HEALTH FIRST COMMERCIAL PLANS INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2017

Legal Domicile

Principal Officer

TERRY L FORDE

Phone

3214345150

Tax Period

2024-10-01 to 2024-12-31

HEALTH FIRST COMMERCIAL PLANS INC, founded in 2017, is a major nonprofit that reported $106.7M in total revenue in fiscal year 2024. Revenue fell 71% from the prior year — a significant decline worth monitoring. Expenses of $97.8M left a modest 8% surplus.

Mission

WE EXIST TO IMPROVE THE HEALTH AND WELLNESS OF THE COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $94,214,988 Revenue: $106,153,502

HEALTH FIRST COMMERCIAL PLANS, INC., DOING BUSINESS AS HEALTH FIRST HEALTH PLANS, OFFERS COMMERCIAL INDIVIDUAL & FAMILY PLANS WITHIN AN APPROVED SERVICE AREA CONSISTING OF BREVARD, HERNANDO...

HEALTH FIRST COMMERCIAL PLANS, INC., DOING BUSINESS AS HEALTH FIRST HEALTH PLANS, OFFERS COMMERCIAL INDIVIDUAL & FAMILY PLANS WITHIN AN APPROVED SERVICE AREA CONSISTING OF BREVARD, HERNANDO, HIGHLANDS, INDIAN RIVER, LAKE, MARION, POLK, PASCO, ORANGE, OSCEOLA, SUMTER, VOLUSIA, FLAGLER, AND SEMINOLE COUNTIES IN FLORIDA. COMMERCIAL PRODUCTS OFFERED ARE ON AND OFF THE FEDERAL EXCHANGE MARKETPLACE. HEALTH FIRST HEALTH PLANS IS UNDERWRITTEN BY THE HEALTH FIRST COMMERCIAL PLANS, INC. HEALTH FIRST HEALTH PLANS' PRIMARY BUSINESS IS THE PROVISION OF PREPAID HEALTHCARE SERVICES TO MEMBERS RESIDING IN ITS SERVICE AREAS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $106,153,502

Investment Income $553,520

Other Revenue $0

TOTAL REVENUE $106,707,022

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,289,651

Fundraising Expenses $0

Program Expenses $94,214,988

Other Expenses $94,473,489

TOTAL EXPENSES $97,763,140

Year-over-Year Comparison

	2024	2023	Change
Revenue	$106,707,022	$372,774,713	-0.7%
Expenses	$97,763,140	$367,951,182	-0.7%
Net Income	$8,943,882	$4,823,531	+0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$3,807,665

Total Directors

$1,070,971

Key Employees

$477,220

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW F GERRELL	SR VP CEO HEALTH PLANS	13.00	Officer Director	$0	$30,178	$1,031,733
DALE A DETTMER ESQ	DIRECTOR	1.00	Director	$0	$0	$15,268
ALAN L PRESTWOOD	DIRECTOR	1.00	Director	$0	$0	$5,470
KIM K PATRICK	DIRECTOR	1.00	Director	$0	$0	$18,500
NICHOLAS W ROMANELLO ESQ	SECRETARY	3.00	Officer	$0	$31,967	$1,042,107
TERRY L FORDE	PRESIDENT/CEO BEG. 8/5/202	3.00	Officer	$0	$7,976	$1,081,516
KRISTEN M PULIO	EXECUTIVE VP CFO BEG. 9/24	3.00	Officer	$0	$1,251	$215,159
ANDREW FINK	SR. VP COMMUNITY HEALTH SERVICES BEG 8/24	1.00	Officer	$0	$12,751	$437,150
JOSHUA P PULVER	VP CFO HFHP	12.00	Key Emp	$0	$33,136	$477,220
STEVEN P JOHNSON	FORMER CHAIR/PRESIDENT/CEO	0.00		$0	$3,102	$282,041
DREW A RECTOR	FORMER EVP CSO/VC	0.00		$0	$0	$322,036
MICHAEL A SCIALDONE	FORMER EVP/CFO HFI/SECR/TR	0.00		$0	$11,967	$473,129
BRETT A ESROCK	FRMR EXE VP CFO/COO TREASURER E	0.00		$0	$31,208	$1,267,396
FRANK S LETHERBY	FORMER SR. VP COMM HS /DIRECTO	0.00		$0	$26,059	$758,642
ROBERT K HENRY	FORMER DIRECTOR	0.00		$0	$0	$17,914
TAYLOR K SMITH	FRMR INTERIM CEO HFI END 8/24	0.00		$0	$0	$678,744

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$106,707,022	$97,763,140	$129,592,257	$8,943,882
2024	No data	No data	No data	No data
2023	$255,391,568	$245,380,620	$122,120,572	$10,010,948
2022	$229,587,621	$228,853,175	$115,166,357	$734,446
2021	$284,379,591	$275,573,523	$128,563,728	$8,806,068
2020	$254,051,476	$246,675,398	$110,571,636	$7,376,078
2019	$247,211,025	$244,558,496	$94,871,832	$2,652,529
2018	$193,634,280	$180,717,610	$96,921,866	$12,916,670