Group Benefits Research And Sales Tools For Brokers And Consultants
whymetlife.com/broker /resources.asp
Low-cost web-based employee benefit administration software
www.stroudassoc.com
Help your company achieve more with TriNet's HR outsourcing services.
www.TriNet.com
Health, Vision, Dental and More Premier Benefits for Your Employees
www.advantec-hr.com
Hottest Benefits Job Board. Post your Resume or Job Today!
www.EmployeeBenefitsJobs.com
Employee benefit administration, SCA compliance, and HR consulting.
www.gsanational.com
For third party TPA and benefit administrators. Experienced.
www.CRSlicensing.com
Streamline Your Company’s Benefit Enrollment Process. Free Trial.
iEmployee.com
Web-based Software for Benefit and Health Plan Administration.
www.vitechinc.com
Third party administrator for: self-insured medical plans; Taft-Hartley health and retirement plans; student insurance; claims payment; and utilization review services.
www.adminserv.com
National third party administrator (TPAs) providing benefits management services for self-insured group health plans.
www.amerihealth-tpa.com
A third party administrator that focuses on designing and managing benefits programs.
www.benadmsys.com
Third party administrator(TPA) for corporate, self-funded health plans and other employee benefits.
www.bpatpa.com
Third-party administration of employee benefits for government, corporate and Taft-Hartely organizations.
www.cserisa.com
Third party administrator (TPA) for employee benefit plans.
www.eebenefitplans.com
Provides third party administrators with electronic interface to NSCC and negotiated revenue sharing contracts with mutual fund families.
www.gailweiss.com
Automate and manage stock option and purchase plans with comprehensive reporting capabilities and compliance required reports for FAS 123R and Sarbox.
www.solium.com(Paid)
Offers managed care, fee-for- service and third party administrator dental plans to companies and individuals in New York and New Jersey.
www.healthplex.com
Third party administration (TPA) and consulting firm. Services include multi-line claims administration, risk management and safety engineering.
www.hsli.com
Third party administrator offering customized risk management services.
www.inservco.net
Third party administrator for corporate, self-funded group medical, dental, vision, and disability plans.
www.naai.com
Independent third party administrator (TPA) and benefits consulting firm headquartered in Western Pennsylvania.
www.walker-benefits.com
Third party administrator for 401(k), profit sharing and flexible benefit plans.
www.wmmichaels.com
Group Benefits Research And Sales Tools For Brokers And Consultants
whymetlife.com/broker /resources.asp
Low-cost web-based employee benefit administration software
www.stroudassoc.com
Help your company achieve more with TriNet's HR outsourcing services.
www.TriNet.com
Guide to Third Party Benefits Administrators
Outsource benefit administration for general health plans, disability insurance and risk managementThird party benefits administrators offer support staff via claim representatives, online tools and employee kiosks. The claims adjuster understands the legal specificity of the insurer and processes claims for the employer. Hence, the relationship is akin to a Certified Public Account or attorney on retainer; the consequence of decisions made on behalf of the employer rest solely on the shoulder’s of the business.
Establishing a contract with third party benefits administrators hinges on a particular set of circumstances:
1. You need an average of 400 enrolled participants to achieve cost saving with 3rd party benefits administrators.
2. You must offer an employee benefit package that includes self-funded group health plan, disability insurance and/or pensions conducive to third party administration.
3. You'll need to set aside a dedicated budget to manage cash flow necessary to secure third party HR benefits administrators.
Action Steps
The best contacts and resources to help you get it done
Locate a reputable licensed TPA benefits provider
Consider making a list of licensed 3rd party benefits providers. Using a third party admin without it is risky.
I recommend:
Goliath, a provider of business knowledge on demand, offers a host of business resources including an additional directory of business journals, a newsletter and online courses. Wolcott & Associates is an industry leader in benefits consulting and auditing services and will perform audits on TPA companies under consideration for a fee. For a small business solution, in-house 3rd party benefits administration RepayMe hosts reimbursement plan software with real-time debit card option.
Request a comprehensive proposal
Ask for a written proposal before signing a contract with a third party benefits administrator. Assess provisions to cover costs, use of employee friendly process systems and efficient benefits administration services.
I recommend:
Health Care Administrators Association (HCAA) has a TPA university that holds conferences on issue relevant to 3rd party benefits administration. iEmployee has a free product demonstration available for online benefits enrollment.
Require TPA financial history, claim audit report and licensing documentation
Confirm financial stability and tested administration reliability. The business of a third party benefits administrator can be lucrative; some businesses have fallen prey to unscrupulous providers.
I recommend:
Gallagher Benefits Services, Inc. provides a webinar on benefit services and group health plans. HRXCEL offers an informative presentation on benefits administration outsourcing solutions. CRS Licensing, LLC is a knowledgeable compliance and research servicing company with extensive experience.
Confirm the TPAs familiarity with governmental regulations and 3rd party administrative law
Consult industry experts in the field of risk management and general commercial liability. An important aspect of doing business with a third party benefits administrator is the legal consequences of outsourcing the work to a third party.
I recommend:
Victor O. Schinnerer & Company, Inc. provides interactive 24-hour insurance news update from Insurance Journal. AON specializes in risk management, reinsurance and human capital consulting.
Tips & Tactics
Helpful advice for making the most of this Guide- Inquire if the third party benefits administrator has submitted to a SAS-70 audit.
- Substantiate the period involved in paying claims, payment confirmation systems and utilization review services.
- Set up an informational presentation with 3rd party benefit provider's liaison. Obtain business references and contact existing and past clients for feedback.
