Third-Party Claims Administrator


DEFINITION of 'Third-Party Claims Administrator'

This type of administrator processes claims for a third-party company. Insurance companies and employee benefit providers often employ third-party administrators to process their claims. These administrators also often help to process employee retirement plans and flexible spending accounts.

BREAKING DOWN 'Third-Party Claims Administrator'

Third-party administrators are used most commonly by health and commericial liability insurance providers. Life insurance carriers generally process their own claims. Many investment firms that manage retirement plan assets also outsource this service in order to better focus on investment management.

  1. Third Party

    An individual or entity that is involved in a transaction but ...
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    A formal request to an insurance company asking for a payment ...
  3. Administrator

    1. A person empowered by a court to act for another person who ...
  4. Debt Assignment

    A transfer of debt, and all the rights and obligations associated ...
  5. Insurance

    A contract (policy) in which an individual or entity receives ...
  6. Crowding Out Effect

    An economic theory stipulating that rises in public sector spending ...
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