BLUE CROSS BLUE SHIELD OF MASSACHUSETTS HMO BLUE INC Blue Inc
- Assets
- $3.1b
- Revenue
- $5.5b
- Investments
- $902.6m
- Employees
- 141
- Location
- Boston, MA
- Founding
- Data as of
- 12/2022
- EIN
- 04-3362283
Organization Overview
BLUE CROSS BLUE SHIELD OF MASSACHUSETTS HMO BLUE INC Blue Inc is located in Boston, MA. As of 12/2022, BLUE CROSS BLUE SHIELD OF MASSACHUSETTS HMO BLUE INC Blue Inc employed 141 individuals. BLUE CROSS BLUE SHIELD OF MASSACHUSETTS HMO BLUE INC Blue Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, BLUE CROSS BLUE SHIELD OF MASSACHUSETTS HMO BLUE INC Blue Inc generated $5.5b in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $5.3b during the year ending 12/2022. While expenses have increased by 2.7% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
IT IS A HEALTH MAINTENANCE ORGANIZATION THAT PROVIDES MEDICAL AND OTHER HEALTH BENEFITS TO MEMBERS THROUGH CONTRACTS WITH HOSPITALS, PHYSICIANS, NURSING HOMES, ETC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF HOSPITAL AND MEDICAL BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director, Evp & CFO | OfficerTrustee | 0 | $0 |
Name Not Listed Director, President & CEO | OfficerTrustee | 0 | $0 |
Name Not Listed General Counsel And Secretary | OfficerTrustee | 0 | $0 |
Name Not Listed Chair | OfficerTrustee | 0 | $0 |
Name Not Listed Director, SVP & COO | OfficerTrustee | 0 | $0 |
Name Not Listed Vice President & Asst. Clerk | Officer | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Perficient Inc It Consulting | 12/30/22 | $16,649,961 |
Cognizant Worldwide Limted It Consulting | 12/30/22 | $10,725,830 |
Alaris Technology Inc It Consulting | 12/30/22 | $1,274,087 |
Accenture Llp Business Consulting | 12/30/22 | $1,144,496 |
Ernst & Young Llp Audit & Consulting | 12/30/22 | $1,126,165 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,432,916,359 |
| Investment income | $77,738,640 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,955,699 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,527,610,698 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,744,634,046 |
| Compensation of current officers, directors, key employees. | $198,445 |
| Compensation of current officers, directors, key employees. | $198,445 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $143,210,955 |
| Pension plan accruals and contributions | $23,002,134 |
| Other employee benefits | $23,829,608 |
| Payroll taxes | $9,320,855 |
| Fees for services: Management | $851,099 |
| Fees for services: Legal | $1,334,356 |
| Fees for services: Accounting | $23,617,199 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $120,237,322 |
| Advertising and promotion | $4,320,475 |
| Office expenses | $5,544,741 |
| Information technology | $41,304,618 |
| Royalties | $0 |
| Occupancy | $10,509,375 |
| Travel | $822,600 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,538,421 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,325,549,852 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,568,105 |
| Savings and temporary cash investments | $164,402,574 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $148,021,449 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $84,687,045 |
| Investments—publicly traded securities | $1,731,589,220 |
| Investments—other securities | $902,606,726 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,786,376 |
| Total assets | $3,083,661,495 |
| Accounts payable and accrued expenses | $62,750,558 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $167,708,767 |
| Other liabilities | $712,685,773 |
| Total liabilities | $943,145,098 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,140,516,397 |
| Total liabilities and net assets/fund balances | $3,083,661,495 |