Working with third party administrators of health insurance requires a background in banking, finance, accounting or private insurance. While experience and business skills will help advance a career in third party administration, a higher education credential is a good starting point for entry into work with a healthcare TPA.
Depending on your work area, either a bachelor of business or master of business administration degree is ideal for working with health insurance third party administrators. A more specific degree can be helpful for people with less experience, while those established in another type of investing or financial planning business may only need a more general educational background.
Begin your third party administrators of health insurance education and training with one of the following options:
- Get licensed in insurance to gain experience in the field.
- Earn a degree in banking or finance for a position with a healthcare TPA.
- Use an accounting degree and certification to work with third party health insurance.
Take courses towards an insurance license to join a health insurance TPAOne option for gaining the education and training you need in the third party health insurance field is to obtain an insurance license in your state. License requirements differ, and several license types are available for each state. Any insurance credential will contribute to your qualification to join a medical insurance TPA.
Work in third party health insurance with a banking or finance degreeMany people who work for a healthcare TPA have a background in banking or finance, which gives you the skills you need to determine third party benefits packages. Banking and finance degrees may be associate's, bachelor's or master's degrees and may be completed online or on campus, depending on the program.
Strayer University offers an online bachelor of business administration in banking or a master of business administration in finance, which are both useful education fields for a health insurance TPA. Capella University also has a fully online bachelor of science in business, with a concentration in finance.
Use an accounting degree for third party administrators of health insurance education and trainingMany other people in the third party health insurance business have backgrounds in accounting or are CPAs. While you can still benefit from the training you receive in an accounting degree without taking the CPA exam, becoming certified has extra benefits for higher level and higher paid work in insurance.
New England College has an online master of science degree in accounting, and Ellis University has a bachelor's and master's degree in professional accounting. Before joining a health insurance TPA, you may also want to use a program like Becker CPA Review to prepare for the CPA exam.
- Many people who work for health insurance third party administrators do not have advanced degrees in business or finance. With as little as an associate degree, it is possible to obtain the experience you need in the financial sector to work with a health insurance TPA, including experience working for a company that has a third party health insurance plan.