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How do issues of medication management factor into prescription costs with health plans?

Ask just about any employer who offers a health plan, and a common frustration is the growing cost of prescription drugs. Reducing this expense is far from a simple fix, though. It requires a multi-prong approach, and educating members about medication management is one essential aspect of it. With the number...

Tom Doney

in

Healthcare Costs, Regulations, Prescription Drug Costs

Mar 20, 2019

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1 min read

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How much progress is being made with price transparency in health care?

I’ll start by saying this is a topic that’s getting more attention than ever before from all parties involved, including health plan administrators, legislators, patients and providers. The issue of price transparency is now front and center as we’re seeing new cost comparison solutions being developed, administrators working directly...

Tom Doney

in

Price Transparency, Regulations

Mar 14, 2019

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3 min read

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Can you describe how fiduciary duty works in simpler terms?

The word “fiduciary” doesn’t exactly roll off the tongue, and its meaning can be a bit on the complicated side, too. A study published in CNBC’s Money this past fall revealed that, at best, only half of those surveyed could correctly identify the meaning of the term. And while that...

Tom Doney

in

Self-Funding, Regulations

Aug 08, 2018

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2 min read

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Why is it so crucial for health plans to stay on top of HIPAA regulations?

The answer to this question is pretty straightforward: the consequences of NOT complying with HIPAA regs can be absolutely devastating to a company. One case that really stands out to me involves a health care entity that was fined $2.5 million after a laptop with electronic protected health information (ePHI) was...

Tom Doney

in

Compliance, Regulations

Jun 06, 2018

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2 min read

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What are the main laws that regulate self-funded health plans?

This question comes up a lot as more and more employers explore the self-funding structure for their company-sponsored health benefits. The Department of Labor (DOL) and its Employee Retirement Income Security Act of 1974 (ERISA) serve as the main governing body for self-funded plans. A federal law, ERISA was created as...

Tom Doney

in

Self-Funding, Regulations

Apr 18, 2018

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1 min read

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How well do TPAs understand the laws within the Affordable Care Act (ACA) ruling?

As TPAs, we have a responsibility to our clients to understand the laws that affect the employee benefit plans we administer. The Affordable Care Act (ACA) is no exception. Fortunately, many comprehensive-service TPAs – Cypress included – belong to the Society of Professional Benefit Administrators (SBPA), which serves as a...

Tom Doney

in

Compliance, Regulations, TPAs (Third Party Administrators)

May 18, 2016

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2 min read

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Why is it so important to monitor employee eligibility under your health plan?

Ineligible employee/dependent coverage has become a big issue with health plans today. Sometimes it’s a matter of not realizing coverage has lapsed, while in other cases, employers may knowingly cover someone who doesn’t meet eligibility requirements. Many times, it happens as an intended act of kindness – when an employer...

Tom Doney

in

Workforce Insights, Regulations, Employee Education

Apr 21, 2016

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2 min read

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