Benefits of Using a Third-Party Administrator for Insurance
For many companies, having their own Human Resources department is a must. The vast amount of forms, legalities and time committed to maintaining each employee can be daunting. For smaller companies, a member of management may have the HR function thrust upon them with little or no training.
Whether a large company with thousands of employees or a small company with just a few, one of the more difficult tasks is shopping for Employee Health Insurance. With so many insurance carriers offering a myriad of solutions including High Deductible plans, Health Savings Accounts and the variations included in each of those, your company can sink hopelessly in a morass of choices.
Third-Party Administrators (TPA) can cast a lifeline to those responsible for bringing quality healthcare plans into the company. Instead of attempting to digest and understand all the different insurance choices, a few sessions with a TPA can save everyone involved time, money and countless hours of frustration.
Yet TPA’s should provide a greater service than just selling you a health care plan. They should point the way toward wellness, aid in pain and symptom management, and be an informative partner to subscribers.
Your TPA should make health care access easier: Information at your fingertips should include a physician database that can provide you and your members with telephone numbers and e-mail addresses for doctors throughout the U.S.
Your TPAs should keep you up to date: We all want to be informed about the latest in health care and insurance news. Choose a TPA that has a progressive website, informative electronic newsletters and a contact channel to answer pertinent questions in a timely manner.
TPAs may provide interactive tools: TPA’s should be able to put you and your members in immediate touch with the most outstanding online tools that can quickly educate on symptoms, possible treatments and proactive prevention.
Third Party Administrators can ease the burden of selecting and maintaining the best insurance solutions for both your company and your employees but they can and should take their services so much further, both for you and your members.