Associated Third Party Administrators Announces Sale of the Company

ATPA is one of the leading third party administrators to Taft-Hartley Trusts in the United States for over 60 years
By: Associated Third Party Administrators
 
 
Associated Third Party Administrators
Associated Third Party Administrators
 
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* Trusts
* Health Plans
* Labor Management

Industry:
* Insurance

Location:
* Alameda - California - US

ALAMEDA, Calif. - Oct. 18, 2016 - PRLog -- Associated Third Party Administrators (ATPA) announced today that the company will be sold to New House Administrators, LLC. As part of the purchase agreement, ATPA will file for bankruptcy under Section 363 of the Bankruptcy Code.  The Petition is being filed to allow the company, its employees and its servicing to move forward unencumbered by the liabilities incurred through prior actions by former management. The bankruptcy will not affect any of the current operations of ATPA, for which the company will continue to provide its high level of service.

"As we complete the sale of ATPA through the bankruptcy proceedings, there will be no disruption in our exemplary services to our customers, which is our number one priority," said ATPA CEO Henry Ritter. "We have the commitment from all involved in the sale of the company, to make the transition to the new ownership seamless and no jobs will be lost or in jeopardy during this legal process.  Our commitment to our employees and clients will stay in place."

The Bankruptcy is being filed under the conditions agreed to in the purchase agreement with New House Administrators, LLC, with funding from Premier Servicing, LLC, through a Section 363 sale under the U.S. Bankruptcy Code. The Bankruptcy will eliminate the company of debts created by prior management, which have burdened the company, but have not affected the operations. Post bankruptcy, the company will be able to use its capital to grow the business by investing its resources in innovative technology and services that allow for more efficient solutions to claims and pensions processing.

ATPA is headquartered in Alameda, CA and is one of the leading third party administrators to Taft-Hartley Trusts in the United States for over 60 years. It operates one of the most advanced computerized application technologies for the servicing of Labor/Management Trust Funds and Public Employee/Employer Benefit Plans. Its data processing and record-keeping systems are at the top of industry standards and are customized to meet each client's specific requirements.

The company offers health and welfare plan administration services that include eligibility determination, participant enrollment and interface, Cobra/HIPAA compliance, provider premium payments and interface, indemnity claim adjudication, retiree health plan administration, Medicare Part D-CMS reconciliation, Medi-Cal plans, dental plans, drug plans, vision plans, disability benefit plans, life insurance plans, utilization review interface, and case management interface, as well as PPO, EPO, and DPO programs.

For more information about Associated Third Party Administrators visit http://www.ATPA.com .

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Jim Goyjer
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Tags:Trusts, Health Plans, Labor Management
Industry:Insurance
Location:Alameda - California - United States
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