TPA submitted report

English translation: report prepared and submitted by Third Party (claims) Administrator

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:TPA submitted report
Selected answer:report prepared and submitted by Third Party (claims) Administrator
Entered by: Jacek Kloskowski

11:05 Apr 12, 2017
English language (monolingual) [PRO]
Law/Patents - Insurance / Insurance
English term or phrase: TPA submitted report
I have difficulty understanding this part of the text. Any support is much appreciated.
And does anyone know what TPA stands for?
Thank you!!!

Context:
Payments
Review Payment Request, Assess for Duplication and Reconcile with TPA Account
Compare payment request amount against the substantiation for the claim payment / invoice / TPA submitted report to ensure no errors have been made.
Nam Vo
Vietnam
Local time: 00:24
report prepared and submitted by Third Party (claims) Administrator
Explanation:
IMO.

A third-party administrator ( TPA ) is an organization that processes insurance claims or certain aspects of employee benefit plans for a separate entity.[1] This can be viewed as "outsourcing" the administration of the claims processing, since the TPA is performing a task traditionally handled by the company providing the insurance or the company itself. Often, in the case of insurance claims, a TPA handles the claims processing for an employer that self-insures its employees. Thus, the employer is acting as an insurance company and underwrites the risk. The risk of loss remains with the employer, and not with the TPA. An insurance company may also use a TPA to manage its claims processing, provider networks, utilization review, or membership functions. While some third-party administrators may operate as units of insurance companies, they are often independent.[citation needed]

Third-party administrators also handle many aspects of other employee benefit plans such as the processing of retirement plans and flexible spending accounts. Many employee benefit plans have highly technical aspects and difficult administration that can make using a specialized entity such as a TPA more cost effective than doing the same processing in house.

https://en.wikipedia.org/wiki/Third-party_administrator
Selected response from:

Jacek Kloskowski
United States
Local time: 13:24
Grading comment
Thanks, Jack. I appreciate it.
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
1report prepared and submitted by Third Party (claims) Administrator
Jacek Kloskowski
Summary of reference entries provided
Third-party administrator
Port City

Discussion entries: 6





  

Answers


2 hrs   confidence: Answerer confidence 1/5Answerer confidence 1/5
tpa submitted report
report prepared and submitted by Third Party (claims) Administrator


Explanation:
IMO.

A third-party administrator ( TPA ) is an organization that processes insurance claims or certain aspects of employee benefit plans for a separate entity.[1] This can be viewed as "outsourcing" the administration of the claims processing, since the TPA is performing a task traditionally handled by the company providing the insurance or the company itself. Often, in the case of insurance claims, a TPA handles the claims processing for an employer that self-insures its employees. Thus, the employer is acting as an insurance company and underwrites the risk. The risk of loss remains with the employer, and not with the TPA. An insurance company may also use a TPA to manage its claims processing, provider networks, utilization review, or membership functions. While some third-party administrators may operate as units of insurance companies, they are often independent.[citation needed]

Third-party administrators also handle many aspects of other employee benefit plans such as the processing of retirement plans and flexible spending accounts. Many employee benefit plans have highly technical aspects and difficult administration that can make using a specialized entity such as a TPA more cost effective than doing the same processing in house.

https://en.wikipedia.org/wiki/Third-party_administrator

Jacek Kloskowski
United States
Local time: 13:24
Works in field
Native speaker of: Native in PolishPolish, Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thanks, Jack. I appreciate it.
Notes to answerer
Asker: Thank you, Jack :)

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Reference comments


7 mins peer agreement (net): +4
Reference: Third-party administrator

Reference information:
https://en.wikipedia.org/wiki/Third-party_administrator

Port City
New Zealand
Native speaker of: Native in JapaneseJapanese
PRO pts in category: 4

Peer comments on this reference comment (and responses from the reference poster)
agree  Jack Doughty
1 min
  -> Thank you!
agree  AllegroTrans: almost certainly correct
18 mins
  -> Thank you!
agree  Jacek Kloskowski
2 hrs
  -> Thank you!
agree  acetran
22 hrs
  -> Thank you!
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