Well naturally, I have to put in a plug for Team Cypress here. I’ve heard they’re pretty good at all that employee benefit administration stuff! In all seriousness though, there are so many factors to consider in your search for a TPA and it’s worth doing your homework.
How much experience do the TPA and its team have? Do they serve clients of all different sizes? All different industries? What kind of credentials and referrals can you find? Consider browsing TPA websites to scribble some notes, then schedule a meet-and-greet and go down that list of questions. Be sure to get an idea of where the company is headed. Have they adapted to the needs of employers today and will they offer the necessary resources and solutions to keep you moving into the future? Does the TPA offer an integrated approach to employee benefits and focus on a cost-quality balance?
Selecting the right TPA is a big decision. This will be one of the most important partnerships your company forms, so choose wisely.