OCA

What OCA does

OCA, operating as OCA Benefit Services, LLC, is a privately held third-party administrator (TPA) headquartered in Mercerville, New Jersey, that delivers pre-tax benefits administration, COBRA and state continuation management, and ERISA compliance services to more than 4,000 employer clients across the United States. The company's product portfolio spans HSA, FSA, HRA (including ICHRA, QSEHRA, EBHRA), Dependent Care, Commuter, and lifestyle spending accounts, alongside COBRA administration, direct/retiree billing, wrap documents, non-discrimination testing, Form 5500 filing, and ACA reporting.

The technology foundation is a cloud-based benefits administration platform built on Alegeus's WealthCare Administration and WealthCare Saver infrastructure, augmented by OCA's proprietary ClaimsExpress real-time claims adjudication engine, ERISAExpress cloud-based wrap document builder, multi-purse debit card with auto-substantiation, and an integrated HSA investment platform offering Managed, Self-Directed, and Brokerage models via CAPTRUST and DriveWealth, plus a High-Yield HSA cash option backed by Pacific Life Insurance Company. The platform integrates with over 150 payroll, carrier, and benefits administration systems.

OCA generates revenue primarily through recurring per-employee-per-month (PEPM) or per-transaction TPA fees on administered benefit accounts, supplemented by transaction fees on COBRA participant payments (3% credit/debit surcharge; $2 ACH fee). Go-to-market is sales-led, combining direct field/inside sales with a broker/agent channel and strategic carrier partnerships—most notably a January 2025 designation as AMERIHEALTH's free COBRA administrator for fixed-funded and large group plans, and partnerships with HealthPass New York, Ease, MZQ Consulting, BMO Harris, and Pacific Life. The company expanded geographically and capability-wise in May 2025 by acquiring California-based Employer Driven Insurance Services (EDIS), a TPA specializing in self-funded and pre-tax services.

Name

OCA

Legal name

OCA Benefit Services, LLC

Website

https://oca125.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

OCA is a privately held New Jersey-based third-party administrator providing pre-tax benefits (HSA, FSA, HRA, DCA, CRA), COBRA administration, and ERISA compliance services to over 4,000 U.S. employer clients via a cloud-based platform.

Ownership category

akta.pro rank

Product category

Benefits Administration (TPA)

NAICS

Health and Welfare Funds (525120), Insurance and Employee Benefit Funds (5251)

SIC

Hospital & Medical Service Plans (6324)

akta.pro primary industry

Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)

akta.pro secondary industry

Embedded Payroll, Earned Wage Access & Benefits Finance (FSAGALAI)

Keywords

• Pre-tax benefits administration
• COBRA administration
• ERISA compliance services
• HSA FSA HRA administration
• Third-party benefits administrator

Headquarters

HQ city

New Jersey

HQ country

Trinidad & Tobago

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Benefits Administration TPA Fees: OCA charges employers for administering pre-tax benefit accounts (HSA, FSA, HRA), COBRA, and compliance services on a per-participant or per-transaction basis. Pricing is quote-based and varies by group size and services selected.
2. COBRA Administration: OCA earns fees for COBRA administration services including billing, communications, enrollment, and compliance management. For AMERIHEALTH-eligible groups, COBRA administration is offered free of charge as part of the partnership.
3. Payment Processing Fees: OCA generates fees from payment processing options for COBRA participants, including credit/debit card payments (3% surcharge) and one-time ACH bank drafts ($2 per transaction).

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels5 records

Core offering

OCA is a third-party administrator providing pre-tax benefits administration (HSA, FSA, HRA, DCA, CRA, ICHRA, QSEHRA, EBHRA), COBRA and State Continuation administration, and ERISA compliance services (wrap documents, Form 5500 filing, ACA reporting, non-discrimination testing) to employers, brokers, insurance carriers, PEOs, and financial institutions. All services are delivered through an integrated cloud-based platform with a multi-purse debit card, real-time claims adjudication, and 150+ payroll/carrier system integrations.

Product overview

OCA provides a unified pre-tax benefits administration and COBRA management platform designed for employers, brokers, insurance carriers, PEOs, and financial institutions. The product portfolio consists of three integrated pillars: (1) Consumer-Empowered Benefits including Health Reimbursement Arrangement (HRA), ICHRA, QSEHRA, EBHRA, Health Savings Account (HSA), Flexible Spending Account (FSA), Dependent Care Account (DCA), Commuter Reimbursement Account (CRA), MyLife Spending Accounts, and Healthcare Concierge Services; (2) ERISA Compliance services encompassing Premium Only Plan, Non-Discrimination Testing, ERISAExpress Wrap Documents, Compass Wrap Document, Form 5500 Filing, and ACA Reporting; and (3) Premium Billing services covering COBRA/State Continuation and Direct/Retiree Billing. All benefits consolidate into a single, fully integrated, automated system with over 150 payroll, carrier, and benefits administration integrations, a multi-purse debit card with built-in auto-substantiation, real-time reporting, and brandable employer portals. The HSA product includes investment capabilities (managed, self-directed, and brokerage models) and a high-yield interest option backed by Pacific Life.

Differentiator

Problem solved

Functional benefit

Products and services

• Health Savings Account (HSA)

Quantifiable outcome

• Over 4,000 businesses use OCA to manage pre-tax benefits and COBRA administration
• +2 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• EDIS (Employer Driven Insurance Services)minorStrategic or Co-development Partner · 12 May 2025OCA acquired Employer Driven Insurance Services (EDIS), a California-based third-party administrator specializing in self-funded and pre-tax services. The acquisition aims to enhance OCA's capabilities, technological infrastructure, and geographic reach, with a focus on operational improvements and scalability.
• AMERIHEALTHcoreStrategic or Co-development Partner · 9 January 2025OCA serves as AMERIHEALTH's designated COBRA administrator for fixed-funded and large group plans with 2025 start or renewal dates, and oversees NJ State Continuation services. AMERIHEALTH-eligible employer groups receive free COBRA administration through OCA. This collaboration embeds OCA's COBRA solution within AMERIHEALTH's product offering.
• Alegeus TechnologiescoreTechnology or Integration · 22 February 2024Alegeus is OCA's core technology partner and platform provider (WealthCare Administration / WealthCare Saver). Alegeus provides the underlying technology platform for OCA's benefit administration services. Change Healthcare was identified as Alegeus's printing vendor, which OCA and Alegeus proactively disconnected during the CHC cybersecurity incident to protect client data.
• Pacific Life Insurance CompanycoreStrategic or Co-development Partner · 15 May 2023OCA offers a High-Yield HSA interest option backed by Pacific Life Insurance Company. Under this arrangement, HSA cash balances are held in a High-Yield deposit account backed by Pacific Life, offering higher interest rates than traditional options. Pacific Life manages over $209 billion in assets.
• EaseminorGTM or Marketing Partner · 1 September 2022OCA announced a partnership with Ease (effective September 1, 2022) to integrate benefits administration services into Ease's HR tech platform, expanding OCA's reach to Ease's broker and employer user base.
• HealthPass New YorkcoreGTM or Marketing Partner · 1 February 2021HealthPass New York groups can offer FSA and Commuter Benefits through OCA under this partnership. OCA administers Flexible Spending Accounts, Dependent Care Accounts, Parking Plans, and Transit Plans for HealthPass-affiliated employer groups.
• MZQ ConsultingcoreStrategic or Co-development Partner · 1 October 2020OCA partnered with MZQ Consulting as its ERISA Compliance partner. MZQ provides ERISA compliance packages including wrap documents, ERISA notices and disclosures, Form 5500/SAR preparation and filing, and ACA reporting and tracking. MZQ was founded in 2014 by an ERISA attorney and systems engineer.
• CAPTRUST (CapFinancial Partners, LLC)coreTechnology or IntegrationCAPTRUST acts as investment advisor for the HSA investments available in OCA's WealthCare Saver platform, providing investment advisory services for the Managed investment model option. CAPTRUST is an investment adviser registered under the Investment Advisers Act of 1940.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Others

• Alegeus Technologies: Alegeus is OCA's core technology partner providing the WealthCare Saver/Administration platform, but also sells its platform directly to other TPAs and in some cases competes with TPAs via its own go-to-market. It represents an ecosystem enabler/competitor whose strategy directly affects OCA's economics.

Emerging players

• Benefitfocus: Benefitfocus operates a benefits administration technology platform serving carriers, employers, and brokers. While more of a software platform than a TPA, it competes for the same employer benefits administration wallet and represents an alternative technology stack in the broader ecosystem where OCA operates.
• Further (formerly Compass Financial): Further is a consumer-directed benefit administrator offering HSA, FSA, HRA, COBRA, and commuter benefits with a modern technology platform. It directly competes with OCA in the same mid-market employer segment and serves as a relevant emerging competitor in pre-tax benefits.
• Lively: Lively is a modern HSA-focused platform offering individual and employer-sponsored HSAs with strong UX, investment options, and a self-service digital experience. While narrower than OCA (focused primarily on HSA), it competes for HSA-centric employer mandates and individual HSA accounts where OCA also operates.

Broad incumbents

• HealthEquity: HealthEquity is the largest independent HSA custodian and consumer-directed benefit administrator in the US, offering HSA, FSA, HRA, COBRA, and commuter administration. It acquired WageWorks in 2019 to consolidate the pre-tax benefits space. OCA is a much smaller specialist in the same core product categories.
• Paychex (Benefit Solutions / Optima): Paychex offers a full suite of payroll, HR, and benefits administration services including pre-tax benefit accounts (HSA, FSA, HRA, commuter) and COBRA administration. It competes with OCA primarily through its SMB payroll-anchored go-to-market and represents a broad incumbent in the same product categories.
• Optum Financial (UnitedHealth Group): Optum Financial, part of UnitedHealth Group, is a major HSA administrator and benefits platform serving millions of accounts. It offers HSA, FSA, and COBRA administration embedded within UnitedHealthcare's massive employer base, representing an enterprise incumbent that competes with OCA for large employer mandates.
• ADP TotalSource / ADP Benefits Administration: ADP is a leading payroll and benefits administration provider that bundles HSA, FSA, HRA, and COBRA services as part of its comprehensive HR/payroll offering. It is one of the largest players in the employer benefits space and competes with OCA especially through PEO and broker channels.

Direct peers

• WageWorks (now part of HealthEquity): WageWorks was historically a leading TPA for FSA, HRA, HSA, commuter, and COBRA administration, directly competing with OCA across nearly every product line. It was acquired by HealthEquity in 2019 but historically represented the closest large-scale direct competitor in pre-tax benefits administration.
• ConnectYourCare (acquired by WEX/HealthEquity): ConnectYourCare was a direct TPA competitor offering HSA, FSA, HRA, and COBRA administration for employer clients, and was acquired by WEX (now part of HealthEquity). It represented a similar mid-sized specialist model to OCA, validating the strategic value of small/mid TPAs as roll-up targets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ocatpa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OCA