Minnesota Department of Commerce Certifies The Better Health Collective
The Collective is the third entity of its kind to earn the distinction
The Better Health Collective is the most-recent certified self-insurance pool in the state. The Minnesota Department of Commerce awarded The Better Health Collective a Certificate of Authority and Compliance the end of June.
In plain language, the certification is a stamp of approval from the state, assuring current and future members The Collective has a sound financial model, follows best practices, and meets all state and federal requirements and laws.
The Collective is just one of three entities authorized by the state to serve as a political subdivision self-insurance pool.
“People are our number one priority and we work hard to provide public employers stable and high-quality group health insurance,” says Ryan Donovan, manager of insurance solutions. “It is validating to have the approval of Commerce. We invited the watchdog in, and the watchdog told us, ‘Good job’.”
The certification is good through September 2024. The Collective will complete an annual review to ensure compliance for years beyond that.
The Better Health Collective is a self-funded, government organization created under Minnesota Statutes Chapter 471 and Minnesota Rules Chapter 2785. It is managed by Sourcewell. The Collective serves public entities in Minnesota with group health insurance solutions.
Sourcewell is a self-sustaining government organization, partnering with education, government, and nonprofits to boost student and community success. Created in 1978 as one of Minnesota's nine service cooperatives, we offer training and shared services to our central-Minnesota members. Statewide, we manage a self-funded group health option for public agencies. Throughout the United States and Canada, we offer a cooperative purchasing program and technology solutions for K-12 schools. Sourcewell is driven by service and the ability to strategically reinvest in member communities.