Category Archives: Third Party Administration
A Third Party Administrator (TPA) is an organization that manages employee group benefit plans on behalf of an employer. A TPA can provide more cost-effective and flexible group insurance administration for small and mid-sized businesses than larger traditional insurance carriers can – in some cases saving as much as 20% (…) [Read Full Article]
Employers may want to make changes to their benefits plan for a variety of reasons. For example, they may be in search of more favourable pricing; in fact, a lot of advisors tell employers that they should “shop their benefits plan” every two to three years to attain the most (…) [Read Full Article]
Is your company’s benefits plan provided by a conventional group insurance carrier? For many small and mid-sized businesses, the plans offered by big insurance providers can be restricting – both in terms of budget and benefits available. You are typically offered a one-size-fits-all type of plan that can’t easily be (…) [Read Full Article]
What exactly does The Benefits Trust do? What is a Third Party Administrator (TPA)? How can a TPA like The Benefits Trust help business owners build the right employee benefits plan for their needs?
At The Benefits Trust we see employee benefits plans differently than the big impersonal providers do. A benefits plan is a commitment—a promise—made by an employer to their employees. We also believe that employers should have complete control over their benefits plans. A Third Party Administrator (TPA) works with your (…) [Read Full Article]
Historically, self-funded or administrative services only (ASO) contracts for group benefits have been the domain of “big business”. But smaller employers are demanding greater transparency and flexibility from benefits providers. Budgeted ASO plans are increasingly popular in response to these demands. The key pricing factors to consider when comparing benefits (…) [Read Full Article]