Don’t Pay Group Rating Invoices Yet!

If you have been getting bills for next year from your current group TPA, do not pay them now.  Here’s why:

  1. The deadline to enroll in group rating is the end of February 2013.  Why pay now for services that won’t start until next July?
  2. If you haven’t seen the projected discount, how do you know if you want to stay with your current group and/or TPA?
  3. If you haven’t seen other group offers, how do you know this year’s group will be best for you next year?
  4. If you pay now, will you remember to request your money back if you change TPAs?
  5. Are you willing to let your current group TPA keep a portion of the payment if you change to another TPA?  (You did read the contract, didn’t you?)

Some invoices are honest enough to state that payment does not guarantee that your company will be accepted into group rating.  So why rush to pay?

The ONLY EXCEPTION is if the bills are for the current year of group rating.  If you don’t pay your current group TPA, your company can be eliminated from group and you will have to pay your full undiscounted premiums.

 

Posted in group rating, group retro, TPA.