EmblemHealth
Legal name: Health Insurance Plan of Greater New York
Nonprofit profile at a glance
- EIN
- 131828429
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Aug 2026
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- Call us at the number on your member ID card (Mon–Fri 8 a.m.–6 p.m., unless othe
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Ambulatory Health Center, Community Clinic
Reported finances
- Revenue
- $4,710,482,271
- Expenses
- $4,743,722,251
- Assets
- $2,293,543,071
- Liabilities
- $1,902,068,999
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
29 people listed
Executive titles in this filing
- KAREN IGNAGNI (CHIEF EXECUTIVE OFFICER)
- MICHAEL PALMATEER (PRESIDENT)
- NAVARRA RODRIGUEZ (CEO/PRESIDENT, ACPNY)
Highest reported compensation
- KAREN IGNAGNI (CHIEF EXECUTIVE OFFICER): $5,320,093 total reported compensation
- MICHAEL PALMATEER (PRESIDENT): $3,280,766 total reported compensation
- HEATHER TAMBORINO (CHIEF FINANCIAL OFFICER): $2,603,164 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Hipgny/EmblemHealth champions communities and customers first, with a relentless focus on experiences that work for them. EmblemHealth is a leading not-for-profit health care organization whose companies provide insurance plans and primary and specialty care to communities across New York State. EmblemHealth started back in the 1930s, at the height of the Great Depression. Out of hard times, the idea of health insurance was born: a system that would protect everyday people from financial misfortune if they had an accident or illness. Two companies from those early days of health insurance, Group Health Incorporated (GHI) and Health Insurance Plan of Greater New York (HIP), would later merge and become EmblemHealth. Today, our mission is clear: to champion communities and customers first, with a relentless focus.
What it reported doing in 2024
Subscriber benefits - hipgny is a not-for-profit corporation that arranges for the provision of comprehensive medical and health care services for its subscribers/members (including health care services to medicare and medicaid members) which is an exempt function. In 2024, hipgny provided services (across all service lines) to approximately 244,000 members.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 80
- Transparency & Controls: 83
- Accountability: 75
- Sustainability: 28
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 90%; rating input score 90
- Program expense ratio: 89.7%; rating input score 90
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 17th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 68.9%; rating input score 69; 14th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 57.1%; rating input score 57; 15th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -0.7%; rating input score 23; 23rd percentile among comparable filings
- Total-asset coverage ratio: 0.48; rating input score 18; 18th percentile among comparable filings
- Liabilities to assets ratio: 0.83; rating input score 16; 16th percentile among comparable filings
- Officer compensation ratio: 0.6%; rating input score 82; 82nd percentile among comparable filings
Growth
- Program expense growth: 0.1% per year; rating input score 100; 8th percentile among comparable filings
- Revenue growth: 0.4% per year; rating input score 100; 6th percentile among comparable filings
- Asset growth: 1.3% per year; rating input score 100; 11th percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 90% of revenue deployed · 89.7% of spending went to programs
- Governance: 4 of 7 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $4.3B in reported program spending
- Leadership: top reported pay $5.3M · 29 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $126.4M reported
- Consistency: 34 of 35 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 35 filed money-flow records
- Related organizations: 14 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Independent voting board scored 57/100.
- High — Sustainability: Operating margin scored 23/100.
- High — Sustainability: Total-asset coverage ratio scored 18/100.
- High — Sustainability: Liabilities to assets ratio scored 16/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.