A Third Party Administrator (TPA) is a person or organization that processes claims and performs other administrative services in accordance with a service contract, usually in the field of employee benefits. More specifically, a TPA is neither the insurer (provider) nor the insured (employees or plan participants), but handles the administration of the plan including processing, adjudication, and negotiation of claims, record-keeping, and maintenance of the plan. For more information on how a TPA can benefit your company, read about The Value of Outsourcing.
myCafeteriaPlan’s Third Party Administrative (TPA) Services
myCafeteriaPlan is a licensed TPA specializing in the following types of reimbursement plans:
- Cafeteria Plans, including Medical and Dependent Care Flexible Spending Accounts (FSAs), Premium Conversion Plans, and Premium Only Plans (POPs), governed by IRS Section 125
- Health Reimbursement Arrangements (HRAs) governed by IRS Section 105
- Health Savings Accounts (HSAs) governed by IRS Section 223
- Qualified Transportation Plans (QTPs) governed by IRS Section 132
As a third party administrator (TPA), we do NOT sell supplemental products and our administrative services are totally independent of what benefits, benefits carrier, or insurance broker relationship an employer group already has in place.
myCafeteriaPlan has been a third party administrator (TPA) since 1993 and we have broker partners all across the United States that utilize our administrative services to help strengthen their client relationships. Whether you have clients/prospects that are looking to implement a new plan, add debit card convenience, or they’re unhappy with their present provider – take a closer look at myCafeteriaPlan!
Find out how myCafeteriaPlan can give your client The Power of Options.