Third Party Administrators

Third party administrators (also known as TPAs or health benefit plan administrators) fill a critical role in managing self-funded health plans for small and mid-size companies. Traditionally, third party administrators have provided a menu of services ranging from initial enrollment and eligibility management to claims administration. Their emphasis has been on efficiency and cost-effectiveness as they have supplemented the HR and administrative resources of clients.

Standard service areas covered by third party administrators include:

  • Initial enrollment.
  • Eligibility management.
  • Claims administration.
  • Claims issue resolution.
  • Stop-loss insurance negotiation and administration.
  • PPO management.
  • Provider discount negotiations.

Broadened Focus of Third Party Administrators

Today, the focus of third party administrators has broadened. As double-digit health benefit cost increases have become the norm, small and mid-size companies are demanding higher-level services from their third party administrators. Among these companies' highest priorities is developing cost control strategies. Meeting this demand calls for a new class of third party administrators. At the top of this class is IMA.

IMA: A Leader among Third Party Administrators

IMA is a leader among third party administrators. Its services have increased in response to market demands — and so has the expertise of IMA consultants. IMA consultants excel at designing customized health plans — including consumer driven health plans — with sophisticated strategies to control rising costs and increase the value employees perceive in their health plans. Through consultation with IMA, your company may uncover cost-saving opportunities that have been overlooked.

Expanded Services of Third Party Administrators

IMA excels in providing enhanced services to help businesses achieve their human resource and financial objectives. Services include:

  • Plan design and management.
  • Participant and client Internet sites.
  • Enhanced management reporting.
  • Aggressive negotiation of stop-loss insurance terms.
  • Case management.
  • Pharmacy benefit management.
  • COBRA administration.

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