Security Health Plan
Legal name: Security Health Plan of Wisconsin Inc
Nonprofit profile at a glance
- EIN
- 391572880
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Marshfield, WI, USA
- Phone
- (715) 389-4978
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,502,964,953
- Expenses
- $1,504,996,026
- Assets
- $393,639,553
- Liabilities
- $258,981,657
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- BRIAN HOERNEMAN MD (BOARD MEMBER/MCHS INTERIM CEO)
- KRISTA HOGLUND (SHP CEO)
Highest reported compensation
- BRIAN HOERNEMAN MD (BOARD MEMBER/MCHS INTERIM CEO): $1,623,181 total reported compensation
- JEANETTE WOJTALEWICZ (INTERIM MCHS CFO): $972,510 total reported compensation
- ELVIS PETER MD (SECRETARY): $860,440 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Security Health Plan of Wisconsin, Inc. is committed to helping members in Wisconsin and throughout the Midwest achieve their best health. Individuals and families Coverage options on and off the exchange are available to anyone purchasing coverage for themselves and family members. RightArrowCircle Small employer Your clients with 50 or fewer employees need the affordable coverage and extra support you can deliver with Security Health Plan. RightArrowCircle Level-funded Insite by Security Health Plan provides a level-funded plan option to those employers with 10-100 employees looking for the flexibility of a self-funded plan with the predictability and protection of a fully-insured plan. RightArrowCircle.
What it reported doing in 2024
Security health plan of Wisconsin, inc. (shp) provides a network for prepaid health care services to approximately 225,000 members. In 2024, 35% of shp enrollment was from employer groups and direct pay subscribers within the healthcare, manufacturing, government, and dairy industries; 31% from medicaid; 2% from medicare supplement; 32% was from medicare advantage. Shp also offers administrative services only contracts (aso) to self-insured groups. Shp offers community rating for medicare supplement members participating in the medicaid hmo. In addition, shp offers coverage to individuals and large and small groups, with portability upon leaving the group. Shp participates in medical research, education of our members, community education, cancer screening tests, and the medicare advantage program.
Operating model
- Revenue model
- Earned-program. 99% 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 program spending has grown recently. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 53
- Accountability: 55
- Sustainability: 28
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 95.8%; rating input score 96
- Program expense ratio: 96.7%; rating input score 97
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 21st 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: Scored; rating input score 0
- Grant itemization coverage: 96%; rating input score 96; 29th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 37.5%; rating input score 38; 11th 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: -0.1%; rating input score 26; 26th percentile among comparable filings
- Total-asset coverage ratio: 0.26; rating input score 8; 8th percentile among comparable filings
- Liabilities to assets ratio: 0.66; rating input score 24; 24th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 94; 94th percentile among comparable filings
Growth
- Program expense growth: 3% per year; rating input score 100; 22nd percentile among comparable filings
- Revenue growth: 3.3% per year; rating input score 100; 25th percentile among comparable filings
- Asset growth: 2.1% per year; rating input score 100; 15th percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site
- Where the money goes: 95.8% of revenue deployed · 96.7% of spending went to programs
- Governance: 3 of 8 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.5B in reported program spending
- Leadership: top reported pay $1.6M · 20 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $31.4M reported
- Consistency: 30 of 31 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes foreign activity, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 13 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.
- Moderate — Accountability: Independent voting board scored 38/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Operating margin scored 26/100.
- High — Sustainability: Total-asset coverage ratio scored 8/100.
- High — Sustainability: Liabilities to assets ratio scored 24/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.