TPA, abbreviated as Third Party Administrator, is a person or a service provider that entitles to perform various administrative services. The services a TPA service provider offers can be anything from claim processing to record keeping, adjudication to health insurance of employees. Most of the TPA agencies operate independently. TPA agencies has a number of routine jobs to be administered. Some of the routine jobs are paying employee’s insurance premiums, processing and reimbursing medical claims, paying off administrative charges, paying off lawyers and advisors claims, processing tax returns and payments. It is also a sole duty of a TPA agency to make monthly financial report highlighting contributed and paid funds and calculating any deficit or surplus therein.
Let us now take a look at some of the employee oriented benefits of hiring a TPA service.
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TPAs are popularly known for offering personalized services to their clients and participants. Employees, as participants, get all listed benefits as per their employment contract and a TPA agency ensures that every employees should be treated in the same way.
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As an employee, you can expect timely reimbursement of your medical claims. Most of the TPA agencies are highly responsive to any employee oriented issues be it medical or legal. With a TPA agency at the back, you will never be disappointed about lack of employment benefits.
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TPA works in accordance with the employer’s interest. Therefore, all the legal compliances are bound to be more comprehensive and uniform. Employees face less legal hassles while claiming for certain medical benefits or applying for reimbursement. Legal complaint get solved quickly followed by faster settlements.
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A Third Party Administrator is always focussed on offering consolidated billing for employee’s insurance claims. All you medical insurance queries and claims are answered from one single window. This is a service that significantly makes it easy to claim for medical insurance whenever required.
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TPA keeps accurate records of benefits claimed by every single employee in a firm. Employees can easily get faster service due to a well-organized database duly kept separately by a TPA agency.
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TPA offers wallet-certificate card to the employees. This card features unique certificate number and employee’s contract number for east reimbursement for dental care claims. It is an electronic process and employees and enjoy cashless treatment benefits just by showing the card to the authorized dental clinics. Some TPA agencies also offer an additional direct prescription drug card with similar functionality for purchasing medicines.
For all the above mentioned benefits, a TPA agency attracts a special attention from the employers seeking specialized employment and health care support to their employees. It is not possible to take care of all the employees for a large scale organization that too in a personalized way. TPA is there for the survival in such situations. TPA agencies make sure that employees are benefited as per a company’s employment terms and conditions. On the other hand, employers can focus on the core business part without worrying about employee’s health care issues, insurance and other type of employee-centric legal issues.
