Limitless Venture Group, Inc. in Final Stages of Due Diligence to Acquire Majority Interest in TPA
By: Limitless Venture Group Inc
"We are working through all the financials and business related documents as well as discussing with the current owner what his vision is for his company now that he will be a part of the LVGI family of companies and how we can grow his business exponentially over the next few years" states Joseph Francella, CEO of LVGI.
A third party administrator, otherwise known as a TPA, is a business organization that performs administrative services for a health plan such as billing, plan design, claims processing, record keeping, and regulatory compliance activities.TPAs help with the design, launch, and ongoing management of a health plan. TPA services are normally configured to the needs of the client. Examples of services that a third-party administrator could potentially provide a health plan are:
TPAs are often used with self-insured health plans where the organization wants the savings associated with self-insuring but not all the operational work that goes with those savings. Self-funded health plans are governed by ERISA and TPAs supporting an ERISA health plan must comply with ERISA's requirements including fiduciary responsibilities.
Our subsidiary, Jasper Benefits Solutions, will be an integral part of, work hand-in-hand with, and generate revenues from our TPA to create the stop loss coverage giving their clients the best coverage for the lowest cost.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates,"
Joseph Francella, CEO