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TPA Continues to Keep Annual Employee Benefit Cost Increases to a Minimum without Sacrificing the Level of Quality
Date:7/9/2013

Appleton, WI (PRWEB) July 09, 2013

After releasing the 2012 data for its multi-year cost comparison report, Cypress Benefit Administrators is showing how its customizable employee benefit plans are giving employer clients the ability to control costs without compromising quality.

The third party administrator (TPA) revealed that its average medical plan cost increase for 2012 was just 1.87% while the national average was over three times as high at 6.6%. Cypress rate increases have averaged 2.81% from 2008-2012 as the U.S. increase has averaged 7.29% in this same five-year period.

Tom Doney, president and CEO of Cypress, explained that these numbers and the company’s continued success in containing costs in healthcare benefits is achieved by offering quality-focused employee benefit plans that can be customized to each business.

With the TPA’s unique approach, employer clients are able to select from a wide-ranging menu of employee benefit options and build their own plan piece by piece instead of having to settle for standard, one-size-fits-all offerings.

“From the start, we’ve realized that all of our clients have very different benefit needs and that a single solution could never work,” Doney said.

While the TPA’s tailored benefits have been leading to significant cost savings over the years and proven to be key to containing costs, Cypress has also made sure that clients don’t have to make any sacrifices when it comes to quality.

A few examples of how quality and cost-effectiveness are integral factors in the programs Cypress offers:

  • Medical Tourism – The U.S.-based program allows patients to stay in the states to receive care from renowned nationa
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Source: PRWeb
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