Strategies for Selecting the Right TPA
Why Organizations Use TPAs
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- Consumer-Driven/Tax-Favored Accounts
- HRA – Health Reimbursement Arrangements
- ICHRA – Individual Coverage Health Reimbursement Arrangement
- QSEHRA – Qualified Small Employer Health Reimbursement Arrangement
- EBHRA – Excepted Benefits Health Reimbursement Arrangement
- HSA Compatible Health Reimbursement Arrangements
- HSA -Health Savings Accounts
- FSA – Flexible Spending Accounts (Including HSA-Compatible FSAs)
- DCAP – Dependent Care Assistance Programs
- Commuter Benefits – Mass Transit and Parking
- HRA – Health Reimbursement Arrangements
- COBRA Administration
- FMLA Administration
- ERISA Plan Documents
- 5500 Preparation and Filing
- ACA Reporting (State and Federal Filings, 1094-B/1095-B and 1094-C/1095-C)
- ACA Consulting
- Pay or Play Strategies
- 226-J Assistance
- 5699 Assistance
- HR Consulting
- Human support from a single project to embedded on-site
- Payroll Processing
- Online Enrollment
- Consumer-Driven/Tax-Favored Accounts
Benefits of Selecting the Right TPA
Strategies for Selecting the Right TPA
- Understand the organization’s needs and priorities. Plans have different needs depending on the type, design, asset size, and number of participants. Knowing what an organization needs and setting priorities to meet those needs can go a long way toward finding a TPA. A suitable TPA will be able to provide answers to problems and solve issues quickly. Our service team sits together in Wayne, New Jersey, and is always eager to help.
- Determine whether a TPA can meet needs. TPAs offer various services, and they should be reviewed individually. By understanding a TPA’s services and how it administers them, an organization can determine whether the TPA will meet its needs. Each of gente’s services is available individually.
- Ensure legal compliance. The regulatory landscape is constantly changing, so organizations should consider how a TPA remains current on legal developments and how it can help with compliance. The right TPA should be able to guide an organization through its legal issues. gente provides the highest level of support in resolving difficult compliance issues, though employer’s counsel should always be involved.
- Compare candidates. An organization’s relationship with a TPA is based on reliability, so any potential TPA must be able to work effectively with their client. Organizations may review metrics of a TPA’s actual claim outcomes and know how fast it pays claims as well as its error rates. By comparing these metrics to other TPAs, organizations can select the right TPA for them. gente has been proudly serving employers for more than twenty years and has well-earned reputation for high-touch, responsive service.
- Check references. Organizations can ask a potential TPA about other clients of similar size and needs. Then, those clients can be contacted to discuss their experience working with the TPA. gente is happy to share references with prospective clients.
- Know costs. Organizations should be aware of all services offered by a TPA and know the costs of each. Understanding the terms of any agreement with a TPA, especially fees and expenses, is essential when choosing a TPA. gente’s costs are all-inclusive and fully transparent. There are no hidden fees for any of our services.
- Assess data security. TPAs should have safeguards in place to handle and protect clients’ data. Verifying a TPA’s security protocols and standards will help an organization determine whether the TPA is a good fit. gente keeps ahead of security threats with a number of protections to store and transmit data securely and prevent unauthorized access.