Cypress President, Tom Doney, Testifies Before the Department of Labor
Cypress Benefit Administrators co-founder and President, Tom Doney, testified on December 7, 2010, in Washington, DC, before the Department of Labor on the topic of health benefit plan disclosure
. Key people
from the Employee Benefits Security Administration (EBSA) were present, including the Assistant Secretary, Phyllis Borzi. Read more.
Variation in Hospital Payments
According to a recently released study
, a wide variation in private insurer payment rates to hospitals across and within local markets suggests that some hospitals have significant market power to negotiate higher-than-competitive prices. The study shows evidence of how hospitals and physicians are charging
insurance companies and self-funded plans much differently as compared to reimbursements for Medicare and Medicaid.
The data in the study confirms that the Cypress approach is beneficial for our clients. Read more about the study/results