A terminal rider allows for an extension of stop-loss insurance upon termination of a self-funded program. Typically, it extends coverage for three months to pay claims that participants incurred during the past policy year.
A TPA is an organization that handles the administrative duties of claim administration on behalf of a group health plan.
The term "TPA" means third-party administrator.
A trigger point is the aggregate deductible.
A trust is a legal entity that is created when a person or organization transfers assets to a trustee for the benefit of designated persons.
A trustee is a person, bank, or trust company that has responsibility over financial aspects of funds (e.g., receipt, disbursement, and investment). If a bank or trust company does not exercise these responsibilities, a board of trustees, in which an individual trustee has one vote, usually will exercise them.