Statements for northwest care hmo

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Reference no: EM133072033

Consider the following financial statements for Northwest Care HMO, a not-for-profit managed care plan:

Table A

Northwest Care HMO

Statement of Operations and Change in Net Assets

Year Ended June 30, 2020 (in thousands)

Revenue

 

Healthcare premiums

$ 27,893

Fees and other revenue

$1,723

Interest and other income

$323

Total revenues

$29,939

Expenses:

 

Healthcare costs

$16,152

General and administrative expenses

$8,936

Selling expenses

$7,230

Interest expense

$420

Total expenses

$32,738

Net income

$1,310

 

 

Net assets, beginning of year

$900

Net assets, end of year

$2,210

Table B

Northwest Care HMO

Balance Sheet

June 30, 2020 (in thousands)

Assets:

 

Cash and cash equivalents

$2,838

Net premiums and receivables

$920

Other current assets

$300

Total current assets

$4,058

Net property and equipment

$5,059

Total assets

$9,117

Liabilities and Net Assets:

 

Healthcare costs payable

$2,120

Accrued expenses

$824

Unearned premiums

$120

Current portion of long-term debt

$230

Total current liabilities

$3,294

Long-term debt

$4,230

Total liabilities

$7,524

Net assets (equity)

$2,210

Total liabilities and net assets

$9,734

Reference no: EM133072033

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