Limitless Venture Group, Inc. in Final Stages of Due Diligence to Acquire Majority Interest in TPA

By: Limitless Venture Group Inc
TULSA, Okla. - May 5, 2021 - PRLog -- Limitless Venture Group, Inc. (LVGI), a publicly-traded holding company that provides its shareholders with access to investment opportunities in small and medium-sized businesses uniquely positioned for rapid growth, today reported it has received all the requested Due Diligence material and is now in the process of reviewing that material and anticipates closing this deal by the end of this quarter, June 30, 2021.

"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:
  • Benefit design
  • Healthcare provider access
  • Enrollment assistance
  • Customer service to plan participants
  • Consolidated billing across vendors for health plan services
  • Processing of medical claims
  • Stop loss coverage
  • Plan record keeping
  • State and federal plan filings
  • Health plan compliance

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," "likely," "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analysis and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management.

Joseph Francella, CEO
Location:Tulsa - Oklahoma - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse PRs
Trending News
Most Viewed
Top Daily News

Like PRLog?
Click to Share