The third party administrator (TPA) is a vital part of the insurance industry. Third party administrators are responsible for processing claims from an insurance company that does not process its own claims for a variety of reasons. Third party administration can handle insurance claims for a number of different insurance types, including healthcare and retirement accounts.
If you are a third party administrator or want to find out more about what third party administrators do, resources that provide news and industry trends are the best place to start. You can also find specific third party administrator resources, such as retirement plan TPA information, through the following sources:
1. Magazines and journals for the insurance industry.
2. A forum or blog where third party administrators answer questions.
3. Organizations that provide additional industry information.
Join organizations to get info on third party administratorsThere are many organizations that cater to healthcare third party administrators, as well as TPAs throughout the insurance industry. Many organizations also offer newsletters you can subscribe to for more up-to-date information.
Read trade publications for healthcare and retirement administratorsTo dive deep into insurance and pension TPA news and trends, subscribe to trade publications that cover these issues exclusively. This gets you insider's information about what's new in administration, and how many businesses rely on this service to help process their insurance claims.
Connect with third party administrator experts onlineOnline resources can offer you a lot of solid information about third party administrators, but it can also give you the opportunity to talk with TPAs themselves or TPA experts who know the business inside and out. Resources like blogs and forums can connect you with professionals in real time.
- If you're in the market for a third party administrator, be sure to choose one that's familiar with your insurance needs. TPAs may specialize in putting together plans for small businesses, non-profits or organized labor.