The Affordable Care Act has impacted American lives for over a decade. How has it affected the Consumer-Directed Healthcare account market? Healthcare reform has been a topic of debate since the early 20th century. Many recent U.S. presidents have endeavored to reshape the American system in varying ways. The Affordable Care Act (ACA), which became … More >>
The COVID-19 pandemic has affected virtually every aspect of our lives. While the most prominent impact was an almost immediate quarantine and vast expansion of employees working from home, another significant consequence is how much the pandemic shook employees’ sense of security. Many businesses faced major revenue shortfalls and responded with cost-cutting measures, including layoffs … More >>
FEAR NOT: There’s Still Time for TPAs to Enter the Thriving HSA Market Health Savings Accounts (HSAs) have been around for 17 years and continue to exhibit long-term adoption growth. However, despite their popularity and ease of administration, many third-party administrators (TPAs) have been cautious about adding this account to their services menu. Even so, … More >>
During enrollment season, benefits administrators and employers look to build and deliver a benefits package that helps companies keep and attract top talent. While employees generally report they are happy with their employer’s benefits, statistics show that account adoption is often lacking. With a better understanding of their employer groups and proven educational approaches, TPAs … More >>
Flexible Compensation: More than Healthcare Adding Compensation Management Services Can Help TPAs Thrive in a Challenging Market Employer-sponsored benefits come in many different forms. Most commonly, benefit packages include health and life insurance coverage, paid time off, healthcare spending accounts, and retirement plans. However, there is another form of flexible compensation that is becoming steadily … More >>
Employers may be switching to HDHPs and HSAs, but there are still some barriers to employees embracing the change. A lack of understanding and confusion about cost shifting are among the factors in non-adoption. TPAs and brokers, as front line experts for consumer directed healthcare, have the tools and knowledge to deliver greater HSA adoption … More >>
Today’s healthcare consumers have more choice than ever when it comes to healthcare benefits. However, research suggests they are not utilizing those benefits as effectively as they could, in large part due to lack of knowledge and understanding about them. For third party administrators, understanding where the gaps exist and providing solutions to address them … More >>
With four distinct generations in the workplace, employers and benefits administrators find it challenging to build a benefits plan and education strategy that meets the needs of all age groups. Based on their personal experiences, each generation has its own expectations and preferred style of communication. To reach these groups, employers and communicators should develop … More >>
Healthcare benefits are complicated. Federal regulations are under constant scrutiny and frequently undergo revisions. Plan setup, account management, and compliance are just a few of the time-consuming demands that come with the job of benefits administration. While employers may think they should handle these detail-oriented duties with an in-house staff, outsourcing benefits administration to an … More >>
HRAs are a flexible tax-advantaged vehicle to help employers save money while delivering a strong benefits package for their workforce. The challenge for third party administrators is finding a benefits administration solution that enables them to attract and retain clients, deliver superior service, and create flexible and complex HRA plans without overbearing constraints from their solutions provider.
In the employer-sponsored benefits industry, leading providers of account management solutions offer partner marketing programs to help third party administrators (TPAs) operate their businesses, market their services, and educate target audiences about tax-advantaged benefit accounts. However, these programs can vary substantially from vendor to vendor. For the independent TPA, evaluating partner marketing programs often is … More >>
As new technologies emerge, TPAs who offer benefits administration such as CDH account and COBRA administration should continually evaluate their day-to-day business operations to reduce costs through greater efficiency.
Since 2005, the market for Health Savings Accounts (HSAs) and qualified high deductible health plans has been continuously growing, and so has the market for HSA management services. TPAs need a solution that can help them streamline benefits administration, including HSAs, to deliver an industry-leading customer experience.
Computer technology is continually evolving. The benefits administration platforms of years past are ill-equipped to meet the demands of 21st century users, and benefits administrators are looking for increased efficiency, better data integrity, and greater value from COBRA software vendors.
When considering an account-linked payment card for employer benefits, TPAs must find a solution that provides improved security, accountability, and flexibility for all parties involved in the transaction.