News

2023 Marcoms: Platinum and Gold

MarCom Awards Winner

The 2023 Marcom Awards have honored two recent direct mail campaigns promoting DataPath’s Business Process Outsourcing (BPO) services. “Our BPO services help TPAs get where they want to grow by offering reliable and consistent accuracy, efficiency, and cost-effectiveness,” says DataPath’s Chief Marketing Officer, Bo Armstrong. “Thanks in part to these direct mail campaigns, TPAs are finding out that they can take advantage of our BPO service regardless of which admin platform they use.” A third campaign,

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Open Enrollment Tips for TPAs

It’s open enrollment time. That means third-party administrators (TPAs) are working with clients to set up plans for the new year. We’ve compiled some tips and reminders for benefits administrators to help them through this stressful season. Tip #1: Know Your Audience Each employer group will be different, so tailor your presentation accordingly. Occupation, geographic location, and generational cohort may affect employees’ wants and needs. For example, Millennials, Gen Xers, and Baby Boomers may each

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Newer Benefits Options for 2024

Employer benefits have changed over the centuries to meet employees’ changing needs. While group healthcare is still standard, there are newer benefits that TPAs can offer in 2024 that may better serve the needs of both employers and employees. Health Reimbursement Arrangements Group Health Reimbursement Arrangements (HRAs) have been around for some time. The IRS first acknowledged them in 2002 to reimburse qualified healthcare costs. HRAs now include three additional types covering qualified insurance premiums and related

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HSA Expansion Bills Approved by Ways and Means

Americans would have more opportunities to save for and afford health care costs under legislation approved today by the House Ways and Means Committee. The Bipartisan HSA Improvement Act of 2023 and the HSA Modernization Act of 2023 would make health savings accounts (HSAs) more accessible and useful for patients and families. The legislation is now cleared for consideration by the full House of Representatives. Bipartisan HSA Improvement Act (H.R. 5688) HSA Modernization Act (H.R.

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Infographic: HSAs – A Growth Opportunity for TPAs

Since 2004, HSAs have skyrocketed in popularity. They are now the second most popular tax-advantaged account next to Flexible Spending Accounts (FSAs). As HSA-qualified high deductible health plans continue to grow, third party administrators have plenty of opportunity to jump into the market.

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TPAs Grow with Cards and Other Payment Solutions

More and more Americans use physical and virtual credit/debit cards and digital payment solutions instead of cash. Employees increasingly demand card-based methods to access their benefit funds, and employers naturally want their workers to be happy with their benefits. Growth-minded TPAs will offer card access as much as possible on current benefit programs and be open to other payment solutions as technology evolves and regulations permit. Why Offer Debit and Credit Cards? American employers can

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Benefits That Attract and Retain Gen Z

This is the last in a four-part series on building benefits packages to resonate with the diverse generations in today’s workforce. Today, we focus on effective strategies and engagement recommendations for Gen Z. Gen Z members are accustomed to an on-demand culture and rely heavily on the internet for news and consumer reviews. The digital age, climate change, financial challenges, and COVID-19 continue to influence this rapidly growing workplace cohort. The Generation Z Profile Born

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How Can Benefits Education Help TPAs Grow?

Roughly one-third of employees need help understanding their benefits in any given year. TPAs can increase benefits adoption and usage by providing a thorough, easy-to-understand benefits education – ideally, that continues year-round. Participants Need Benefits Education As society faces constant information overload, Ameritas has found several causes of the need for increased benefits education: Why is benefits education a TPA problem? TPAs are retained by brokers and employers to create valuable benefits programs in support of

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Benefits That Attract and Retain Millennials

This is the third in a four-part series on building benefits packages to resonate with the diverse generations in today’s workforce. Today, we focus on effective strategies and engagement recommendations for Millennials. Generation Y, more commonly called Millennials, were born between 1981 and 1996. Millennials experienced rapid technological changes and grew up in an era of Microsoft and Apple, a 24-hour news cycle, and the rise of social media. In their formative years, they witnessed

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