Notes to SEFA
The accompanying schedule of expenditures of federal awards—(the “Schedule”) summarizes the expenditures of Excellus Health Plan, Inc. (the “Company”) under the State Children’s Health Insurance Program of the federal government for the year ended December 31, 2025. The information in this 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). Because the Schedule presents only a selected portion of the operations of the Company, it is not intended to and does not present the financial position, activities, and cash flows of the Company.
The Company’s Schedule has been prepared on the accrual basis of accounting. The Company did not elect to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance. The accounting practices that are prescribed or permitted under statutory authority which may vary from accounting principles generally accepted in the United States of America do not have a material impact on the accompanying schedule of expenditures of federal awards.
CHIP, authorized under Title XXI of the Social Security Act, assists states in providing health coverage to uninsured, low-income children. CHIP is jointly financed by the federal and state governments and administered by the states. In New York, CHIP funds are passed through to the Company by the New York State Department of Health under the Child Health Plus program. The federal portion is determined by the Enhanced Federal Medical Assistance Percentages by State. For purposes of the Schedule, federal awards consist of grants, contracts, and other assistance agreements awarded directly to the Company by federal agencies and departments.