Caresource Kentucky Co
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It owes more than it owns.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
CareSource Kentucky Co.'s mission is to make a lasting difference in our members' lives by improving their health and well-being. The organization's vision is to transform lives through innovative health and life services. (Continued on Schedule O)CareSource Kentucky Co. is a health maintenance organization licensed by the state of Kentucky and serves members through marketplace plans.
- Income
- $172.8 million
- Spending
- $205.7 million
- Spent on programs
- 89%
- Reserves
- -0.2 months of spending
- Largest source of income
- fees for its services, 99%
- Employees
- 0
- Volunteers
- 0
- Highest pay
- $12.2 million, chair/director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 25 out of 100. Higher than 2% of charities in its peer group (health care, over $100m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
0 of 20It owes 107% of what it owns.
Living within its means
0 of 15Spending exceeded income by 19% of income.
Income trend
10 of 15Income fell 8% on the year before.
Spending floor
15 of 1589% of spending went to programs.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 75 out of 100. Higher than 7% of charities in its peer group (health care, over $100m).
Independent board
5 of 250 of 3 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $183.9 million spent. CareSource Kentucky Co. ("CSKY") is a nonprofit organization established under the Commonwealth of Kentucky. CSKY was granted a Certificate of Authority by the Kentucky Department of Insurance ("KDOI"), allowing it to operate as a Health Maintenance Organization ("HMO"). On July 7, 2016, CSKY received a determination letter from the Internal Revenue Service, recognizing CSKY as an organization exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code, effective as of the date of CSKY's formation. CSKY is a member of the CareSource group of nonprofit tax-exempt organizations (the "CareSource Public Charities"). (Continued on Schedule O)The sole member of the CareSource Public Charities is CareSource, an Ohio nonprofit corporation that is tax-exempt under section 501(c)(3) of the Internal Revenue Code of 1986 (the "Code"). The CareSource Public Charities' primary activity for the last three decades has been to provide nonprofit Medicaid, Medicare, and Marketplace health maintenance organization ("HMO") services. As a mission-driven organization, CSKY follows the guidance of the CareSource Public Charities and is focused on transforming health care with innovative programs that address the social determinants of health, health equity, prevention and access to care. CSKY is accredited through the National Committee for Quality Assurance ("NCQA") for its Qualified Health Plan ("QHP"). Accreditation is the most comprehensive evaluation in the industry and the only assessment that bases results on clinical performance and consumer experience. CSKY Marketplace plans are available in 73 counties in Kentucky. There are no lifetime maximums for most benefits, no medical review for enrollment, and CSKY covers an extensive list of prescription drugs. Members enrolled in our Kentucky Marketplace plans have access to the following services: (1) $0 copay telehealth office visits via Teladoc with 24/7 access to U.S.-licensed physicians, (2) Ambulatory patient services (outpatient care), (3) Hospitalization, (4) Pregnancy, maternity and newborn care (both before and after birth), (5) Breastfeeding coverage, (6) Mental health and substance use disorder services, including behavioral health treatment (this includes counseling and psychotherapy), (7) Prescription drugs, (8) Rehabilitative and habilitative services and devices, (9) Laboratory services, (10) Preventive and wellness services and chronic disease management, (11) Pediatric services, and(12) Birth control coverage. CSKY focuses on prevention with a goal of improving Member health, the quality of health care services received, and accessibility of health care services for its Members. This is done through an innovative health and wellness methodology. CSKY has built a high-performing provider network to operate as an HMO. This provider network relies heavily upon Federally Qualified Health Centers ("FQHCs"). FQHCs are generally health care providers that have been recognized by the federal government as providing care to populations that have limited access to medical treatment due to conditions such as poverty and geographic location. CSKY's Qualified Health Plan on the Health Insurance Marketplace primarily serves low-income individuals and was designed for those low-income adults who are recently uninsured or have never been insured. The plan is affordable, with a majority of Members qualifying for subsidies to lower their monthly premiums or out-of-pocket costs. Members have the choice of buying plans with only the essential health benefits, or ones that also include adult dental, vision, and fitness supplemental benefits. Members can receive assistance through CSKY's many programs designed to remove barriers to health and well-being, and in addition, case management services are available to all Members who are at risk for substance use disorder. CSKY can, therefore, further its mission as a means of improving the health and well-being of Kentucky's low-income populations.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since July 2016.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.