HealthWell Foundation Announces 2023 Preliminary Results of Operations

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Apr 02, 2024, 10:00 ET

HealthWell's 2023 Year in Review Now Available

GERMANTOWN, Md., April 2, 2024 /PRNewswire/ -- The HealthWell Foundation^®, an independent non-profit charitable organization that provides financial assistance for underinsured Americans, announced today that they have published preliminary results of their 2023 operations and achieved the milestone of providing financial assistance through more than 1.5 million grants. Since awarding their first grant in 2004, the HealthWell Foundation has served as a financial lifeline to over 930,000 patients across more than 90 disease areas by providing over $4.1 billion in support to underinsured patients who would otherwise have forgone life-changing, often lifesaving, medical treatments simply because their health insurance was not enough.

HealthWell recently published its 2023 Year in Review illustrating its accomplishments and unwavering commitment to assist underinsured patients. Highlights from 2023 include:

Awarding over $1 billion in medication copayment and insurance premium assistance to more than 203,300 underinsured Americans through more than 217,700 grants.
Launching or re-opening 24 funds, including new funds to assist patients with Blepharitis, IgA Nephropathy, Systemic Sclerosis with Interstitial Lung Disease, and Type 2 Diabetes.
Actively operating 60 funds in various disease areas, including multiple funds in oncology, and our special initiative funds in behavioral health and pediatrics.
Receiving over $730 million (unaudited) in cash donations as a result of the generosity of our individual and corporate donors.
Continuing to achieve industry-leading operational efficiency of 2.8% operational overhead, while never using any donor dollars to pay administrative costs.

"2023 was a record year at HealthWell for most of our key metrics," said David L. Knowlton, HealthWell Foundation Board Chair. "Awarding over $1 billion in grant support to over 200,000 patients through the more than $730 million in donations we received are significant milestones. We are humbled by the dedicated support of our individual and corporate donors whose continued generosity and trust allow us to continue to carry out our mission to reduce financial barriers to care for underinsured patients with chronic or life-altering diseases. We thank our donors for their collective trust to allow us to fill a life-changing, often lifesaving, need for those who have nowhere else to turn."

The full version of our 2023 Year in Review can be viewed here. To learn more about HealthWell programs and our robust portfolio of disease funds, visit HealthWellFoundation.org.

About the HealthWell Foundation
A nationally recognized, independent non-profit organization founded in 2003 and a resource to the White House Cancer Moonshot Initiative, the HealthWell Foundation has served as a safety net across over 90 disease areas for more than 930,000 underinsured patients. Since its inception, HealthWell has provided over $4 billion in financial support through more than 1.5 million grants to access life-changing medical treatments patients otherwise would not be able to afford. HealthWell provides financial assistance to adults and children facing medical hardship resulting from gaps in their insurance that cause out-of-pocket medical expenses to escalate rapidly; HealthWell assists with the treatment-related cost-sharing obligations of these patients. HealthWell ranked 23rd on the 2023 Forbes list of America's Top 100 Charities and was recognized for its 100 percent fundraising efficiency. For more information, visit HealthWellFoundation.org.

CONTACT:
Ginny Dunn
240-632-5309
[email protected]

SOURCE HealthWell Foundation