What is a TPA or Third Party Benefits Administrator?
Third-Party Employee Benefits Administrators or TPA’s, are prominent players in the health care industry and have the expertise and capability to administer all or a portion of the claims process. They are normally contracted by a health insurer or self-insuring companies to administer services, including claims administration, premium collection, enrollment, and other administrative activities. A hospital or provider organization desiring to set up its own health plan will often outsource certain responsibilities to a third-party administrator.
Third-party employee benefits administrators are companies hired by insurers and self-insured employers to handle their workers’ compensation claims. TPA’s register with the state’s Department of Insurance and their activities are regulated by the Division of Insurance Regulation (DIR). It is the adjuster for the TPA who manages most of what happens on your workers’ compensation claim.
Most companies find a more suitable alternative is to use experienced Third Party Administration- TPA solutions, like HR Service and B3PA. We come with high levels of knowledge and skill, which can come only from years of expertise in the claim administration industry. Our qualified expert’s process claims more swiftly and more accurately than most companies’ internal claim departments can, and this makes us even more affordable in the long run.
