AUDITOR JAMES BROWN ANNOUNCES AGENCY APPROVAL OF THE BRIDGED HEALTH ALLIANCE TRUST AS THE FIRST SCHOOL DISTRICT HEALTH INSURANCE TRUST TO OPERATE PURSUANT TO HOUSE BILL 332 FROM THE 2023 LEGISLATURE

The following information was released by the Montana Commissioner of Securities and Insurance:

Montana State Auditor and Commissioner of Securities and Insurance James Brown today announced that Bridged Health Alliance has satisfied the Montana statutory requirements needed to operate a self-funded school health insurance trust in Montana.

The statutory framework for creating and approving a trust designed to provide insurance services to employees of Montana's school districts was enacted by the 2023 Montana Legislature. House Bill 332, sponsored primarily by Representative David Bedey of Ravalli County, set aside $40 million for a trust. However, the monies were and are conditioned on a trust satisfying several operating requirements, not the least of which are the following. First, the Trust had to certify that it had at least 150 represented school districts. Second, the Trust had to certify that the participating school districts employ at least 12,000 individuals. Auditor Brown determined that these, and the other statutory, criteria have been met.

The Auditor's approval comes after many months of deep review and thorough analysis conducted by the staff of the Auditor's Office. In his qualification letter, Auditor Brown stated that House Bill 332 "created a new paradigm for providing health insurance to educators and school district employees in Montana." "At a time when rising costs are hitting everyday Montanans from every direction, our educators now have expanded options for health insurance coverage," said Auditor James Brown.

With today's trust qualification, Superintendent of Schools Susie Hedalen is tasked with distributing the $40 million set aside by the Legislature in 2023 in 'incentive funding' to the Bridged Health Alliance Trust.

Superintendent of Public Instruction Susie Hedalen recognized Auditor Brown and his team for their hard work on evaluating the proposed trust and in reaching the operating milestone.

"I appreciate the work of Auditor Brown and his team in completing the review process and ensuring this Trust meets the requirements established in law," said Superintendent of Public Instruction Susie Hedalen. "Congratulations to Bridged Health Alliance on this approval. I am hopeful that this will meet our state goal of lowering health insurance costs for schools while expanding health benefits for educators! I look forward to working with the State Auditor, Bridged Health, and local school districts as this new option is implemented."

The trust is now ready for implementation, and school districts across Montana will have the opportunity to participate as the program rolls out. Auditor Brown's office will continue working with the Office of Public Instruction, school boards, and local leaders to support a smooth transition and provide technical assistance as districts explore joining the trust.