This partnership is a natural fit as it will combine the expertise of both companies and give public employers a smart new plan option to consider.
Appleton, WI (PRWEB) May 31, 2016
A third party administrator (TPA) specializing in self-funded plans for companies of all sizes, Cypress Benefit Administrators has partnered with WEA Trust to offer a custom product designed for public employer groups.
The Wisconsin-based organizations will leverage Cypress’s knowledge in building health benefit plans that integrate cost containment solutions with WEA Trust’s experience as the leading insurer of public employers across the state.
“We respect the work WEA Trust does on behalf of so many public employers in Wisconsin, and have seen the interest many of these groups are showing with regard to self-funding,” said Tom Doney, president and CEO of Cypress. “This partnership is a natural fit as it will combine the expertise of both companies and give public employers a smart new plan option to consider.”
The Cypress team has observed a rise in the number of public employers moving to self-funding in the last few years and says many groups are having success with the model. It considers WEA Trust to be an ideal business partner because of the organization’s 35+ years of working with schools, municipalities and other public employers, and the broad network of Wisconsin providers it brings to the table.
“Along with controlling benefit costs, one of Cypress’s main goals is to help employers customize health plans that are unique to their specific work population,” Doney said. “Together with WEA Trust, we will be able to achieve this for more public employer groups here in our home state.”
Jon Klett, WEA Trust’s vice president of sales, marketing and product development, added, “The demand is definitely there for this type of self-funding solution, and we are excited to partner with Cypress to add it to our existing offerings.”
Cypress and WEA Trust are planning to roll out the self-funding product to the market on September 1.
About Cypress Benefit Administrators
A privately held company headquartered in Appleton, Wis., Cypress Benefit Administrators has been pioneering the way toward cost containment in self-funded health benefits since 2000. The third party administrator (TPA) is the country’s first to bring claims administration, consumer driven health plans and proven cost control measures together into one package for companies ranging from 50 employees to thousands of employees. It serves employer-clients across the U.S. with additional locations in Portland and Salem, Ore., Omaha, Neb. and Denver, Col. For more information on Cypress and its customized employee benefits, visit http://www.cypressbenefit.com.
About WEA Trust
The WEA Trust provides group health insurance and administrative services to public employers throughout Wisconsin. The not-for-profit WEA Trust was created in 1970 to insure Wisconsin school district employees. Today, the WEA Trust offers its top-rated service and quality benefits to all state, county and municipal groups. For more information about WEA Trust, visit http://www.weatrust.com.