Always an intense and stressful time for brokers, TPAs, and employers alike, enrollment season for the 2023 plan year promises to be even more so. As COVID-19 gradually transitions from pandemic to endemic, its impact on Americans cannot be denied. By mid-2022, more than 90 million had contracted COVID-19, with over a million confirmed deaths. … More >>
There have been five additional pandemics recorded since the Spanish Flu infected 500 million people worldwide in 1918-1920. Even so, the SARS-CoV-2 coronavirus caught the world’s population off-guard. Americans in particular were unprepared for the immense impact that COVID-19 would have on their lives, their families, and their livelihoods. The pandemic caused dramatic changes to … More >>
American companies are looking for every possible advantage to recruit and retain top-quality employees in a dramatically changed workplace. Many are finding new value in Lifestyle Spending Accounts. Two years after the COVID-19 pandemic reached the U.S., life is gradually returning to some level of normal. The workplace, however, has changed immensely and, many believe, … More >>
The Affordable Care Act (ACA) became law in 2010 and is the most comprehensive reform since the 1960s. Despite many obstacles, the CDH account market has grown significantly as the ACA has evolved. Will such growth continue? And how can employers, brokers and TPAs take advantage of this growth?
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 >>
HSAs have been around for almost two decades and continue to exhibit long-term adoption growth. However, many TPAs have been cautious about adding this account to their services menu. How can TPAs capitalize on this expanding opportunity and enter this consistently growing market?
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, including misunderstandings and confusion about cost shifting. TPAs and brokers have the tools and knowledge to deliver greater HSA adoption for their clients. When they do, it’s a win for everyone.
Consumers have more choice than ever when it comes to healthcare benefits. However, research suggests they are not using those benefits as effectively as they could due to knowledge gaps. For TPAs, understanding where those gaps exist and providing solutions to address them is key to client satisfaction and business growth.
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.