“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.”
Continue reading Best Practices for TPA Evaluation, Selection, and Contracting