Financials

Consolidated Balance Sheets

		2022		2021
Assets
Cash and cash equivalents	$	70,172,638	$	105,776,448
Investments		148,499,911		241,613,499
Receivables, net		269,484,830		268,936,246
Other assets		19,761,169		28,482,647
Total current assets		507,918,548		644,808,840
Property and equipment, net		32,569,545		43,112,620
Operating lease right of use asset		60,174,164		-
Restricted investments		85,430,666		81,090,502
Federal program receivable		4,351,851		1,203,330
Alternative investments		3,019,961		3,173,265
Goodwill, net		74,722,646		82,281,111
Intangible assets, net		182,648		934,400
Other long term assets		3,078,561		10,999,024
Total assets	$	771,448,590	$	867,603,092
Liabilities
Claims payable	$	268,834,314	$	232,215,552
Reserve for claims adjustment expenses		6,188,890		6,049,053
Premium deficiency reserves		18,013,000		50,456,000
Accounts payable and accrued expenses		76,660,102		107,140,608
Debt		-		1,023,650
Current portion of finance lease liabilities		236,537		159,871
Current portion of operating lease liabilities		12,463,880		-
Line of credit		50,000,000		53,300,000
Physicians' withholding		33,174,703		31,623,126
Premiums received in advance		2,581,062		5,034,187
Total current liabilities		468,152,488		487,002,047
Deferred rent and lease incentives		1,408,891		3,467,982
Federal program payable		9,517,155		5,069,761
Long term finance lease liabilities		406,295		225,009
Long term operating lease liabilities		48,250,146		-
Accrued long term incentive		309,055		107,771
Total liabilities		528,044,030		495,872,570
Net Assets
Net assets		243,404,560		371,730,522
Total net assets		243,404,560		371,730,522
Total liabilities and net assets	$	771,448,590	$	867,603,092