Benefit Resource, a third-party administrator of pre-tax benefits and COBRA services, has received funding from private equity firm CIP Capital.
By working with CIP, Benefit Resource hopes to expand its platform to build enhanced solutions for its clients.
The company administers pre-tax benefits, including FSA, HSA, HRA and commuter benefit plan programs, and COBRA services across the US. The plans enable employers and employees to set aside money to pay for common expenses associated with medical care, dependent care, mass transit, and parking costs.
As part of the deal, Benefit Resource co-founders Tony DiBarnaba and Thomas Guiler have moved to advisory roles and Jason Hall, the current COO, has been named CEO.
Benefit Resource CEO Jason Hall said, “With the strength of our proprietary technology and our people, BRI is uniquely positioned to offer clients and their employees with simple, cost-saving solutions that create peace of mind with the regulations and complexities inherent in providing employees with consumer-directed benefit programs.”
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