A new white paper released today by DataPath evaluates the evolution of computer technology and examines how current software solutions impact the work of third party administrators (TPAs). DataPath, a platform provider for consumer directed healthcare accounts, COBRA and billing administration, also highlights the importance of an all-inclusive approach to solutions development.
Here are some enrollment season tips for TPAs during the hectic open enrollment season. It’s open enrollment time. That means Third-Party Administrators (TPAs) are making their rounds, visiting their clients and setting up their plans before the start of the new plan year. We’ve put together some enrollment season tips for benefits administrators in order to help them make it through this stressful season. Enrollment Season Tips for Benefits Administrators Know Your Audience Each employer
View the infographic below to discover the value of consumer directed healthcare accounts. The graphic features an overview of HSAs, HRAs, and FSAs, along with other helpful information. What is a Consumer Directed Healthcare Account? A consumer-directed healthcare account is a type of medical savings account that: Three Types of CDH Accounts 1. Health Savings Account (HSA) An HSA is owned by the participant and acts like a regular bank account. Money deposited into the
DataPath has listened to the needs of TPAs everywhere to design an employee benefits administration platform that is everything they could ever need. From one simple, cloud-based platform, TPAs can now manage FSAs, HRAs, HSAs, Transit Accounts and Benefits Debit Cards from one simple centralized location.
As part of Notice 2015-7, the IRS issued guidance on Feb. 18 providing limited transition relief for certain premium reimbursement plans, including: Individual market premium reimbursement arrangements (PRAs), also known as employer payment plans as defined in Notice 2013-54; Medicare premium reimbursement arrangements; and, Reimbursement arrangements supplementing Tricare. The relief does not extend to stand-alone HRAs or other arrangements to reimburse employees for medical expenses other than insurance premiums, which remain prohibited as outlined in IRS Notice 2013-54.