Register Online - Add to Cart

Credits

Sponsored by Lorman Education
Product ID: 408563EAU
 
Credit & Course Provided by:

Evaluating Your Third-Party Administrator: Are You Getting What You're Paying For?

OnDemand Webinar (88 minutes)

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.

Authors

Ron E. Peck, Esq., The Phia Group, LLC Adam V. Russo, Esq., The Phia Group, LLC

Agenda

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