Third Party Administrator & employee benefit plans
TPA is an asset for your company
Using a TPA is a way to outsource claims processing, which traditionally has been handled either by the organization providing the benefits or the insurance company.
Employers that self-insures their benefits (i.e., underwrites the risk) often outsource to a TPA. Some insurance companies use a TPA to manage claims processing, provider networks, utilization review, or membership functions. While some third-party administrators may operate as units of insurance companies, they are often independent.
Using a TPA can be a smart business decision whether you want expertise in particular areas or avoid the infrastructure costs of building an in-house capability.
This is why TPA are an external asset needed by organizations
After making the decision to use a TPA, spend the time to choose the one that has the resources to meet your needs, and that matches your service expectations. After all, the TPA will become the face of your company for claims, which means how they handle them and interact with your employees will be a reflection on your organization.
How do Third Party Administrators (TPA) work for your benefits?
Access to Top Insurance Companies
Third party administrators help you get access to the top insurance companies in the market, making it easy to place your benefit packages with the insurer best suited to your needs. Maximum Benefits will obtain quotes for your various benefits from the leading insurance companies. You can have confidence in the level of service and reputation of insurers working with Youna-IHS TPA.
Choose the Best Insurer for Each Benefit
If you offer group health, life, dental, short-term or long-term disability insurance, using a third-party administrator which allows companies to pick and choose the best insurer for each individual benefit. With easy access to the market, we can identify the best company that provides the “health benefit” for each insurance program, with only one enrollment form needed. You can also add additional benefits and cashless payment.
No Need to Re-Enroll Employees
Shopping for group insurance plans can be a daunting task when different companies require different application forms. Employers can become frazzled when it comes to getting all the various forms back from employees. However, with our health benefits, you only need one enrollment form for your employees, and there is no need to re-enroll when switching carriers. This is a huge time-saver for the employer, alleviating the burden of distributing, collecting and submitting all of the various forms.
Self-Funded Assistance with Stop-Loss Protection
We can help you to decide which benefits, if any, should be self-funded, and we can assist you with determining the appropriate health benefits for your employees. Traditionally, insurance companies consider premiums as a prepayment of future claims. However, sometimes companies would prefer to have better control over their funds.
Full Service Administration
Our TPA providing global health benefit coverage to over 35,000 businesses and 150,000 employees nationwide, with over 30 years of experience in administrative capabilities with local offices in Europe and Africa.
Employees are provided with personalized booklets that describe the insurance programs and the administrative benefits. Clients are assigned an account representative who works directly with them to resolve issues without being forwarded to a call center. In fact for us your health is our priority.
