2025-11-13T12:19:47-05:00 2024-12-31 WithumSmithBrown PC 200 Jefferson Park Suite 400 WHIPPANY NJ 079811070 990 2024-01-01 262058361 ATLANTICARE HEALTH SYSTEM INC WELFARE BENEFITS TRUST % HAK J KIM ATLA 6095697031 2500 ENGLISH CREEK AVENUE EGG HARBOR TOWNSHIP NJ 08234 HAK J KIM CFO 6095697040 2025-11-11 true true Scott J Mariani P00642486 9738989494 2024 2025-03-06 01:10:19Z ATLANTICARE HEALTH SYSTEM INC 2500 ENGLISH CREEK AVE EGG HARBOR TWP NJ 08234 2822385 false X N/A X 2008 NJ THE PLAN PROVIDES VARIOUS HEALTH & WELFARE POSTRETIREMENT BENEFITS TO CERTAIN ATLANTICARE HEALTH SYSTEM & SUBS. RETIRED EMPLOYEES & COVERED DEPENDENTS, AS DEFINED IN THE PLAN. 1 1 0 0 0 0 0 0 375748 307151 753270 1706504 0 0 1129018 2013655 0 0 349409 274849 0 0 0 0 0 404130 445421 753539 720270 375479 1293385 16670732 17935820 0 0 16670732 17935820 X ATLANTICARE HEALTH SYSTEM, INC. AND SUBSIDIARIES AND AFFILIATES (THE "COMPANY") MAINTAIN THE GROUP HEALTH INSURANCE FOR EMPLOYEES OF ATLANTICARE HEALTH SYSTEM, INC. (THE "FORMER PLAN") TO PROVIDE WELFARE BENEFITS, INCLUDING MEDICAL, DENTAL, PRESCRIPTION, EMPLOYEE ASSISTANCE PLAN, VISION AND BUSINESS TRAVEL INSURANCE. THE FORMER PLAN PREVIOUSLY COVERED BOTH ELIGIBLE EMPLOYEES AND THEIR DEPENDENTS AND ELIGIBLE RETIREES AND THEIR DEPENDENTS. IN 2008, THE COMPANY ESTABLISHED A TRUST (THE "VEBA TRUST") FOR THE PURPOSE OF FUNDING CERTAIN WELFARE BENEFITS FOR ELIGIBLE RETIREES AND THEIR DEPENDENTS UNDER THE FORMER PLAN. EFFECTIVE JANUARY 1, 2011, THE BOARD OF TRUSTEES (THE "BOARD") OF THE COMPANY ESTABLISHED THIS PLAN TO PROVIDE RETIREE WELFARE BENEFITS PREVIOUSLY PROVIDED UNDER THE FORMER PLAN AND AMENDED THE FORMER PLAN TO PROVIDE THAT RETIREES AND THEIR DEPENDENTS ARE NO LONGER ELIGIBLE FOR BENEFITS UNDER THE FORMER PLAN. THE BOARD ALSO AMENDED THE VEBA TRUST TO BE USED EXCLUSIVELY TO FUND false false 720270 0 307151 EXPENSES INCURRED IN ORDER TO PROVIDE FUNDING FOR CERTAIN WELFARE BENEFITS FOR ELIGIBILE RETIREES AND THEIR DEPENDENTS UNDER THE GROUP HEALTH INSURANCE FOR EMPLOYEES OF ATLANTICARE HEALTH SYSTEM, INC. PLEASE ALSO REFER TO PART III, LINE 1 FOR THE ORGANIZATION'S FULL MISSION. 720270 false false false false false false false false false false false true false false true true false false false false false false false false false false false false false false false false false false false false false false false false true false false true 0 0 0 false false false false false false false false false false false false X 1 1 false true false false false false false true true false false true false false false false X HAK J KIM 6095697031 2500 ENGLISH CREEK AVE EGG HARBOR TWP NJ 08234 X ATLANTICARE HEALTH SYSTEM INC TRUSTEE 1.0 0.0 X 0 0 0 0 0 0 0 false false false 0 0 EMPLOYER CONTRIBUTIONS 900099 292639 292639 DRUG SUBSIDY 900099 12281 12281 EMPLOYEE CONTRIBUTIONS 900099 2231 2231 307151 735940 0 735940 0 0 0 0 0 1779294 808730 970564 970564 970564 0 0 0 0 0 0 0 0 0 0 2013655 307151 0 1706504 0 0 0 274849 274849 0 0 0 0 0 0 0 0 0 0 0 70499 70499 0 0 0 0 0 0 0 0 0 0 0 0 0 REIMBURSEMENTS 342620 342620 ADMINISTRATIVE FEES 32302 32302 720270 720270 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16670732 17903593 0 0 0 32227 16670732 17935820 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 16670732 17935820 0 0 16670732 17935820 16670732 17935820 1293385 -28297 X X false true X true false MUTUAL FUNDS; EQUITY 9144136 F MUTUAL FUNDS; FIXED INCOME 8759457 F 17903593 0 0 X 1985358 -28297 -28297 2013655 2013655 720270 720270 720270 SCHEDULE D, PART X AN INDEPENDENT CPA FIRM AUDITED THE FINANCIAL STATEMENTS OF THE ORGANIZATION FOR THE YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023; RESPECTIVELY, AND ISSUED AN AUDITED FINANCIAL STATEMENT. THE FIN 48 (ASC 740) FOOTNOTE BELOW IS FROM THE ORGANIZATION'S 2024 AUDITED FINANCIAL STATEMENTS: A FAVORABLE DETERMINATION LETTER DATED AUGUST 21, 2014 HAS BEEN RECEIVED FROM THE INTERNAL REVENUE SERVICE ("IRS") THAT THE PLAN AND THE RELATED TRUST QUALIFY UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (THE "IRC") AND THEREFORE ARE NOT SUBJECT TO TAX UNDER PRESENT INCOME TAX LAWS. AS THE PLAN HAS BEEN AMENDED SINCE RECEIVING THE DETERMINATION LETTER, THE PLAN ADMINISTRATOR BELIEVES THAT THE PLAN IS DESIGNED, AND IS CURRENTLY BEING OPERATED, IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC, AND, THEREFORE BELIEVES THAT THE PLAN IS QUALIFIED, AND THE RELATED TRUST IS TAX EXEMPT. Plan management is required to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. CORE FORM, PART VI, SECTION A; QUESTION 3 THE ORGANIZATION HAS RETAINED HORIZON BLUE CROSS BLUE SHIELD OF NEW JERSEY, ITS THIRD PARTY ADMINISTRATOR, TO MANAGE ITS DAY TO DAY AFFAIRS AND ACTIVITIES. CORE FORM, PART VI, SECTION B; QUESTION 11B THE ORGANIZATION'S FEDERAL FORM 990 WAS PROVIDED TO ITS BOARD MEMBER FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS"). ATLANTICARE HEALTH SYSTEM, INC., THE ORGANIZATION'S TRUSTEE AND PLAN SPONSOR, HAS ASSUMED THE RESPONSIBILITY TO OVERSEE AND COORDINATE THE FEDERAL FORM 990 PREPARATION, REVIEW AND FILING PROCESS. AS PART OF THE TAX RETURN PREPARATION PROCESS THE ORGANIZATION HIRED A PROFESSIONAL CERTIFIED PUBLIC ACCOUNTING ("CPA") FIRM WITH EXPERIENCE AND EXPERTISE IN BOTH HEALTHCARE AND NOT FOR-PROFIT TAX RETURN PREPARATION TO PREPARE THE FEDERAL FORM 990. THE CPA FIRM'S TAX PROFESSIONALS WORKED CLOSELY WITH ATLANTICARE HEALTH SYSTEM, INC.'S FINANCE PERSONNEL AND INTERNAL WORKING GROUP TO OBTAIN THE INFORMATION NEEDED IN ORDER TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE CPA FIRM PREPARED A DRAFT FEDERAL FORM 990 AND FURNISHED IT TO ATLANTICARE HEALTH SYSTEM, INC.'S FINANCE PERSONNEL AND INTERNAL WORKING GROUP FOR THEIR REVIEW. ATLANTICARE HEALTH SYSTEM, INC.'S FINANCE PERSONNEL AND INTERNAL WORKING GROUP REVIEWED THE DRAFT FEDERAL FORM 990 AND DISCUSSED QUESTIONS AND COMMENTS WITH THE CPA FIRM. REVISIONS WERE MADE TO THE DRAFT FEDERAL FORM 990 WHERE NECESSARY AND A FINAL DRAFT WAS FURNISHED BY THE CPA FIRM TO ATLANTICARE HEALTH SYSTEM, INC.'S FINANCE PERSONNEL AND INTERNAL WORKING GROUP FOR FINAL REVIEW AND APPROVAL PRIOR TO PROVIDING THE FEDERAL FORM 990 TO THE ORGANIZATION'S BOARD MEMBER AND FILING WITH THE IRS. CORE FORM, PART VI, SECTION C; QUESTION 19 THE ORGANIZATION'S FILED CERTIFICATE OF INCORPORATION AND ANY AMENDMENTS CAN BE OBTAINED AND REVIEWED THROUGH THE STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY. IN ADDITION, THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS AND FORM 5500, ANNUAL RETURN/REPORT OF EMPLOYEE BENEFIT PLAN, ARE AVAILABLE THROUGH THE STATE OF NEW JERSEY DEPARTMENT OF BANKING AND INSURANCE. CORE FORM, PART XI; QUESTION 2 AN INDEPENDENT CPA FIRM AUDITED THE FINANCIAL STATEMENTS OF THE ORGANIZATION FOR THE YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023; RESPECTIVELY. THE INDEPENDENT CPA FIRM ISSUED AN UNMODIFIED OPINION WITH RESPECT TO THE AUDITED FINANCIAL STATEMENTS. ATLANTICARE HEALTH SYSTEM, INC., THE ORGANIZATION'S TRUSTEE AND PLAN SPONSOR, HAS ASSUMED RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT AUDITOR. ATLANTICARE HEALTH SYSTEM INC 2500 ENGLISH CREEK AVE EGG HARBOR TWP NJ 08234 223265213 SUPPORT NJ 501(C)(3) 12A NA false false false false false false false false false false false false false false false false false false false true ATLANTICARE HEALTH SYSTEM INC S 292639 COST