No Change for You with Recent Acquisition of PayFlex by Aetna
Jul. 20, 2011
The recent acquisition of PayFlex by Aetna will mean very little in terms of any change in its operations that will affect you and your health savings or flexible spending accounts. This change will take place over the next 45 days.
“We believe this acquisition will be very seamless, if not almost invisible for you, our valued clients, and your employees,” said Cindy Burkel, Director of Benefits at Farm Credit Foundations. “This acquisition does not have any effect on Foundations switching vendors. We are happy with PayFlex and will continue to have it be the administrator of our health savings and flexible spending accounts in the future. We know this change will be positive because senior leaders of PayFlex reached out to assure us that the acquisition terms included the retention of PayFlex senior leadership with the commitment to integrate Aetna’s current book of business into the PayFlex platform. This is a strong indicator that the commitment to this business is long term.”
Here are some highlights of this acquisition and what it means for you:
- Nothing changes for you. You will have your same contact information for PayFlex.
- The PayFlex management team and key personnel will remain in place.
- PayFlex will maintain its brand and new HealthHub product portfolio, which is becoming more widely respected in the consumer-directed health care space.
- Aetna brings the necessary scale to enable PayFlex to further build upon the HealthHub brand in the market. Aetna's resources will also allow it to deliver more innovative products, services and added functionality for you.
“We are all excited to join the Aetna team,” said Robert L. Natt, Chief Executive Officer of PayFlex. “We firmly believe our proprietary HealthHub technology platform will be a great addition to the Aetna portfolio of products and will create unique market advantages for our existing and future potential customers.”
About Aetna
Aetna is one of the nation's leading diversified health care benefits companies. Aetna serves more than 33.8 million people with information and resources to help them make better informed decisions about their health care.
