Sound Health & Wellness Trust

Overview
The Sound Health & Wellness Trust is a nonprofit organization established under the 501(c)(9) designation, functioning as a Voluntary Employees' Beneficiary Association (VEBA). The organization provides a range of health and welfare benefits to over 51,000 eligible participants and their dependents, offering life, sickness, and accident benefits among others.

History
Founded in 1960, Sound Health & Wellness Trust was created to address the health and wellness needs of union members and their families. It operates as a Taft-Hartley trust, which means it is jointly managed by labor unions and employers.

Services Provided
The Trust focuses on providing comprehensive health benefits through various programs designed to encourage healthy lifestyles. Key features include:

• Health and Wellness Programs: These programs are designed to help participants prevent illness, manage chronic conditions, and make informed healthcare decisions.

• Preferred Provider Organization (PPO): The Trust has PPO arrangements with Aetna, allowing participants to access a network of healthcare providers for medical services at discounted rates.

• Prescription Drug Benefits: The organization offers a therapeutically based prescription plan, facilitating affordable access to necessary medications.

• Case Management: Sound Health collaborates with Aetna to provide case management services to assist participants in navigating healthcare needs effectively.

Financial Overview
Based on the most recent financial data, the Trust reported revenues primarily from program services, amounting to approximately $289.7 million. The organization shows total assets of about $179 million against total liabilities of approximately $87.3 million. Notably, executive compensation and fundraising fees are recorded as zero, indicating a focus on maximizing benefits for participants[1][2][5].

Governance
The Trust is governed by a board of trustees comprised of representatives from both labor unions and employers. These trustees are responsible for overseeing operations and ensuring that the organization meets its mission of providing essential health and welfare benefits.

Conclusion
Sound Health & Wellness Trust plays a crucial role in supporting the health and wellness of its participants through a variety of programs and benefits. Its unique structure as a Taft-Hartley trust highlights the collaboration between unions and employers in addressing the healthcare needs of workers and their families. The Trust continues to evolve, aiming to adapt to the changing landscape of healthcare while fulfilling its commitment to its members.

[1] https://projects.propublica.org/nonprofits/organizations/916058475 [2] https://soundhealthwellness.com/ppo/about-us/ [3] https://soundhealthwellness.com/ppo/benefits/ [4] https://soundhealthwellness.com/ppo/forms-documents/faqs/ [5] https://www.guidestar.org/profile/91-6058475