Virginia Premier Health Plan Inc

Nonprofit profile at a glance

EIN
541760974
IRS 990 coverage
2012–2023
Forms available
Form 990 2023, Form 990-T 2020
Location
Virginia Beach, VA, USA
Phone
7574557020
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health, General and Financing

Official website

Reported finances

Revenue
$1,454,607,152
Expenses
$1,387,458,263
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • DENNIS A MATHEIS (DIRECTOR/PRESIDENT)

Highest reported compensation

  • DENNIS A MATHEIS (DIRECTOR/PRESIDENT): $4,455,531 total reported compensation
  • ROBERT A BROERMANN (DIRECTOR): $1,973,161 total reported compensation
  • JORDAN R ASHER MD (DIRECTOR): $1,604,361 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule ovirginia premier health plan is committed to ensuring our membersreceive the highest quality medical services from our physicians, hospitals, and other health care providers. Through operationalexcellence, our dedicated team promotes member-focused services, fosters strong provider relationships and shifts more of our financial resources to health care services. Our goal is to improve the health status of our membership. Guiding values and principles:- serve and support the Virginia medicaid and medicare eligible population.- meet the health care needs of our members.- empower our members through education and member-focused services.- support doctor/patient relationships by fostering strong provider relationships.- effectively integrate managed care administration and health care services.- abide by all ethical standards and demonstrate integrity and quality in all business practices.

What it reported doing in 2023

Virginia premier maintains contracts with area providers to supply health care, disease prevention, and health promotion for individuals and families in the community in an effective, accessible and affordable manner.

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: 84
  • Transparency & Controls: 43
  • Accountability: 59
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.7%; rating input score 93
  • Program expense ratio: 97.9%; 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: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 37.5%; rating input score 38; 11th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.6%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.1%; rating input score 93; 93rd percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 9.4% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 92.7% of revenue deployed · 97.9% of spending went to programs
  • Governance: 3 of 8 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4B in reported program spending
  • Leadership: top reported pay $4.5M · 20 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $529M reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity, executive pay, and related organizations
  • Filing history: 11 filing years from 2012 to 2023
  • Contacts: How to reach this organization
  • Related organizations: 69 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.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.