May 11, 2015 – Arlington, VA – Towers Watson, a global professional services company, announced today that it has acquired Acclaris, a provider of software-as-a-service (SaaS)-based technology and services for consumer-driven health care and reimbursement accounts, including health savings accounts (HSAs), health reimbursement arrangements (HRAs) and other consumer-directed accounts. The acquisition enhances Towers Watson’s position as a leading benefits administration and exchange provider.
Account-based health plans (ABHPs) pair a health insurance plan with a tax-advantaged spending or reimbursement account such as an HSA or an HRA. Towers Watson research shows that adoption of these kinds of plans is growing rapidly. That research shows that approximately 50% of employers could offer ABHPs as their only option by 2017 — up from about 20% already doing so in 2015.
Founded in 2001, Acclaris offers flexible products that include integrated technology and services to support account-based benefits on a single platform in a scalable way. Acclaris supports 1.4 million accounts (as of March 2015) across all account-based benefit types: HRA, HSA, flexible spending accounts, commuter accounts and custom reimbursement accounts, with both technology and a global service model.
The purchase price is $140 million, with the acquisition anticipated to have no impact on Towers Watson’s investor guidance in fiscal year 2015.
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