Regulators Showing Bite in Dealing With Wayward TPAs

Substantial fines and penalties levied in the past year in Texas and Florida show that some regulators are keeping a close eye on third party administrators. And when the behavior warrants, they are hitting TPAs, and those who use them, with hefty fines and penalties. The total of $977,971 in fines and penalties against Wisconsin-based Madison National was far and away the largest issued by the Texas Department of Insurance in 2017. The matter involved Madison’s TPA operations, as did a $140,000 fine issued by the Florida Office of Insurance Regulation against Health Pla...