Course description
Evaluating Your Third-Party Administrator: Are You Getting What You're Paying For?
Avoid regulatory and other pitfalls while ensuring every aspect of a successful benefit plan is being handled.
Many employers – both private and municipal – offer benefit programs to their employees, focusing on maximizing the benefit offerings while minimizing the associated costs. To aid them in structuring and administering these programs, they secure the services of a third-party administrator. Such third-party administrators (TPAs) strive to deliver administrative services in accordance with their service agreements but also make efforts to avoid taking on a fiduciary role or offer guidance beyond that which they are contractually obligated to provide. Some fall short of even this benchmark, failing to deliver and exposing their clients (and themselves) to legal liability, whilst others go above and beyond – creating exceptional value for their clients.
This information will enable any and all entities responsible for identifying, selecting, and monitoring their TPA to track performance and assess results, as well as identify opportunities to create additional value in collaboration with their TPA. The material will explain how to avoid regulatory and other pitfalls while ensuring every aspect of a successful benefit plan is being handled.
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Who should attend?
This live webinar is designed for
- human resource managers
- benefits professionals
- presidents
- vice presidents
- business owners and managers
- controllers
- CFOs
- accountants and attorneys.
Training content
Introductions
- Speakers
- Industry Involvement
Third-Party Administrators
- Industries (Where Are TPAs Used?)
- Dynamic
- Affiliation
- Network
- Claims Process
- In-House vs. Subcontractors
- Industry Trends (Growth and Characteristics)
TPA Benefits
- Scenarios Where the TPA Added Value
- Data
- Types
- Uses
- Customization – the Good
TPA Pitfalls
- Recent Cases Involving Conflicts and Mistakes
- Issues for Which There Is No Recourse
- Alignment vs. Conflict With Stop-Loss
- Customization – the Bad
TPA Assessment and Monitoring
- Reviewing the ASA
- What to Look for
- Right to Audit
- Reports
- Type of Info TPAs Should Share
TPA Communication
- What a TPA Does
- What a TPA Does Not Do
- What the Client Needs to Communicate
Other Entities Involved
- Insurance
- Vendors
- Brokers
- Employer
- Employees
Certification / Credits
Learning Objectives
- You will be able to define the role of a third-party administrator versus the role of their client.
- You will be able to explain how to maximize the value of a TPA relationship while avoiding conflict and loss.
- You will be able to identify which TPAs are doing their job, which are failing, and which go above and beyond.
- You will be able to review TPA performance, and whether your benefit programs are in good hands.
Contact this provider
Lorman Education Services - Live and On-Demand Courses
Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...