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.
Using a multi-platform approach to CDH and COBRA benefits administration can create a host of problems for third party benefits administrators. The following infographic highlights the negative impacts of a multi-platform approach and examines the benefits of a single solution.
The following infographic outlines the must-have features of benefits administration software for third party benefits administrators. If your solution doesn’t have all of these, it may be time to upgrade. To streamline your workflow and increase the bottom line, look for these features and capabilities.
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.