Aetna wraps purchase of health plan administrator PayFlex

OMAHA, Neb.—Aetna Inc. says it has completed its acquisition of PayFlex Holdings Inc., an account-based health plan administrator.

Omaha, Neb.-based PayFlex provides online benefit administration services and solutions for plan sponsors that offer health savings accounts, health reimbursement arrangements and flexible spending accounts. It also provides COBRA direct-billing services.

“This acquisition fits well with Aetna’s core business, which has a strong focus on consumer-directed product offerings,” Mark T. Bertolini, chairman, CEO and president of Hartford, Conn.-based Aetna, said Tuesday in a statement.

“With an increased focus on consumerism, the acquisition of PayFlex will extend Aetna’s ability to provide members with flexible, customized, easy-to-use tools and solutions to better manage their health care expenses,” he added.

Aetna previously disclosed that it paid about $202 million to acquire PayFlex, which has about 3,300 direct employer customers.