Voya to acquire Benefit Strategies as part of push into HSAs
Bloomberg
Terms of the deal were not disclosed.
The acquisition will accelerate Voya s expansion into the health savings and spending accounts market and support its workplace growth strategy, said Rob Grubka, CEO of health solutions for Voya, in a news release Monday. In addition to complementing Voya s current health and wealth solutions, Benefit Strategies will deepen our capabilities to serve new and existing health savings and spending account clients through its enhanced call center support, implementation management and ongoing client services, Mr. Grubka said.
The deal, which is expected to close in the third quarter of 2021, will also boost Voya s investment management business, which manages invested assets in Voya s health savings accounts, the news release said.