ADP has acquired Asparity Decision Solutions, a privately held company that develops decision support software for employee benefits management.
Financial terms of the deal were not disclosed. Asparity’s PlanSmartChoice tools help employees decide on health care benefit options and provide employers with analytical information to help them design their benefit programs. Customers include Fortune 1000 companies and the federal government. The PlanSmartChoice decision support tools are available to all employees who participate in the Federal Employees Health Benefits program. Nearly 100,000 federal employees used the utility this past year.
ADP plans to integrate Asparity into its benefits portfolio.
“Together, Asparity and ADP will be able to better meet the needs of clients that are seeking ways to streamline the annual enrollment process, contain health care costs and offer their employees more personalized solutions to help them make smarter, more informed benefits choices,” said Tim Clifford, president of benefits services at ADP, in a statement.
ADP recently introduced a Strategic Advisory Services group that will work with clients and provide them with business intelligence and analysis of benefits administration.
