Optima Health is a health finance organization based in Norfolk, VA that was founded in 1984. As of 2019 they had $2.3 billion in revenue and $792 million in assets.
Optima Health, based in Virginia provides a full suite of health insurance including consumer-driven, employee-owned and employer-sponsored health plans, individual and family health plans, employee assistance plans as well as Medicare and Medicaid pl...
Previous legal names or variations of their name include: Optima Health Plan.
EIN:
54-1283337
City:
State:
Metro:
Website:
Phone:
757-552-7401
Facebook:
Founded:
1984
Type:
501(c)(3)
NTEE:
Revenue:
$2,388,451,732
Assets:
$792,652,298
Employees:
5
Fiscal year end:
December
Program areas at Optima Health
Optima Health Plan maintains contracts with area providers to supply state of the art systems of Health care, disease prevention and Health promotion for individuals and families in the community in an effective, accessible and affordable manner.see also schedule o
Form 990s for Optima Health
| Fiscal year ending | Date received by IRS | Form | PDF link |
|---|
| 2018-12 | Dec 13, 2019 | 990 | View PDF |
| 2017-12 | Feb 21, 2019 | 990 | View PDF |
| 2016-12 | Dec 22, 2017 | 990 | View PDF |
| 2015-12 | Feb 23, 2017 | 990 | View PDF |
| 2014-12 | Nov 9, 2017 | 990 | View PDF |
| ...and eight more Form 990 PDFs |
Financials for Optima Health
| Field | 2017 | 2016 | % Change |
|---|
| Federated campaigns | $0 | $0 | |
| Membership dues | $0 | $0 | |
| Fundraising event contributions | $0 | $0 | |
| Related organizations | $0 | $0 | |
| Government grants (contributions) | $0 | $0 | |
| Normal grants, contributions, etc. | $0 | $950 | -100% |
| <em>Non-cash contributions included in above</em> | $0 | $0 | |
| Total grants, contributions, etc. | $0 | $950 | |
| Field | 2018 | 2017 | % Change |
|---|
| Total grants, contributions, etc. | $0 | $0 | |
| Program services | $2,379,431,710 | $1,495,224,605 | 59.1% |
| Investment income and dividends | $8,328,067 | $2,929,947 | 184.2% |
| Tax-exempt bond proceeds | $0 | $0 | |
| Royalty revenue | $0 | $0 | |
| Net rental income | $0 | $0 | |
| Net gain from sale of non-inventory assets | $691,955 | $1,068,689 | -35.3% |
| Net income from fundraising events | $0 | $0 | |
| Net income from gaming activities | $0 | $0 | |
| Net income from sales of inventory | $0 | $0 | |
| Miscellaneous revenues | $0 | $0 | |
| Total revenues | $2,388,451,732 | $1,499,223,241 | 59.3% |
| Field | 2018 | 2017 | % Change |
|---|
| Grants to govts. and orgs. in USA | $0 | $0 | |
| Grants to individuals in USA | $0 | $0 | |
| Grants to govts., orgs., and individuals outside USA | $0 | $0 | |
| Benefits paid to or for members | $0 | $0 | |
| Compensation of current officers, etc. | $3,398,497 | $4,161,603 | -18.3% |
| Compensation not included above, to disqualified persons | $0 | $0 | |
| Non-officer salaries and wages | $0 | $44,704,414 | -100% |
| Pension/retirement accruals and contributions | $0 | $2,150,881 | -100% |
| Other employee benefits | $0 | $5,545,565 | -100% |
| Payroll taxes | $0 | $2,856,899 | -100% |
| Management fees | $0 | $3,330,282 | -100% |
| Legal fees | $0 | $342,506 | -100% |
| Accounting fees | $0 | $637,295 | -100% |
| Lobbying fees | $0 | $0 | |
| Pro. fundraising fees | $0 | $0 | |
| Investment mgmt fees | $0 | $0 | |
| Other fee-for-service | $177,889,179 | $8,283,389 | 2047.5% |
| Advertising and promotion | $0 | $22,005,799 | -100% |
| Office expenses | $0 | $2,061,172 | -100% |
| Information tech. expenses | $0 | $6,418,468 | -100% |
| Royalty expenses | $0 | $0 | |
| Occupancy | $0 | $2,924,572 | -100% |
| Travel | $0 | $616,017 | -100% |
| Public official travel and entertainment | $0 | $0 | |
| Conferences, meetings, etc. | $0 | $43,746 | -100% |
| Interest | $3,157,123 | $193,436 | 1532.1% |
| Payments to affiliates | $0 | $0 | |
| Depreciation, amortization, etc. | $1,383,983 | $976,307 | 41.8% |
| Insurance | $0 | $832,354 | -100% |
| All other expenses | $2,062,834,213 | $1,375,271,817 | 50.0% |
| Total expenses | $2,248,662,995 | $1,483,356,522 | 51.6% |
| Field | 2018 | 2017 | % Change |
|---|
| Cash (non-interest-bearing) | $0 | $0 | |
| Savings, short-term investments, etc. | $138,448,246 | $112,183,630 | 23.4% |
| Pledges and grants receivable | $0 | $0 | |
| Accounts receivable | $272,075,366 | $163,794,186 | 66.1% |
| Loans receivable from officers, directors, etc. | $0 | $0 | |
| Loans receivable from other disqualified persons | $0 | $0 | |
| Notes and loans receivable | $0 | $0 | |
| Inventories for use | $0 | $0 | |
| Prepaid expenses and deferred charges | $8,566,727 | $6,974,602 | 22.8% |
| Buildings, equipment, etc. post-depreciation | $5,919,523 | $3,076,507 | 92.4% |
| Investments, publicly traded securities | $366,226,127 | $188,401,376 | 94.4% |
| Investments, other securities | $0 | $0 | |
| Investments, program-related | $0 | $0 | |
| Intangible assets | $0 | $0 | |
| Other assets | $1,416,309 | $4,875,666 | -71.0% |
| Total assets | $792,652,298 | $479,305,967 | 65.4% |
| Field | 2018 | 2017 | % Change |
|---|
| Accounts payable and accrued expenses | $37,894,088 | $435,984 | 8591.6% |
| Grants payable | $0 | $0 | |
| Deferred revenue | $8,439,457 | $11,687,274 | -27.8% |
| Tax-exempt bond liabilities | $0 | $0 | |
| Escrow or custodial account liability | $0 | $0 | |
| Loans payable to officers and disqualified persons | $0 | $0 | |
| Secured mortgages and notes payable to unrelated third parties | $0 | $0 | |
| Unsecured notes and loans payable to unrelated third parties | $0 | $0 | |
| Other liabilities | $425,567,293 | $220,168,603 | 93.3% |
| Total liabilities | $471,900,838 | $232,291,861 | 103.1% |
| Field | 2018 | 2017 | % Change |
|---|
| Unrestricted net assets | $0 | $0 | |
| Temporarily restricted net assets | $0 | $0 | |
| Permanently restricted net assets | $0 | $0 | |
Vendors for Optima Health
| Vendor | Services | Amount paid | Date |
|---|
| Mckesson Health Solutions | Information Technology Services | $1,177,909 | 2017-12-01 |
| ████ | Healthcare Solutions | $1,032,467 | 2017-12-01 |
| ███ ██████ ███ | Healthcare Solutions Software | $1,346,092 | 2017-12-01 |
| ██████ ███ █████ ████████████ ███████ | Construction | $1,165,967 | 2017-12-01 |
| ███████████ ████████ ███████ ███ | Healthcare Solutions Software | $732,981 | 2017-12-01 |
Personnel at Optima Health
| Name | Title | Compensation | Most recent data |
|---|
| Michael M Dudley | And President and Chief Executive Officer | $657,892 | Dec. 31, 2017 |
| Andy Hilbert | Senior Vice President and Chief Financial Officer | - | July 9, 2020 |
| ██████ █ █████████ | Senior Vice President and Chief Marketing Officer | $323,797 | Dec. 31, 2017 |
| ██████ █████ | Senior Vice President of Operations | - | July 9, 2020 |
| ████ ██ ██████████ | Senior Vice President for Marketing and Sales | $320,603 | July 9, 2020 |
| █████ ███████ | Senior Vice President of Government Programs | - | July 9, 2020 |
| █████ ██████████ | Senior Vice President of Network Management | - | July 9, 2020 |
| ███████ █ █████ | Medical Director | $200,715 | Dec. 31, 2017 |
| █████ █ █████ | Medical Director , Care Innovation | $204,884 | Dec. 31, 2017 |
| ██████ █ ██████ | Medical Director | $184,684 | Dec. 31, 2017 |
| ...and 10 more key personnel |
Peer health care financing and insurance organizations
| | Name | Type | Revenue | Location |
|---|
| 1 | CareSource | 501(c)(3) | $7.8 billion | Dayton, OH |
| 2 | Healthfirst PHSP | 501(c)(3) | $8.1 billion | New York, NY |
| 3 | Healthfirst Health Plan | 501(c)(4) | $2.6 billion | New York, NY |
| 4 | AbbVie Patient Assistance Foundation | 501(c)(3) | $1.0 billion | North Chicago, IL |
| 5 | Bristol-Myers Squibb Patient Assistance Foundation (BMSPAF) | 501(c)(3) | $1.0 billion | Lawrenceville, NJ |
| 6 | Novartis Patient Assistance Foundation (NPAF) | 501(c)(3) | $1.3 billion | East Hanover, NJ |
| 7 | Mercy Care Plan | 501(c)(3) | $2.3 billion | Phoenix, AZ |
| 8 | University Medical Center Corporation | 501(c)(3) | $685 million | Tucson, AZ |
| 9 | Health Share of Oregon | 501(c)(3) | $1.1 billion | Portland, OR |
| 10 | Healthfirst. | 501(c)(3) | $675 million | New York, NY |
| 11 | Mercy Maricopa Integrated Care | 501(c)(3) | $1.1 billion | Phoenix, AZ |
| 12 | MDWISE Excel | 501(c)(4) | $868 million | Indianapolis, IN |
| 13 | Florida Clinical Practice Association | 501(c)(3) | $667 million | Gainesville, FL |