Notes to SEFA
Title: CHILDRENS HEALTH INSURANCE PROGRAM (CFDA 93.767)
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of MVP Health Plan, Inc. (the Company) and its subsidiary, Hudson Health Plan, Inc., and is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The State of New York, through the Department of Health (DOH), provides funding to the Company to provide and administer the Childrens Health Insurance Program (CHP) for uninsured children. The funding for the program is provided through the payment of monthly premiums for each eligible enrollee. The purpose of the Childrens Health Insurance Program is to provide funds to states to enable them to initiate and expand the provision of child health insurance to uninsured, low income families. The expenditures reported on the schedule represent the U.S. Department of Health and Human Services portion of the premiums received by the Company for each eligible enrollee, as shown below:Total CHP Premium Revenue per Annual Statewide Medicaid Managed CareOperations Report period ending December 31, 2022 $ 63,224,826Federal share 65%Total federal expenditures $ 41,096,137