How long does a TPA required to preserve its records?
Every TPA shall maintain its records for a duration of five years, which will be open for inspection by the department, as according to Section 38-51-60.

Third-Party Administrators

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1. Are payments made to third-party administrators (TPAs) from policyholders considered received?
2. How long does a TPA required to preserve its records?
3. What are the requirements for TPAs collecting for more than one insurer or client?
4. Can a TPA pay claims from premiums collected?
5. How are TPAs compensated for services rendered?
6. Do TPAs have additional requirements when they contract with an insurer?