In the News ARCHIVE – 2017
Cypress News, Articles & Announcements
2017 ARCHIVE PAGE
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- TPA’s Client Base Saves $48 Million through Add-On Travel Network Program Implemented with Health Plans
(As seen on the Milwaukee Journal Sentinel, Pittsburgh Post-Gazette and other major media websites)
News Release – December 14, 2017
As another way to help contain health plan costs, the travel network solution Cypress Benefit Administrators offers its clients resulted in $48 million in savings for 2016. This customizable program saved self-funded employers more than 30% each quarter while extending health coverage to plan members who needed care when traveling out of network. Read More.
- Education Proves Effective as TPA Helps Employer Groups Reduce Dialysis Care Spending by Nearly $5 Million
(As seen on the Star Tribune, Lexington Herald-Leader and other major media websites)
News Release – November 7, 2017
Cypress Benefit Administrators is offering its employer-clients two programs to help address the growing number of kidney disease cases health plans are experiencing today. Focused on education, these programs have had positive results in the last two years, including nearly $5 million in savings on dialysis-related treatment, decreased hospital admissions and better disease management. Read More.
- Comprehensive Review of Health Claims Results in $4.3 Million Saved for TPA Clients
(As seen on Wichita Eagle, International Business Times and other major media websites)
News Release – October 10, 2017
A division of Cypress Benefit Administrators, Argus Claim Review was able to save clients $4.3 million on health claims in 2016. A comprehensive claims analysis completed by the Argus team identified savings opportunities through issues like miscoded items, duplicate entries, upcoded services and more. Read More.
- Focus to Contain Health Plan Costs a Success as TPA Saves Client Base Half the Amount of Total Billed Charges
(As seen on Kansas City Star, Miami Herald and other major media websites)
News Release – September 27, 2017
In releasing its cumulative cost results for 2016, Cypress Benefit Administrators reports that it was able to save employer-clients $266 million last year – 49.5% of the $543 million in total billed charges. The third party administrator (TPA) shares the top tactics for these savings opportunities, from in-network savings and unsupported documentation to inappropriate charges and uncovered benefits. Read More.
- TPA Offers Clients Enhanced Telemedicine Services & Industry’s Only Mobile App through Collaborative Effort
(As seen on the Los Angeles Daily News, Sun Herald and other major media websites)
News Release – September 11, 2017
In its partnership with Teladoc and Healthiest You, Cypress Benefit Administrators is now able to offer employer-clients an enhanced telemedicine solution. Added features include the industry’s only mobile app, consults for care related to behavioral health and 24/7 access to licensed physicians with an average call-back time of just seven minutes once contact is initiated. Read More.
- Health Claims Analysis Reveals Opportunities for A TPA’s Clients to Save an Additional $16 Million
(As seen on the Milwaukee Journal Sentinel, The News Tribune and other major media websites)
News Release – August 9, 2017
Focused on cost containment efforts, Cypress Benefit Administrators recently had a health claims analysis done through its partnership with Healthcare Bluebook to identify additional savings opportunities for clients. Cypress’s book of business was analyzed and the results showed 50,000 instances where overspending on medical services occurred, with the potential to save up to $16 million by educating patients to choose more cost-effective service providers. Read More.
- TPA Shares How Two Next-Generation Benefit Solutions Saved an Employer Upwards of $2 Million and Led to Healthy Outcomes
(As seen on Pittsburgh Post-Gazette, Star Tribune and other major media websites)
News Release – July 27, 2017
Taking a forward-thinking approach to health benefits, Cypress Benefit Administrators shares the success an employer-client is having with two next-generation solutions. The third party administrator (TPA) explains how the implementation of organ transplant and cancer care programs led to more than $2 million in savings and healthy outcomes for plan members. Read More.
- Average Health Plan Cost Increase for One TPA’s Clients Contained to Nearly Half the National Rate
(As seen on International Business Times, Lexington Herald-Leader and other major media websites)
News Release – July 11, 2017
Releasing its annual cost data trends report, Cypress Benefit Administrators shared that it was able to contain health plan cost increases to an average of 3.79% on behalf of its employer-clients last year. The third party administrator (TPA) continues to have success with its cost control efforts as the national increase came in nearly twice as high at 7.2%. Read More.
- Cypress Benefit Administrators Promotes Sales Director to Newly Created Position
(As seen on Miami Herald, Kansas City Star and other major media websites)
News Release – June 21, 2017
Cypress Benefit Administrators has promoted Drew Rozmiarek to the role of Director, Sales & Specialty Services. In this newly created position, Drew will continue to lead sales efforts from Cypress’s Colorado location and he will oversee expansion efforts related to emerging markets, new product development and more. Read More.
- TPA Makes Mental Health a Priority with Partnership to Provide Forward-Thinking Employee Assistance Programs
(As seen on The Wichita Eagle, Los Angeles Daily News and other major media websites)
News Release – June 15, 2017
In a move that demonstrates it embraces the need for including mental health services in employee benefit plans, Cypress Benefit Administrators has partnered with CuraLinc to offer employer-clients an Employee Assistance Program (EAP) benefit option. Implementation of the program is having significant impact, including improved employee well-being and productivity. Read More.
- TPA Introduces Video Series Focused on Containing the Costs of Health Plans
(As seen on HR.com, the Milwaukee Journal Sentinel and other major media websites)
News Release – May 18, 2017
With a new online video series recently launched, Cypress Benefit Administrators aims to educate employers on solutions for administering health plans and controlling the associated costs. The videos cover benefit-related topics ranging from workplace wellness and provider transparency to care management and telemedicine. Read More.
- TPA Teams Up with Long-Time Partner to Offer Fiduciary Protection Program to Self-Funded Clients
(As seen on the Daily Herald, Santa Cruz Sentinel and other major media websites)
News Release – May 9, 2017
Cypress Benefit Administrators has teamed up with long-time partner The Phia Group to offer a fiduciary protection program to employer-clients with self-funded plans. The PACE program assumes fiduciary burden on behalf of employers and provides legal expertise and support when complex health claim decisions arise. Read More.
- Cypress University Concludes After Two Days of Sharing Tactics for Cost Control in Employee Benefits
(As seen on Pittsburgh Post-Gazette, International Business Times and other major media websites)
News Release – April 13, 2017
The sixth annual Cypress University wrapped up in Las Vegas after two days of informational presentations and panels covering ways to contain the costs of health benefits. More than 260 people attended and learned about the latest in everything from workplace wellness and telemedicine to medical tourism and reference-based pricing. Read More.
- Employee Benefits Conference to Open with Highly Anticipated Keynote Session on Workplace Wellness
(As seen on Milwaukee Journal Sentinel, Miami Herald and other major media websites)
News Release – April 10, 2017
Focusing on cost containment strategies for employee benefits, Cypress University kicked off today in Las Vegas with a keynote presentation on workplace wellness from Andy Core. The conference is hosted by Cypress Benefit Administrators and returned for its sixth year with a record number of attendees. Read More.
- President & CEO of Midwest-Based TPA Firm Announces Record Year of Growth
(As seen on Pittsburgh Post-Gazette, HR.com and other major media websites)
News Release – February 6, 2017
Cypress Benefit Administrators achieved record growth in 2016 after developing partnerships with new clients across the United States. The TPA firm was also successful in its cost containment efforts and kept its year-over-year average rate increases to less than 2% for health plans once again. Read More.
- TPA Firm’s Leader to Discuss the Latest ACA Developments at Benefits Symposium in February
(As seen on Los Angeles Daily News, The News Tribune and other major media websites)
News Release – January 24, 2017
Tom Doney, president and CEO of Cypress Benefit Administrators, will be among the presenters at the 2017 LBG Advisors Benefits Symposium in February. Doney’s session is expected to be of special interest as he covers the latest developments with the Affordable Care Act (ACA) and the potential direction the law could take under the new administration. Read More.
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