To TPA or not to TPA?
(Third Party Adminstrator)
Many of our clients may know about or even use the services of a TPA (Third Party Administrator). TPA’s are organizations that “re-package” group insurance products of insurers or claim payors (underwriters). By “re-packaging” we mean that they are treated as a master policyholder on behalf of their clients, and are responsible for maintaining records, coordinating and collecting premiums and even assisting with the underwriting/pricing for the underwriter. TPA’s operate on a few basic principles,
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The benefits of employee benefits
Cash is not enough today to recruit and retain top talent for your business. Providing an attractive compensation plan which includes an employee benefit plan and group retirement plan is just as important.
While the costs can be exorbitant and the choices overwhelming, you can and should find ways to build a benefits program that works for your company. Here's help.
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Collective Purchasing Plans – The new battleground
With healthcare inflation exceeding 15% annually and consolidation of the marketplace, employers are facing a difficult future in the pricing of their employee benefit plans. Traditionally, employers utilized a “marketing” approach to ensure that their employee benefit plan underwriter(s) maintained competitive pricing based on the risk associated with their policies. If a policyholder felt that a renewal rate adjustment was “uncompetitive”, they could have a broker prepare a request for quotation. Underwriters would respond with their offer for providing the coverage submitted, and the policyholder would determine whether the incumbent was fair or if a change of underwriter was required.
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