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 expert third party administrator can be more cost effective and help deliver a better overall experience.
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.
Health Savings Accounts (HSAs) have been growing in popularity over the past decade. Due to healthcare reform and market demands, TPAs can benefit from a thriving HSA market. With employers placing an increased focus on high deductible health plans and HSAs, TPAs and benefits administrators need to know how to take advantage of this lucrative revenue stream.
As the Health Savings Account (HSA) market continues to surge, the time is right for TPAs and other companies to jump in and build additional revenue. TPAs need a simple and affordable administrative solution that provides their clients robust features, while also enabling them to boost their bottom line.
Self-administered Medicare Set-Aside Arrangements (MSAs) present a daunting challenge to both MSA recipients and third party vendors alike. Settlement recipients are faced with strict rules and regulations, detailed reporting and accountability, disbursement of funds, and more. Pharmacy benefit managers must find a way to offer added value through enhanced pharmacy discounts and a simple yet secure way for MSA … More >>
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.
The complications that stem from multiple parties being involved in insurance payment processing call for a solution that is flexible, efficient, and secure. Introduction The process of issuing payment from an insurer to a provider is fraught with complications and delays. Insurers commonly enlist the services of a third-party administrator (TPA) to manage the supporting documentation and distribute … More >>