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(TPA) Bond SAMPLE FORM - CT - ct

(TPA) Bond SAMPLE FORM - CT - ct 2025

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The document is a sample bond form for Third Party Administrators (TPA) in the State of Connecticut. It outlines the obligations of the Principal and Surety to ensure payment to plan sponsors, participants, and members in case of insolvency or nonpayment. The bond is required for licensing as a TPA under Connecticut law and ceases upon termination of licensure.

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What is a TPA bond?

A Third Party Administrator (TPA) Bond is a surety bond required by many states for businesses (TPAs) that manage administrative tasks for other organizations. These tasks can involve managing insurance claims, handling retirement plans, and more.

What does TPA mean in legal terms?

Retirement plan administration Retirement plan administrators are TPAs that work with companies that handle 401(k)s and other retirement benefits for their employees.

What does a TPA do for a 401k plan?

A third-party administrator is a company that provides operational services such as claims processing and employee benefits management under contract to another company. Insurance companies and self-insured companies often outsource their claims processing to third parties.

How to get a surety bond in CT?

How to Get a Surety Bond in Connecticut Contact the obligee requiring the bond to determine which one you need. Submit a free online application with SuretyBonds.com. Well instantly review your application and provide a quote. Pay your bond premium and receive your bond immediately. Sign and file your bond with the obligee.

What does TPA stand for?

Third Party Administrator (TPA) 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.