Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—has entered into an agreement to acquire HR Simplified, a third-party administration (TPA) firm that services consumer-directed health (CDH) plans and provides COBRA administration. HR Simplified’s offerings include health savings accounts, flexible spending accounts, health reimbursement arrangements, pre-tax commuter benefit programs, along with other benefit continuation services. It will immediately become part of Ascensus’ Health and Benefits line of business.
HR Simplified, which is based in Minneapolis, MN, has been providing national employee benefit administrative solutions since 1997. The firm offers a full suite of pre-tax spending account administration options, COBRA & retiree billing solutions, and employee benefit compliance services, providing clients with access to exceptional service, technology, and educational materials at both the employer and participant levels.
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“HR Simplified is a well-regarded firm that is renowned for offering a ‘no noise’ approach to benefits administration and serving their clients with passion, enthusiasm, and integrity,” states David Musto, president of Ascensus. “When combined with the fact that they’ve developed and cultivated a solid reputation for reliability and dependability, it’s easy to understand why we believe that they’ll play an important role in the growth of Ascensus’ Health and Benefits line of business.”
“I’ve always stated that the foundation of HR Simplified’s success is the human touch,” says Mike Melnychuk, HR Simplified’s president. “In Ascensus, we’ve found an organization that will allow us to continue to offer the very best in benefits administration; they share our dedication to providing excellent service and finding solutions that best fit clients’ needs.”
“We’re delighted to welcome HR Simplified to Ascensus not only because of their great associates and their strong knowledge base, but also because the firm is a strong cultural fit,” says Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “In addition to the recent acquisitions of Chard Snyder, BPC, and Wrangle, HR Simplified is another example of our ongoing commitment to building a national CDH and benefits administration business.”