Lexology September 27, 2024
A health plan’s fiduciaries are responsible for administering the health plan. Because most employers are not in the business of administering health benefits, they outsource the day-to-day health plan administration to a third-party health plan administrator (TPA). This outsourcing does not mean the employer is off the hook for their fiduciary obligations under ERISA. Even the evaluation and selection of a TPA is itself a fiduciary act, and employers must follow a prudent process.
Below, we provide information for employers regarding the selection, evaluation, and contracting with a TPA:
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Just as most employers are not in the business of administering health benefits, most employers are not in the business of evaluating and selecting TPAs. To help...
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