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.
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.
Whitepaper: How To Revolutionize CDH Account and COBRA Administration with New, Seamless Technology for TPAs
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.