HR Simplified, Inc.

HR Simplified, Inc. is a Third Party Administrator specializing in employee benefits solutions, streamlining the management of pre-tax savings accounts to enhance efficiency for employers and employees. Founded in 1997 and headquartered in Minneapolis, US, HR Simplified, Inc. focuses on employee benefits administration.

In June 2019, the company was acquired by Ascensus, LLC, a portfolio company of Atlas Merchant Capital and GIC. Financial terms of the transaction were not disclosed. HR Simplified, Inc. provides a variety of employee benefit solutions including Flexible Spending Accounts (FSA), Health Reimbursement Arrangements (HRA), Health Savings Accounts (HSA), Lifestyle Spending Accounts (LSA), and Commuter Benefits.

The company assists current and former employees in managing healthcare and dependent care expenses through pre-tax savings accounts. Their services also include compliance administration, document management, and COBRA benefits, catering to a diverse client base of small to large employers across the United States. HR Simplified, Inc. generates revenue through service agreements for managing various employee benefit programs, including FSAs, HSAs, and COBRA plans.

The pricing structure is based on service fees that scale with the number of participants and specific services chosen, ensuring a user-friendly experience for both employers and employees. Following the acquisition by Ascensus, LLC in June 2019, HR Simplified, Inc. aims to leverage its new resources to enhance its product offerings and expand into new markets. The company is developing additional benefits administration products and plans to target expansion into the Southeast and Pacific regions of the US by 2025.

The recent acquisition funding will support these initiatives as the firm seeks to strengthen its presence in the employee benefits landscape.