Tag: third party administrator (TPA)

Question: Who is ultimately responsible for ensuring health and welfare plans are administered in accordance with state and federal law, particularly Employee Retirement Income Security Act (ERISA) compliance? Answer: The employees participating in the plan, their beneficiaries, and the employer benefit when a group health plan is in place. Administering a plan and managing its…

Question: What is an insured plan versus a self-funded plan? Answer: Employers that offer health and welfare benefits typically will pay for those benefits in one of two ways: either by purchasing health insurance from an insurance company (fully insured plans), or the employer provides the benefits directly to employees (self-funded plans). Most employers with…