In the News ARCHIVE – 2014
Cypress News, Articles & Announcements
2014 ARCHIVE PAGE
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- Out-of-Network & Medical Necessity Reviews among Top Ways TPA Identifies Significant Medical Claim Savings
(As seen on BioPortfolio, News OK and other major media websites)
News Release – December 17, 2014
Cypress and its Argus Claim Review division uncovered more than $6 million in savings on behalf of employer-clients last year. In analyzing all of the results from its assessment process, Argus found that out-of-network and medical necessity reviews were among the most common ways to identify savings on medical claims. Read more.
- TPA Keeps Annual Medical Plan Cost Increase to an Average of 1.3% for its Employer-Clients
(As seen on International Business Times, The Miami Herald and other major media websites)
News Release – November 21, 2014
After releasing its latest employer medical plan cost comparison online, Cypress Benefit Administrators demonstrates its continued success in containing employee benefit expenses year after year. The TPA reports an average plan cost increase of just 1.3% for 2013 compared to a 6.4% average increase nationally. Read more.
- TPA Finds Major Discrepancies in Hospital Billing Patterns, Saves Clients a Combined $120,000+ in New Case Study (As seen on JS Online/Milwaukee Journal Sentinel, LA Daily News and other major media websites)
News Release – October 28, 2014
In a recent case study, Cypress and its Argus Claim Review division show how careful analysis of medical claims can significantly contain costs. The TPA shares how two very similar cases were charged quite differently and how catching and addressing the overcharges in hospital billing led to a combined savings of $120,000. Read more.
- Third Party Administrator Introduces Video Series on Cost Containment Strategies for Employee Benefits (As seen on Worth Magazine, StarTribune and other major media websites)
News Release – October 14, 2014
Based on information-packed presentations from Cypress University 2014, Cypress Benefit Administrators recently added a new video series to its website that covers cost containment strategies for employee benefit plans. The topics covered focus on self-funded plans and range from telemedicine and dialysis cost control to stop loss insurance and employee wellness programs. Read more.
- Patient-Doctor Visits Continue to Evolve with Innovative Telemedicine Services Offered through Third Party Administrator (As seen on The Boston Globe, Pittsburgh Post-Gazette and other major media websites)
News Release – September 4, 2014
Through a partnership with Teladoc, Cypress Benefit Administrators offers its employer-clients state-of-the-art telemedicine services that feature 24/7 access to physician consultations in non-emergency situations. These patient-doctor visits are done by phone or video using the latest technology and provide users a new level of convenience and flexibility while limiting many of the extra expenses associated with urgent care. Read more.
- Third Party Administrator Forms Proactive Partnership to Help Protect Members from the Costly Consequences of Medical Identity Theft (As seen on the Lexington Herald-Leader, International Business Times and other major media websites)
News Release – July 28, 2014
Medical identity theft (MIT) has become the fastest-growing form of identity-related crimes in the United States with nearly two million people affected by it in 2013 and associated costs reaching more than $40 billion. Cypress Benefit Administrators has partnered with ICR Bridge to take a proactive approach to this problem and offer its members state-of-the-art MIT resolution services. Read more.
- TPA Helps Employers Understand Common Documentation Requirements as the Number of DOL Health Plan Audits Increases (As seen on Insurance News Net, NewsOK and other major media websites)
News Release – June 19, 2014
With the number of Department of Labor (DOL) health plan audits on the rise, Cypress Benefit Administrators serves as a resource in helping employers better understand the different types of documentation commonly reviewed in assessments. The third party administrator (TPA) shares information on documents related to administrative recordkeeping, the Affordable Care Act, HIPAA and more. Read more.
- TPA Finds Ineligible Employee Coverage to be a Frequent Problem Cited with Health Benefit Plans & Provides 10 Tips for Employers to Avoid the Resulting Claim Costs (As seen on The Miami Herald, Anchorage Daily News and other major media websites)
News Release – May 29, 2014
Cypress Benefit Administrators explains how ineligible employee coverage has become a growing issue with health benefit plans and how it can affect employer-clients through costly claims. The third party administrator also shares 10 best practice tips for managing the details related to employee and dependent coverage. Read more.
- TPA Hosts Successful Cypress University 3.0 and Introduces Next Generation Solutions for Cost Control in the Self-Funded Industry (As seen on LA Daily News, The Kansas City Star and other major media websites)
News Release – April 17, 2014
Held in Las Vegas for the third consecutive year, Cypress University 3.0 – the annual cost containment conference from Cypress – was presented to a full crowd April 14-15. Nearly 200 attendees took part in a variety of keynote presentations and interactive panel sessions as the TPA introduced several next generation solutions for controlling the expenses of employee benefits. Read more.
- Cypress University 3.0 Kicks Off in Las Vegas, Conference to Cover Latest Cost Containment Strategies in Employee Benefits (As seen on International Business Times, The Boston Globe and other major media websites)
News Release – April 14, 2014
Back in session for the third year, Cypress University 3.0 kicked off in Las Vegas today with an all-new venue, schedule and line-up of presenters. The popular conference focuses on next generation solutions and strategies for cost containment in self-funded employee benefits. Read more.
- Wisconsin-Based Third Party Administrator Earns Better Business Bureau Accreditation and Achieves A+ Rating (As seen on JS Online/Milwaukee Journal Sentinel, Worth Magazine and other major media websites)
News Release – March 27, 2014
Serving employer-clients in all 50 states, Cypress Benefit Administrators’ Appleton headquarters recently received accreditation from the Better Business Bureau (BBB) of Wisconsin. The third party administrator also earned an A+ rating from the BBB organization. Read more.
- Employee Benefits Administrator Helps Employers Make Sense of Recent Deadline Changes to “Pay or Play” Portion of Affordable Care Act (As seen on Insurance News Net, The Boston Globe and other major media websites)
News Release – February 20, 2014
With more deadline changes to the shared responsibility (“pay or play”) requirements recently announced, Cypress Benefit Administrators continues to serve as a resource for employers affected by the Affordable Care Act. Cypress breaks down the timing set forth by the IRS as it relates to company size and offers other helpful details on the final ruling. Read more.
- TPA Investigates Health Claim & Saves Client Over $15,000 on Surgery Billed at 700% More than Allowable Amount (As seen on Digital Media Wire, Sign On San Diego and other major media websites)
News Release – January 30, 2014
Cypress Benefit Administrators and its Argus Claim Review Division released a new case study that shows the importance of diligent health claim review. In this example, the client saved over 71% on an emergency appendectomy that a hospital originally billed at over $21,000. Read more.
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