HEALTH PLAN OF CAREOREGON INC

Financial Trends

Organization Details

HEALTH PLAN OF CAREOREGON INC, founded in 2005, is a major nonprofit in the Health Care sector that reported $318.6M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum.

Mission

TAX-EXEMPT PURPOSE AND MISSION OF HEALTH PLAN OF CAREOREGON HEALTH PLAN OF CAREOREGON IS A HEALTHCARE SERVICE CONTRACTOR INCORPORATED AND DOMICILED IN THE STATE OF OREGON, AND IS REGULATED BY THE STATE OF OREGON DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, DIVISION OF FINANCIAL REGULATION. WE CREATED CAREOREGON ADVANTAGE PLUS AS A SPECIAL NEEDS MEDICARE ADVANTAGE PRESCRIPTION DRUG PLAN (SNP PLAN) THAT IS ORGANIZED TO BENEFIT MEDICAID AND MEDICARE DUALLY ELIGIBLE MEMBERS IN SIX COUNTIES IN OREGON. WE PROVIDE MANAGED CARE SERVICES TO APPROXIMATELY 16,000 MEMBERS. WE PROVIDE HEALTH BENEFITS THROUGH OUR CONTRACTED NETWORK OF HOSPITALS, PARTICIPATING PHYSICIANS, AND OTHER HEALTHCARE ORGANIZATIONS AND OPERATE UNDER ANNUAL CONTRACTS WITH THE CENTERS FOR MEDICARE AND MEDICAID SERVICES (CMS), WHICH PAYS A RISK ADJUSTED RATE PER MEMBER. OUR SNP PLAN COORDINATES MEDICARE, OREGON HEALTH PLAN (MEDICAID) AND PRESCRIPTION DRUG BENEFITS THE CONVENIENCE OF OUR MEMBERS, PROVIDING MEDICAID BENEFITS PLUS ALL OF THE BENEFITS OF ORIGINAL MEDICARE WITH NO MONTHLY PREMIUM AND $0 COPAYS. CAREOREGON (THE PARENT) IS A MEDICAID MANAGED HEALTHCARE PLAN THAT PROVIDES HEALTHCARE SERVICES TO MEMBERS WHO ARE ENROLLED IN THE OREGON HEALTH PLAN, WHICH IS ADMINISTERED BY THE OREGON HEALTH AUTHORITY (OHA) OF THE STATE OF OREGON'S DEPARTMENT OF HUMAN SERVICES. THE PARENT IS A STATE OF OREGON CHARITABLE NONPROFIT PUBLIC BENEFIT CORPORATION ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES, INCLUDING, FOR SUCH PURPOSES, MAKING DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS. CAREOREGON'S MISSION IS TO INSPIRE AND PARTNER TO CREATE QUALITY AND EQUITY IN INDIVIDUAL AND COMMUNITY HEALTH. CAREOREGON PROVIDES MANAGED CARE SERVICES TO NEARLY 516,000 OREGON HEALTH PLAN (MEDICAID) MEMBERS. HEALTH PLAN OF CAREOREGON MAINTAINS A MANAGEMENT SERVICES AGREEMENT WITH THE PARENT. UNDER THE TERMS OF THIS MANAGEMENT SERVICES AGREEMENT, WE UTILIZE THE PARENT'S PERSONNEL, OFFICE SPACE, EQUIPMENT, COMPUTER SYSTEMS, SOFTWARE, AND OPERATING METHODOLOGIES TO MANAGE OUR BUSINESS.

Program Service Accomplishments

Financial Overview (2023)

Year-over-Year Comparison

Governance

Special Practices & Reported Activities

Compensation of Officers, Directors & Key Employees

Historical Data