Third-Party Administrator (TPA)
Definition:
This is a type of organization, which is responsible for the administration of insurance for a self insured group. The TPA is however, not responsible for paying claims.
The use of third-party administrators is now common in many organisations, and the range of tasks they undertake is growing.
Some firms are moving into new areas such as :
- employee's compensation audits
- emergency response planning
- employee well being
Part of speech:
noun
Use in a sentence:
We might need the help of a third party administrator.