MADISON/APPLETON, Wisconsin – WEA Trust and Cypress Benefit Administrators announce a partnership agreement to offer a self-funded product for public employer groups. WEA Trust is Wisconsin’s leading insurer of the public employee market and Cypress is a Wisconsin-based third party administrator (TPA) that excels at offering high quality cost containment solutions to their clients nationally.
“Cypress is a well-respected TPA and we’re thrilled at the prospect of combining our deep knowledge of the public employer market with their industry-leading cost management tools,” said Jon Klett, WEA Trust Vice President of Sales, Marketing and Product Development. “This allows us to meet the demand of our customers to offer self-funded solutions in addition to our current offerings.”
The agreement between the two companies will leverage WEA Trust’s expertise in the public employer market and broad Wisconsin provider network with Cypress’ benefit administration capability and array of cost containment relationships to offer a differentiated self-funded solution to the market.
“WEA Trust knows public employers and has the network those customers need while we’ve had great success with self-funded groups,” said Tom Doney, President and CEO of Cypress Benefit Administrators. “We’re looking forward to offering clients the best of both worlds.”
Self-funded business under this partnership will be sold by WEA Trust sales teams and will be available to groups starting September 1, 2016.
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 www.weatrust.com
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