Title: Third Party Administrator License
Description: Minnesota Department of Commerce
Creation Date: 9/11/2008 2:18:01 PM
Modification Date: 9/11/2019 1:13:54 PM
Agency Name: Commerce, Minnesota Department of
Agency URL: https://mn.gov/commerce/
Agency Description: The Minnesota Department of Commerce is the chief regulator for the banking, energy, insurance, real estate, securities, telecommunications industries and also operates Minnesota's Unclaimed Property.
Agency Phone: 651-539-1600
Agency Fax: Agency URL: https://mn.gov/commerce/
85 7th Place East, Suite 500
Unit Phone: Unit Fax: Contact person(s):
The Third Party Administrator Unit licenses third party administrators as defined by Minn. Stat. § 60A.23, Subd. 8. Licenses are granted when the Commissioner of Commerce is satisfied that the administrator is capable of providing TPA services, is financially solvent and (if applicable) is able to process claims in a prompt and equitable manner.
See Minn. Stat. § 60A.23, Subd. 8 and Minn. Rules 2767
License Reporting Requirements (Minn. Rules 2767)
Subp. 3 Report compliance.Each licensee shall file or ensure that the clients it services file all required reports relating to those services which the administrator provides within the times established by statute, rule, or order of the commissioner. Required reports include an annual activity report, filed within 60 days of the end of the calendar year, stating:
- the name and address of clients administered by the licensee in Minnesota during the previous calendar year;
- the area and type of service provided to each plan;
- the starting and/or termination date each client was serviced;
- the total number and total amount of claims paid and loss payments disbursed on behalf of each client; and
- the reserves established for each client.
The annual activity report should be filed on the Excel spreadsheet form. The spreadsheet should be emailed to: firstname.lastname@example.org
Tuan Tran, Self-Insurance Analyst
Minnesota Department of Commerce
Must be completed when applying for a TPA license when an applicant uses the financial statements of a parent or other related entity to meet the financial requirements. The guarantee must be accompanied by a resolution by the guarantor's board of directors authorizing the guarantee.
$1,500 every three years.
Period of Issuance:
Normally three years.
Length of Determination:
License Detail URL:
Third Party Administrator
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