Company Overview
Company Name: Accrue COBRA Management Services
Website: [Accrue COBRA Management Services](https://www.cobramanagement.com/)
Industry: Insurance
Company Size: 51-200 employees
Headquarters: 3633 136th Pl SE 205, Bellevue, WA 98006, USA
Founded: 1997
Primary Services and Products:
- COBRA Administration
- Flexible Spending Accounts (FSA)
- Health Savings Accounts (HSA)
- Commuter Benefits
- Retiree Billing
- Health Reimbursement Arrangements (HRA)
- Compliance Documentation (ERISA compliance, 5500 filing, Premium Only Plan documents, WRAP documents)
- Debit Card Payment Processing
Organizational Structure
Key Executives and Notable Employees
Tym Gilbertson
Role: Vice President of Flex Benefits
LinkedIn: [Tym Gilbertson](https://www.linkedin.com/in/tymg922)
Location: Sandy, Utah, United States
- Notable for extensive experience in benefits administration and a significant role in driving the company’s flex benefits offerings.
Allen Puckett
Role: Vice President of Client Services
LinkedIn: [Allen Puckett](https://www.linkedin.com/in/allen-puckett-a0999729)
Location: Frisco, TX, United States
- Manages a team of Client Services Specialists focused on COBRA and FSA Administration.
Vasudha Aggarwal
Role: Salesforce Certified Administrator and Implementation Manager
LinkedIn: [Vasudha Aggarwal](https://www.linkedin.com/in/vasudha-aggarwal-071aa17)
- Experienced in the healthcare/insurance industry with a strong background in Salesforce and system implementation.
Carin Sweerman
Role: Senior Finance Administrative Assistant II.
- Provides high-level administrative support within the finance department.
Yevette Cachianes
Role: Senior COBRA Account Manager / Team Lead.
- Oversees key COBRA account management tasks and leads the COBRA team.
Company Services and Solutions
Accrue COBRA Management Services specializes in providing comprehensive COBRA administration and employee benefits solutions. The company is well-regarded for its:
- Flexibility in benefits management, especially in handling COBRA and state continuation.
- Expertise in ERISA compliance and other regulatory requirements.
- Technology-backed solutions that ensure seamless and efficient benefits administration.
- Affordable compliance solutions tailored for companies of various sizes, meeting intricate and evolving needs in benefits management.
Market Position
- The company's industry sectors include Insurance, Credit Cards & Transaction Processing, and Finance.
- Recognized for affordable compliance and the seamless experience provided to brokers and employers.
- Location: Bellevue, Washington, which serves as a strategic point for operations and client interaction.
Recent Developments
- Technology Integration: The company utilizes innovative technologies such as the MyCOBRA portal to streamline benefit administration processes. This secure portal allows employers to review current and past activities, highlighting AccrueCMS’s emphasis on leveraging technology to enhance client experiences.
- COVID-19 Response: As of May 1, 2023, Accrue COBRA Management Services updated its guidelines and services to address the changes brought about by the COVID-19 pandemic, underscoring their commitment to keeping clients compliant with the latest regulatory adjustments.
Employee Perspective
Glassdoor insights reveal that Accrue COBRA Management Services maintains a conducive working environment, fostering employee growth and satisfaction. The company values its employees, indicated by structured feedback mechanisms and opportunities for career advancement.
Competitor Profiling
Key Competitors
1. MedBen
- Location and History: Newark, OH; Founded in 1938.
- Services: Comprehensive third-party administration, pharmacy solutions, wellness programs, consumer-driven health plans, dental benefits, vision benefits, and COBRA administration. MedBen excels in claims management, innovative plan design, and transparent pricing solutions.
- Key Executives:
- Kurt Harden: Chairman & CEO, oversees cost-saving and long-term strategies.
- Caroline Fraker: President, Chief Operating Officer, and Chief Privacy Officer, experienced in regulatory compliance.
- Wendell Crain: VP of Information Systems and Chief Security Officer, responsible for security measures and IT performance.
- Brian Fargus: VP of Sales & Marketing, manages sales and marketing efforts including self-funded services and consumer-driven products.
2. Group Dynamic, LLC (GDI)
- Location: Falmouth, ME; Founded in 1989.
- Services: Administration of Health Reimbursement Arrangements (HRAs), Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Transit & Parking Accounts, Retiree HRAs (VEBA), COBRA administration, Retiree Billing, Payment Solutions, and Compliance services.
- Unique Selling Proposition: Distinguished by strong compliance expertise, responsiveness, and customizable solutions.
3. Advanced Benefit Strategies (ABS)
- Location: Unionville, CT; Founded in 1993.
- Services: Administration of pre-tax employee benefits including Flexible Spending Accounts (FSA), Health Reimbursement Arrangements (HRA), Health Savings Accounts (HSA), COBRA services, and additional compliance services. ABS leverages the WEX Health Cloud platform for benefits administration.
- Technology: Utilizes advanced technology for comprehensive benefit management, offering mobile and online platforms for ease of access.
4. PayPro Administrators
- Location: Riverside, CA.
- Services: Third-party administration of COBRA, ERISA, pension, payroll, ACA filing, and various compliance services. Integrated with Employee Navigator platforms for seamless benefit management.
5. Benefit Allocation Systems, LLC (BAS)
- Services: Developer of MyEnroll360, a platform for online benefit enrollment, COBRA, FSA, HRA, ACA, premium billing, and pension. BAS's platform supports various industries including federal agencies, municipalities, educational institutions, and private companies.
- Privacy and Security: Adheres to stringent HIPAA and SOC 2 compliance standards to ensure data security and privacy.
Financial Aspects and Market Position
- MedBen is reported to be financially stable, being privately held with a leadership team having an average tenure of 27 years.
- Group Dynamic, LLC and PayPro Administrators also showcase significant financial resilience by providing advanced, tailored benefits administration services, enhancing their competitive stance.
- Advanced Benefit Strategies and Benefit Allocation Systems, LLC emphasize the importance of cutting-edge technology and comprehensive compliance to maintain market competitiveness.
