WellSense Health Plan
Overview
Mission
WellSense Health Plan is a nonprofit health insurance company serving more than 700,000 members across Massachusetts and New Hampshire through Medicare, Individual and Family, and Medicaid plans. Founded more than 25 years ago as Boston Medical Center HealthNet Plan, we provide plans and services that work for our members, no matter their circumstances. Our deep community ties help us better serve our members We're committed to our communities and offer support for the challenges and demands of everyday life. This includes:.
What it reported doing in 2023
The corporation is organized and operates as a nonprofit corporation exclusively for the benefit of and to support boston medical center corporation and to provide access to effective, efficient medical care among low income, underserved, disabled, elderly and other vulnerable residents of the community.
Operating model
- Revenue model
- Earned-program. 99% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Member-benefit provider. The nonprofit used 92% of its reported program spending for member benefits.
Nonprofit profile at a glance
- EIN
- 043373331
- IRS 990 coverage
- 2009–2023
- Website reviewed
- Jun 2026
- Forms available
- Form 990 2023
- Headquarters
- Charlestown, MA, USA
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Health
The verdict
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.
Rating breakdown
- Financial Efficiency: 98
- Transparency & Controls: 48
- Accountability: 85
- Sustainability: 37
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 97.1%; rating input score 97
- Program expense ratio: 99.7%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 9th percentile among comparable filings
- Pay-setting controls: 6 of 6 controls in place; rating input score 100
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: Scored; rating input score 0
- Major donor itemization: Limited
- Related-party transparency: No; rating input score 0
- Public monitoring controls: 0 of 8 controls in place; rating input score 0
- Public policy transparency: 2 of 7 controls in place; rating input score 29
- Public financial transparency: 0 of 5 controls in place; rating input score 0
- Impact reporting controls: 0 of 7 controls in place; rating input score 0
- Public relationship transparency: No; rating input score 0
Accountability
- Independent voting board: 91.7%; rating input score 92; 41st percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Public governance controls: 0 of 4 controls in place; rating input score 0
- Zakat policy transparency: Limited
Sustainability
- Operating margin: 1.1%; rating input score 41; 41st percentile among comparable filings
- Operating reserve ratio: 0.33; rating input score 11; 11th percentile among comparable filings
- Liabilities to assets ratio: 0.59; rating input score 30; 30th percentile among comparable filings
- Officer compensation ratio: 0.2%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: 11.8% per year; rating input score 100; 80th percentile among comparable filings
- Revenue growth: 10.3% per year; rating input score 100; 78th percentile among comparable filings
- Asset growth: 12.8% per year; rating input score 100; 80th percentile among comparable filings
Details
- What they do: 2 operating locations identified
- Where the money goes: 97.1% of revenue deployed · 99.7% of spending went to programs
- Governance: 11 of 12 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $5.1B in reported program spending
- Leadership: top reported pay $1.2M · 25 people listed · 6 of 6 pay-setting controls reported
- Consistency: 35 of 36 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes foreign activity and executive pay
- Filing history: 15 annual filings from 2009 to 2023
- Money network: 13 filed money-flow records
- Related organizations: 3 filed related-organization links