HMO Minnesota
Nonprofit profile at a glance
- EIN
- 416173747
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Saint Paul, MN, USA
- Phone
- 6516629668
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $3,123,827,747
- Expenses
- $3,131,621,083
- Assets
- $1,432,430,455
- Liabilities
- $387,799,468
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- Mark Steffen (Vice President)
- Monica Engel (President CEO)
- Kelly Bengston (Vice President)
- May Vang (Vice President)
- Eric Hoag (Vice President)
- Christine Reiten (Vice President)
Highest reported compensation
- John Uribe (Treasurer): $1,628,403 total reported compensation
- Mark Steffen (Vice President): $1,254,243 total reported compensation
- Monica Engel (President CEO): $1,083,522 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
None formally approved by governing body, but see Part I Line 1, which is based on Articles of Incorporation.
What it reported doing in 2024
Blue Plus contracts with the Centers for Medicare Medicaid Services CMS and the Minnesota Department of Human Services DHS to offer a program that combines Medicare Advantage Special Needs Plans and state Medical Assistance coverage. Minnesota Senior Health Options MSHO provides coverage to beneficiaries age 65 and older who are eligible for DHS Medical Assistance and Medicare Parts A and B. This program serves 9,800 members. Our MSHO product, SecureBlue, has broad geographic reach, covering members in 62 counties. A hallmark of MSHO is the care coordination provided to members regardless of whether they reside in the community or in an institution. Special attention is paid to helping members remain in the community with appropriate services and support.
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Member-benefit provider. The nonprofit used 93% of its reported program spending for member benefits.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 60
- Accountability: 62
- Sustainability: 35
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 97.5%; rating input score 97
- Program expense ratio: 98.2%; rating input score 98
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 50%; rating input score 50; 13th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -0.2%; rating input score 26; 26th percentile among comparable filings
- Total-asset coverage ratio: 0.46; rating input score 16; 16th percentile among comparable filings
- Liabilities to assets ratio: 0.27; rating input score 59; 59th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 95; 95th percentile among comparable filings
Growth
- Program expense growth: 10.3% per year; rating input score 100; 75th percentile among comparable filings
- Revenue growth: 9.8% per year; rating input score 100; 76th percentile among comparable filings
- Asset growth: 8.2% per year; rating input score 100; 60th percentile among comparable filings
Details
- Where the money goes: 97.5% of revenue deployed · 98.2% of spending went to programs
- Governance: 4 of 8 board members independent · 7 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $3.1B in reported program spending
- Leadership: top reported pay $1.6M · 18 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $211.8M reported
- Consistency: 32 of 32 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 4 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.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Independent voting board scored 50/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Operating margin scored 26/100.
- High — Sustainability: Total-asset coverage ratio scored 16/100.
- Review — Sustainability: Liabilities to assets ratio scored 59/100.