HEALTH PLAN AND CHILD HEALTH PLUS RECIPIENTS.
Program accomplishments
- MEDICAID MANAGED CARE: HEALTHFIRST PHSP, INC. (PHSP) IS A LICENSED PREPAID HEALTH SERVICES PLAN THAT PROVIDES COMPREHENSIVE PREPAID HEALTH CARE COVERAGE TO BENEFICIARIES OF GOVERNMENT HEALTH CARE COVERAGE PROGRAMS. PHSP HAS PARTICIPATED IN NEW YORK'S MEDICAID PROGRAM SINCE OCTOBER 1994. FOR 2024 THERE WERE 1,470,499 MEMBERS ENROLLED IN PHSP'S MEDICAID PLAN.Expenses $6,566,167,763 · revenue $6,709,752,345
- HEALTH AND RECOVERY PLAN (HARP): HEALTHFIRST PHSP, INC. (PHSP) IS A LICENSED PREPAID HEALTH SERVICES PLAN THAT PROVIDES COMPREHENSIVE PREPAID HEALTH CARE COVERAGE TO MEDICAID ELIGIBLE INDIVIDUALS THAT HAVE SERIOUS BEHAVIORAL HEALTH DIAGNOSES. THE HARP PROGRAM WAS INTRODUCED IN 2015 AND IS A MANAGED CARE PROGRAM WITHIN MEDICAID. FOR 2024 THERE WERE 38,017 MEMBERS ENROLLED IN PHSP'S HARP PROGRAM.Expenses $942,992,725 · revenue $974,020,229
- ESSENTIAL PLAN (EP): HEALTHFIRST PHSP, INC. (PHSP) IS A LICENSED PREPAID HEALTH SERVICES PLAN THAT PROVIDES COMPREHENSIVE PREPAID HEALTH CARE COVERAGE TO BENEFICIARIES OF GOVERNMENT HEALTH CARE COVERAGE PROGRAMS. EP IS A PROGRAM WHICH COVERS INDIVIDUALS WHO WOULD OTHERWISE BE ELIGIBLE FOR EITHER CERTAIN CATEGORIES OF EXPANDED MEDICAID COVERAGE OR SIGNIFICANT SUBSIDIES FOR QUALIFIED HEALTH PLAN (QHP) FOR LITTLE OR NO MEMBER CONTRIBUTION. FOR 2024 THERE WERE 554,466 MEMBERS ENROLLED IN PHSP'S EP PLAN.Expenses $2,910,238,763 · revenue $2,987,540,668
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 13-3783732
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1995
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Health care (E310)
- Assets (IRS master file)
- $4,230,712,832
- Income (IRS master file)
- $12,810,101,331
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $12,172,591,281 | $11,974,155,917 | $4,230,712,832 | IRS |
| 990 | December 2023 | $12,085,677,439 | $11,924,402,575 | $4,369,670,653 | XML |
| 990 | December 2022 | $11,273,526,910 | $11,216,726,379 | $3,335,789,304 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 13-3783732).
Questions about HEALTHFIRST PHSP INC
- What is the EIN of HEALTHFIRST PHSP INC?
- The employer identification number (EIN) of HEALTHFIRST PHSP INC is 13-3783732.
- Is HEALTHFIRST PHSP INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1995.
- Are donations to HEALTHFIRST PHSP INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does HEALTHFIRST PHSP INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of HEALTHFIRST PHSP INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did HEALTHFIRST PHSP INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of HEALTHFIRST PHSP INC?
- The 990 for the year ended December 31, 2024 names PATRICIA J WANG.
- Who are the officers and directors of HEALTHFIRST PHSP INC?
- The 990 for the year ended December 31, 2024 lists 15 people; 0 received compensation from the organization.
- How much revenue does HEALTHFIRST PHSP INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $12,172,591,281, expenses of $11,974,155,917 and total assets of $4,230,712,832 at year end.
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