Ascensus, a Dresher, Pa.-based provider of technology and expertise for people to save for retirement, education, and healthcare, is to acquire HR Simplified, a Minneapolis, MN-based third-party administration (TPA) firm that services consumer-directed health (CDH) plans and provides COBRA administration.
The amount of the deal was not disclosed.
Led by Mike Melnychuk, president, HR Simplified provides health savings accounts, flexible spending accounts, health reimbursement arrangements, pre-tax commuter benefit programs, along with other benefit continuation services.
The company, which has been providing national employee benefit administrative solutions since 1997, offers a full suite of pre-tax spending account administration options, COBRA & retiree billing solutions, and employee benefit compliance services.
Following the deal, it will immediately become part of Ascensus’ Health and Benefits line of business.
Ascensus is an independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare.