Market-leading Reimbursement and Absence Management Solutions Further Strengthen ADP’s Benefits Administration Leadership
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ADP®, a leading provider of human resource outsourcing, payroll services, tax and compliance services, benefits administration and integrated computing solutions for vehicle dealers, today announced that it has completed its acquisition of the human resource solutions subsidiary of SHPS, Inc., a highly respected provider of benefits administration services.
SHPS’ Human Resource Solutions (HRS) includes benefits administration eligibility and enrollment,spending accounts, COBRA, absence management solutions, benefits advocacy, and print and fulfillment, and is a strategic fit with ADP’s already strong benefits solutions and services. With the addition of HRS offerings, ADP continues to broaden its benefits portfolio while significantly expanding its capabilities in the areas of absence management and reimbursement solutions such as Flexible Spending Accounts (FSA), Health Savings Accounts (HSA) and Health Reimbursement Accounts (HRA).
“As health care reform accelerates and employers look for new ways to engage employees and manage costs, the addition of HRS’s exceptional solutions in reimbursement accounts and absence management will further strengthen ADP’s position in the rapidly growing benefits marketplace,” said Tim Clifford, President, Benefits Services at ADP. “More and more of our clients are looking for new ways to navigate the evolving health care environment, while providing employees with a wide range of options to help meet their health care needs. By combining ADP’s current benefits outsourcing services and leading technology platforms with SHPS HRS, we are poised to offer that and more to our clients.”
This transaction builds on ADP’s continued focus on benefits, including the acquisition of Asparity Decision Solutions, a supplier of patented employee benefits decision support tools. It also follows the establishment of ADP’s Strategic Advisory Services group, which is dedicated to advising clients on benefits administration services by providing business intelligence and strategies to help drive compliance with increasing regulatory changes, lower overall health care costs and increase associate engagement.
For more information on ADP, please visit www.adp.com
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Matt Lafata, HRchitect