OnlineBenefits Acquires Two Outsourcing Shops, Opens Subsidiary

October 8, 2003 ( - OnlineBenefits Inc has acquired two benefits outsourcing businesses and established a new subsidiary - Benergy Outsourcing Strategies (OS).

Benergy OS will provide three types of services geared toward small and mid-market employers and distributed through OnlineBenefits’ network of 300 insurance brokers:

  • total benefits outsourcing
  • flexible spending account (FSA) administration
  • COBRA administration.

Admin Strategies and Benefit Outsourcing Services were the two targets of the recent acquisition.   Admin Strategies specialized in total benefits outsourcing and was led by Mark Stevens, who now manages Benergy OS. Benefit Outsourcing Services was formed from a joint venture between Thesco Benefits, LLC and Frenkel & Co Inc, and was focused on administering FSA and COBRA plans and providing total benefits outsourcing.