Overview
What is Massachusetts Bay Health Care Trust Fund?
Massachusetts Bay Health Care Trust Fund is a Massachusetts-based nonprofit organization that secures health insurance for the employees of Greater Lowell Regional School District, Minuteman Regional Vocational Technical School District, Nashoba Valley Technical High School District, and Whittier Regional Vocational Technical High School. Established in 1993, its primary mission is to negotiate competitive insurance rates with various healthcare providers and combine the administration of claims. By pooling resources and joining forces, this trust enables these local educational institutions to offer more affordable insurance coverage to their staff. The trust does not function as an insurance company but rather acts as a facilitator to secure better rates and manage claims for its member districts.
Is Massachusetts Bay Health Care Trust Fund legitimate?
Massachusetts Bay Health Care Trust Fund is a legitimate nonprofit organization registered as a 501(c)(9) entity. Massachusetts Bay Health Care Trust Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are not tax deductible.
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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Mission Statement of Massachusetts Bay Health Care Trust Fund
Massachusetts Bay Health Care Trust Fund, a nonprofit organization, was established in December 1993 to secure health insurance for the employees of local area technical school districts in Massachusetts. The Trust's primary mission is to negotiate competitive insurance rates with various providers, assess and collect member premiums, manage claims, and invest the Trust's deposits.
The Trust operates as a collective entity for Greater Lowell Regional School District, Minuteman Regional Vocational Technical School District, Nasheba Valley Technical High School District, and Whittier Regional Vocational Technical High School, enabling these districts to pool their resources and gain economies of scale. By doing so, the Trust aims to secure lower insurance rates for its members, ensuring access to affordable healthcare coverage for the employees.
The Trust's primary objective is not to function as an insurance company but rather to serve as an intermediary for the administration of claims and insurance procurement. By leveraging its collective bargaining power, the Trust effectively negotiates favorable insurance terms on behalf of its members, providing them with access to essential healthcare coverage at competitive prices.
Impact
This information is meant to be a general summary of Massachusetts Bay Health Care Trust Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
The Massachusetts Bay Health Care Trust Fund impacts the local area technical school districts by providing health insurance for their employees at costs eligible to larger groups. Established in December 1993, the Trust's objective is to lower insurance rates and combine the administration of claims for employees of Greater Lowell Regional School District, Minuteman Regional Vocational Technical School District, Nashoba Valley Technical High School District, and Whittier Regional Vocational Technical High School. By negotiating insurance rates, collecting member premiums, paying expenditures, and investing deposits, the Trust serves as a means of obtaining lower insurance rates and administering claims efficiently for its members.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
501 (C) (9) CONTRIBUTIONS
Revenue
$19,771,857
REINSURANCE PREMIUMS
Revenue
$458,059
Organization Details
Founding Year
1993
Phone
(781) 861-6500
Principal Officer
Michael Knight
Main Address
758 MARRETT ROAD, LEXINGTON, MA, 02421
NTEE Category
Code: Y40 - Mutual benefit
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