{"id":2298,"date":"2023-05-26T12:27:57","date_gmt":"2023-05-26T12:27:57","guid":{"rendered":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/?p=2298"},"modified":"2023-05-26T15:01:41","modified_gmt":"2023-05-26T15:01:41","slug":"more-funds-turning-to-tpas-for-full-administration-of-their-health-and-welfare-funds","status":"publish","type":"post","link":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/more-funds-turning-to-tpas-for-full-administration-of-their-health-and-welfare-funds\/","title":{"rendered":"More Funds Turning to TPAs for Full Administration of Their Health and Welfare Funds"},"content":{"rendered":"
For those with fiduciary responsibilities for a Health or Welfare Fund, there is a lot to be managed. First, there is the matter of compliance with federal and state laws and the associated tasks that must be performed correctly. Once fiduciaries understand the full breadth of what is required in the administration of these plans, many recognize that they are ill equipped to manage the function themselves. That is why many opt to outsource their funds\u2019 administration to a qualified, experienced third party administrator (TPA). <\/p>\n The range of tasks that a TPA performs in the administration of health and welfare funds typically include:<\/p>\n In addition to managing all these tasks with knowledgeable specialists experienced in health and welfare fund administration, a TPA is able to assist with compliance in various laws such as:<\/p>\n Regarding HIPAA compliance, the TPA will ensure funds are in compliance related to nondiscrimination, portability, privacy, and information security. HITECH compliance also focuses on privacy and information security. <\/p>\n When a TPA assumes the full administration of a health and welfare fund, there are other benefits to be gained besides alleviating the burden of this complex task and supporting compliance. The best TPAs are flexible and customize their services to the fund\u2019s specific needs. In addition, they use claims management systems that facilitate various pricing models which enable significant cost containment. Their support in offering cost-effective medical management programs that include telehealth and other online health platforms further help reduce medical costs, while promoting improved patient care and experiences. Their robust reporting further keeps fund fiduciaries fully informed which, in turn, provides peace of mind knowing that their funds are being diligently managed.<\/p>\n","protected":false},"excerpt":{"rendered":" For those with fiduciary responsibilities for a Health or Welfare Fund, there is a lot to be managed. First, there is the matter of compliance with federal and state laws and the associated tasks that must be performed correctly. Once fiduciaries understand the full breadth of what is required in the administration of these plans,… Read more »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/posts\/2298"}],"collection":[{"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/comments?post=2298"}],"version-history":[{"count":3,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/posts\/2298\/revisions"}],"predecessor-version":[{"id":2302,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/posts\/2298\/revisions\/2302"}],"wp:attachment":[{"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/media?parent=2298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/categories?post=2298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-employee-benefits-administrators\/wp-json\/wp\/v2\/tags?post=2298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/figure>\n
What\u2019s Required in Health and Welfare Fund Administration <\/h3>\n
\n
Compliance<\/h3>\n
\n
The Advantages of Using a TPA for Full Fund Administration<\/h3>\n