May 2018 Cost Containment Tips

  • Know your Subrogation strategy and make sure to do a plan design review once a year.
  • Ask your Third-Party Administrator (TPA): What is our subrogation strategy? How will we identify claims? Who is the TPA’s subrogation vendor?
  • Communicate with your TPA: If you or your human resource team know that a claim is a result of a third-party loss, like a motor vehicle accident, advise your TPA.
  • Get documentation from the appropriate parties and get that to the TPA: Police reports, accident reports, incident reports. These are key pieces of information that are necessary for identifying and evaluating subrogation opportunities.
  • Don’t wait to put a good subrogation strategy in place until it’s too late. Timeliness to identifying and pursuing subrogation opportunities are key to a successful recovery!