TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Inspection
Name of the organization
HNE of Connecticut Inc
Employer identification number
46-5190134
46-5190134
| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Section A, line 6 | As a Connecticut nonprofit organization, the company has no stockholders. The company has one legal member - Health New England, Inc. HNE of Connecticut refers to its enrollees as "members", but HNE of Connecticut's organizational documents and By-laws give enrollees no organizational membership status from a legal perspective. |
| Form 990, Part VI, Section A, line 7a | Health New England, Inc. is the sole member of HNE of Connecticut, Inc, while Baystate Health, Inc. is the sole member of Health New England, Inc. Consequently, Baystate Health has final authority on all appointments and elections to the HNE of Connecticut Inc. Board. |
| Form 990, Part VI, Section A, line 7b | The functions of a nominating committee are carried out by the Governance Committee of Baystate Health. In addition, the HNE of Connecticut Board of Directors has delegated to the Baystate Health Audit and Compliance Committee full audit oversight duties and responsibilities for the company. Findings of the Baystate Health Audit and Compliance committee are reported back to the HNE of Connecticut Board. This delegation allows HNE of Connecticut to have an audit committee with appropriate independence and expertise. |
| Form 990, Part VI, Section B, line 11b | Prior to the filing of this return appropriate parts of this Form 990 were reviewed by representatives from the Finance and Legal Departments of HNE of Connecticut, Inc, some of whom are officers of the filing organization. The entire return was reviewed by a tax expert from an outside accounting firm. The entire return was sent out to the Board of Directors and Officers of HNE of Connecticut, Inc. for comment and review. |
| Form 990, Part VI, Section B, line 12 | HNE of Connecticut, Inc. relies upon the comprehensive conflict of interest policy used by its parent, Health New England, Inc.. All directors, officers of the Company and its affiliates are asked to complete an annual "conflict of interest" form. We use an electronic database to receive and manage all conflict of interest submissions. This information is reviewed by the Director of Compliance and the Health New England Legal Department. Potential conflict of interest transactions are reviewed as appropriate under the policy, which provides for recusal from discussion and deliberation by any party with a potential conflict of interest. Form 990, Part VI, Section B Line 13 HNE of Connecticut, Inc. relies upon the comprehensive whistleblower policy used by its parent, Health New England, Inc.. Form 990 Part VI, Section B Line 14 HNE of Connecticut, Inc. relies upon the comprehensive documentation retention policy used by its parent, Health New England, Inc.. |
| Form 990, Part VI, Section C, line 19 | Available on request and at management's discretion. |
| Form 990 Part IX - Statement of Functional Expenses | Line 24 - Other Expenses Miscellaneous Expenses ($7,361) |
| Form 990, Part XI, line 9: | Change in Non Admitted Assets 220. |
| Form 990, Part XII, Line 1: | The audited financial statements are based on Insurance Statutory Accounting Principles (SAP) promulgated by the Accounting Practices and Procedures Task Force under the auspices of the National Association of Insurance Commissioners (NAIC). This form of accounting is typically looked upon as more conservative than accrual accounting without quite being cash basis. The accompanying statutory basis financial statements have been prepared in accordance with NAIC Statements of Statutory Accounting Principles (SSAP) and in accordance with Statutory Accounting Practices (SAP) prescribed by the State of Connecticut, which is a comprehensive basis of accounting other than U.S. Generally Accepted Accounting Principles (GAAP). Such practices vary from GAAP principally as follows: Investments - For statutory, investments in bonds are reported at amortized cost or fair value based on their NAIC rating. For GAAP purposes, such fixed maturity investments would be designated at purchase as held-to-maturity trading or available for sale. Held-to-maturity fixed investments would be reported at amortized cost and the remaining fixed maturity investments would be reported at fair value. For statutory purposes, unrealized gains and losses on investments are excluded from net income and reported as an increase or decrease in capital and surplus. Decreases in fair value that are determined by management to be other than temporary are reported as realized losses. The organization has elected the fair value option for certain of its investments. All single class and multi class mortgage backed/asset backed securities (e.g. CMOs) are adjusted for the effects of changes in prepayment assumptions on the related accretion of discount or amortization of premium of such securities using prospective method. If it is determined that a decline in fair value is other than temporary, the cost basis of the security is written down to the present value of estimated future cash flows using the original effective interest rate inherent in the security. Non admitted Assets - Certain assets are designated as non admitted. these assets (which are principally electronic data processing equipment, prepaid items, certain health receivables, receivables over 90 days past due and non-audited equity value of subsidiaries) are excluded from the accompanying statements of admitted assets, liabilities and capital and surplus. These items are charged directly to unassigned surplus. Under GAAP, such assets are included in the balance sheet, to the extent they are not impaired. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019
Additional Data
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