Since TPAs play such an integral role in the successful design, function, and government compliance of employee benefit plans, we are sometimes asked whether hiring a TPA is required by law. No, TPAs are not a legal requirement . However, just like attorneys, doctors, tax preparers, investment advisors, etc.
No TPA Operating Ratios Or Staffing Standards
No TPA Operating Ratios Or Staffing Standards
SPBA is often asked about studies or statistics about staffing & operating ratios for TPAs. Well, there is nothing reliable, and we would warn you against trying to apply any numbers you do see or comparing to seemingly-similar businesses (such as HMOs or insurance companies). The question seems very logical on the surface, and thus SPBA has tried on several occasions to find the answers. After one such survey of operating expenses of TPAs firms, the results were announced (based on the data submitted by TPA firms).