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Evaluating Your Third-Party Administrator: Are You Getting What You're Paying For?

 

Avoid regulatory and other pitfalls while ensuring every aspect of a successful benefit plan is being handled.

Many employers - both private and municipal - offer benefit programs to their employees, focusing on maximizing the benefit offerings while minimizing the associated costs. To aid them in structuring and administering these programs, they secure the services of a third-party administrator. Such third-party administrators (TPAs) strive to deliver administrative services in accordance with their service agreements but also make efforts to avoid taking on a fiduciary role or offer guidance beyond that which they are contractually obligated to provide. Some fall short of even this benchmark, failing to deliver and exposing their clients (and themselves) to legal liability, whilst others go above and beyond - creating exceptional value for their clients. This information will enable any and all entities responsible for identifying, selecting, and monitoring their TPA to track performance and assess results, as well as identify opportunities to create additional value in collaboration with their TPA. The material will explain how to avoid regulatory and other pitfalls while ensuring every aspect of a successful benefit plan is being handled.

Agenda

Faculty

Adam V. Russo, Esq.

Adam V. Russo, Esq.

The Phia Group, LLC

  • Co-Founder and Chief Executive Officer of The Phia Group LLC; an experienced provider of health care cost containment techniques offering comprehensive claims recovery, plan document and consulting services designed to control health care costs and protect plan assets
  • The Phia Group’s overall mission is to reduce the cost of health benefits through its recovery strategies, innovative technologies, legal expertise, and focused, flexible customer service
  • Frequent speaker and author on health care and employee benefits; participating in webinars, conferences, and seminars across the country
  • 2019 Chairman of the Board of Directors for the Self-Insurance Institute of America, Inc. (SIIA) and Massachusetts Association of Health Underwriters (MAHU) Board Member
  • Admitted to the Massachusetts Bar, the U.S. Court of Appeals for the First Circuit and the Supreme Court of the United States
  • J.D. degree, Suffolk University Law School; master’s degree in finance, Frank Sawyer School of Management at Suffolk University in Boston; undergraduate degree in political science and public relations, Suffolk University
Ron E. Peck, Esq.

Ron E. Peck, Esq.

The Phia Group, LLC

  • Executive Vice President and General Counsel; a member of The Phia Group, LLC since 2006
  • As an ERISA attorney with The Phia Group, an innovative force in the drafting of improved benefit plan provisions, handled complex subrogation and third-party recovery disputes, medical provider direct contracting and spearheaded efforts to combat the steadily increasing costs of health care
  • Considered to be one of the nation’s premier self-funded health plan consultants and health benefits attorneys; lecturing at and participating in many industry gatherings including but not limited to the National Association Of Subrogation Professionals (NASP), Society of Professional Benefit Administrators (SPBA), the Health Care Administrator’s Association (HCAA), and SIIA
  • Currently serves as The Phia Group’s Executive Vice President and General Counsel, and is also a dedicated member of SIIA’s Government Relations Committee
  • J.D. degree, Rutgers University School of Law; B.S. degree in policy analysis and management, Cornell University

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