What To Look For In Third Party Administration Services From Cleveland, Ohio
All third party administration services in the Cleveland, Ohio area are not created equally and when you are in the process of making a selection, there are certain things that we need to be looking for. Being asked to select third party administration services from Cleveland, Ohio may seem challenging, but this helpful guide is here to assist you.
Before you decide between all of the third party administration services that the city of Cleveland, Ohio has to offer, please be sure to read on and learn more about the following traits that you need to be looking for in your TPA…
A History Of Handling Your Chosen Plan
Every third party administrator is going to have their own strengths and when you are selecting a TPA to assist you, you need to find out as much as possible about their past history when it comes to the size of the plans that they are accustomed to. Some clients may have a much smaller plan than others and they need to choose a third party administrator that is accustomed to catering to these types of markets.
On the other hand, there are other clients who may possess much larger plans. These clients need to make sure that they are selecting a TPA that works primarily with plans that contain millions of dollars in assets. Meanwhile, there are TPAs that are experts when it comes to your daily valued 401K and others tend to work on defined benefit plans.
Experienced Point of Contact
While you may have felt as if you had a positive connection with the person who handled your sales call, there is no guarantee that the person who took your sales call will be the one to assist you over the long haul. You need to be asking if the person you are speaking with is going to be your point of contact or if you are going to be speaking with a different employee when it is time to discuss your account.
There are other third party administration services who will simply filter all of the calls that they receive from their clients through a call center, as opposed to speaking to them directly. If the service is not willing or able to provide you with access to a direct contact, this is not a good sign and should be treated as such.
A List of References
A third party administrator is just like any other company that you will choose to perform important services on your behalf. They should be ready to offer you a list of references at a moment’s notice and the best companies tend to have these references at the ready…before their clients have even had the chance to ask about them.
These references should not be confusing or hard to understand in any way. They should also contain all of the information that is most important to you. For example, does the third party administrator have a history of returning phone calls in a timely manner? Do they contact their clients about necessary issues as quickly as possible? These are all questions that need to be answered in full.