Employee Benefits Corporation
Employee Benefits Corporation is a 100% employee-owned, Middleton, Wisconsin-based third-party administrator of FSA, HSA, HRA, LSA, COBRA, commuter, and Medicare Advantage supplemental benefits for employers, insurance consultants, and health plans across the United States.
- Company typePrivate
- Founded1989
- HeadquartersMiddleton, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Employee Benefits Corporation does
Employee Benefits Corporation (EBC) is a national third-party administrator of consumer-directed employee benefit accounts, headquartered in Middleton, Wisconsin, and operating as a 100% employee-owned company under an Employee Stock Ownership Plan (ESOP). Founded in 1989, EBC administers flexible spending accounts (FSA), health savings accounts (HSA), health reimbursement arrangements (HRA), lifestyle spending accounts (LSA), commuter benefits, COBRA continuation coverage, premium-only plans, billing services, and compliance services for employers across all 50 states. The company has more recently extended its administration capabilities into Medicare Advantage supplemental benefits for health plan partners, offering a configurable debit card with SKU-level OTC approval and co-branded materials.
EBC's platform centers on the EBCentral participant web portal and mobile application, supported by a Benefits Card with Inventory Information Approval System (IIAS) integration via SIGIS for automatic substantiation, digital wallet support (Apple Pay, Google Pay, Samsung Pay), real-time push notifications, and AI-driven OCR for receipt and documentation validation. HSA services are delivered in partnership with Pacific Life (high-yield interest option) and WealthCare Saver (custody, investment, and account management). The company is privately held, reports no external funding, and has no disclosed parent or acquisition activity.
Revenue is generated primarily through recurring third-party administration fees charged to employers, insurance consultants/brokers, and health plans on a quote-based, multi-year contract basis, with a small affiliate referral stream from FSA Store and HSA Store. Go-to-market is sales-led direct to employers supplemented by an insurance consultant channel; individual participants access accounts through the self-serve EBCentral portal and mobile app. The customer base is horizontally diversified across four segments (employers, benefits consultants, health plans, and individual participants) with no single customer concentration evident in public materials.
Employee Benefits Corporation firmographics
Firmographics- Name
- Employee Benefits Corporation
- Legal name
- Employee Benefits Corporation
- Website
- https://ebcflex.com
- Company type
- Private
- Founded year
- 1989
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Employee Benefits Corporation is a 100% employee-owned, Middleton, Wisconsin-based third-party administrator of FSA, HSA, HRA, LSA, COBRA, commuter, and Medicare Advantage supplemental benefits for employers, insurance consultants, and health plans across the United States.
- Ownership category
- akta.pro rank
Employee Benefits Corporation industry classification
Industry- Product category
- Third-Party Benefits Administration
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Insurance and Employee Benefit Funds (5251)
- SIC
- Hospital & Medical Service Plans (6324), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)
- akta.pro secondary industries
- Benefits Administration (BPACAPAC), Benefits Administration & Enrollment Support (BPAAAIAB), Workforce Benefits Administration (Enrollment & Deductions) (BPACAIAF), Eligibility, Enrollment & Benefits Administration (HLAEALAH)
Keywords
Where Employee Benefits Corporation is headquartered
LocationHeadquarters
- HQ city
- Middleton
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Employee Benefits Corporation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Third-Party Administration Fees: EBC operates as a third-party administrator (TPA) for employer-sponsored benefit plans, charging fees for administering flexible spending accounts, health savings accounts, health reimbursement arrangements, COBRA, and other benefit programs.
- Medicare Advantage Supplemental Benefits Administration: EBC provides administration services for Medicare Advantage plans, offering supplemental benefits including OTC, dental, vision, and wellness with configurable platform and white-glove support.
- Affiliate Referrals: EBC earns referral fees from FSA Store and HSA Store affiliate links without additional cost to users.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | B2B service model - pricing negotiated per employer/client |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Employee Benefits Corporation product offering
Product offeringCore offering
Employee Benefits Corporation (EBC) is a third-party administrator that administers consumer-directed benefit accounts and related compliance services on behalf of employers, benefits consultants, and health plans. Core services include Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA), Lifestyle Spending Accounts (LSA), Commuter Benefits, Premium Only Plans (POP), COBRA administration, and Medicare Advantage supplemental benefits administration. The company delivers these offerings through its EBCentral cloud platform with a participant mobile app.
Product overview
Employee Benefits Corporation (EBC) is a national third-party administrator offering a full suite of consumer-driven benefit solutions under a single platform. The core offering centers on consumer-directed accounts — FSA, HSA, HRA, LSA, and Commuter Benefits — supplemented by COBRA administration, billing services, Premium Only Plans, and a Compliance Services module. EBC also provides Medicare Advantage supplemental benefits support with a configurable debit card and AI-assisted claims processing. All participant-facing functionality is accessible through the EBCentral mobile app and web portal. The company operates exclusively in the United States and is employee-owned.
Differentiator
Problem solved
Functional benefit
Brands
- EBCentral: Mobile application for managing benefits accounts, viewing card details, submitting claims, and receiving real-time notifications.
Products and services
- Flexible Spending Account (FSA) Third-party administration of employer-sponsored Flexible Spending Accounts, allowing employees to set aside pre-tax dollars for eligible medical, dental, vision, and dependent care expenses. Includes the EBCentral participant portal and Benefits Card (with IIAS merchant classification) for point-of-sale eligibility at checkout.
- Health Savings Account (HSA) Third-party administration of HSAs paired with HDHP coverage, including account setup, contributions, debit-card transactions, and reporting. Supported by the EBCentral platform and mobile app.
- Health Reimbursement Arrangement (HRA) Administration of HRAs funded by employers to reimburse employees for qualified medical expenses, with claims management, debit-card support, and reporting through EBCentral.
- Lifestyle Spending Account (LSA) Administration of Lifestyle Spending Accounts, an emerging employer-funded benefit that gives employees a taxable allowance for wellness, family care, or other lifestyle expenses defined by the employer.
- Commuter Benefits Administration of pre-tax commuter benefit programs under Section 132, including transit and parking accounts, delivered through EBCentral with the Benefits Card for point-of-sale use.
- COBRA Administration Full-service COBRA continuation coverage administration for employer groups, including qualifying event tracking, notice generation, premium billing and collection, and ongoing participant support, intended to reduce employer compliance risk.
- Premium Only Plan (POP) Section 125 Premium Only Plan administration allowing employees to pay their share of health insurance premiums with pre-tax dollars, reducing employer FICA tax liability.
- Compliance Services Broader compliance administration services including ERISA, HIPAA, and Section 125 support, plus ongoing regulatory updates, plan documents, and employer/consultant compliance resources.
- Billing Services Outsourced billing and premium collection services for employer-sponsored benefit plans, including reconciliation and participant-level reporting.
- Medicare Advantage Supplemental Benefits Administration Administration of supplemental benefits (e.g., dental, vision, hearing, over-the-counter) for Medicare Advantage health plan members, delivered through the Benefits Card with SIGIS IIAS merchant classification and supported by AI-driven OCR for receipt and documentation processing.
Quantifiable outcome
- Tax savings of approximately 30% on eligible expenses through pre-tax contributions
- +3 more outcomes
Companies that use Employee Benefits Corporation
Customer profileNamed customers2 records
Segments5 records
Ideal customer profiles3 records
Employee Benefits Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature4 records
Employee Benefits Corporation partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- FSA StoreminorFSA Store is an affiliate partner where EBC directs participants to shop for FSA-eligible products. EBC earns referral fees through affiliate links at no additional cost to users.
- HSA StoreminorHSA Store is an affiliate partner where EBC directs participants to shop for HSA-eligible products. EBC earns referral fees through affiliate links at no additional cost to users.
- Pacific LifecorePacific Life backs EBC's high-yield HSA option, providing insurance backing for enhanced interest rates. Pacific Life manages over $191B in assets and is highly rated by major rating agencies.
- WealthCare SavercoreWealthCare Saver serves as the HSA custodian for EBC, providing the platform for HSA account management, interest options, and investment services.
- SIGIS (Special Interest Group for IIAS Standards)coreSIGIS certifies retailers to automatically verify eligible expenses at the register through inventory information approval system (IIAS). EBC leverages SIGIS certification for Benefits Card transactions.
Scale indicators4 records
Recent moves5 records
Expansion highlights5 records
Employee Benefits Corporation competitors and assessment
Company assessmentDirect peers
- HealthEquity: HealthEquity is the largest HSA custodian and a direct competitor in consumer-directed benefit administration, including HSA, FSA, HRA, and COBRA. Following its acquisition of WageWorks and Further, it competes head-to-head with EBC for employer-sponsored benefits accounts nationwide.
- WageWorks (HealthEquity): WageWorks is a long-standing TPA for FSA, HRA, HSA, commuter, and COBRA benefits. Now operating under HealthEquity, it directly competes with EBC for the same employer and consultant buyers across all 50 states.
- Benefitfocus: Benefitfocus is an enterprise benefits administration platform serving employers, carriers, and consumers with a comparable suite of health and welfare benefit solutions, including exchange and enrollment tools that overlap with EBC's offerings.
- bswift: bswift is a benefits administration technology provider offering an integrated platform for benefits enrollment, ACA reporting, COBRA, and consumer-driven accounts. It directly competes with EBC for mid-market and enterprise employer relationships.
- PlanSource: PlanSource is a benefits administration platform specializing in benefits shopping, enrollment, and ongoing administration for employers of all sizes. Its product scope and target market closely mirror EBC's mid-market employer focus.
- Navia Benefits: Navia Benefits is a third-party benefits administrator offering FSA, HSA, HRA, COBRA, and commuter benefit plans to employers across the U.S., making it a direct competitor to EBC in the mid-market TPA space.
- BASIC: BASIC is a TPA focused on COBRA, FSA, HSA, HRA, and retiree billing administration. It serves employer clients across multiple industries, directly overlapping with EBC's core product set and customer segments.
Broad incumbents
- ADP (Benefits Administration): ADP is a large incumbent in payroll, HR, and benefits administration, offering FSA, HSA, COBRA, and consumer-directed benefit products as part of its broader HCM suite. It competes with EBC primarily at the upper end of the employer market, often through partnerships with benefits consultants.
- Paychex (Benefits Administration): Paychex is a large payroll and HR solutions provider that bundles benefits administration, retirement, and insurance services for SMB and mid-market employers. It is a broader incumbent competitor with overlapping FSA/HSA administration capabilities.
Emerging players
- OneSource Virtual: OneSource Virtual provides Workday-focused benefits administration, COBRA, and ACA compliance services to mid-market and enterprise employers. It is an emerging player with overlapping product scope to EBC, particularly for clients running Workday HCM.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks4 records
Key highlights7 records
Customer concentration
Employee Benefits Corporation social profiles
Digital presenceEmployee Benefits Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Employee Benefits Corporation leadership team
Management profileNumber of profiles
Employee Benefits Corporation funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Employee Benefits Corporation M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Employee Benefits Corporation
What does Employee Benefits Corporation do?
Employee Benefits Corporation (EBC) is a third-party administrator that administers consumer-directed benefit accounts and related compliance services on behalf of employers, benefits consultants, and health plans. Core services include Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA), Lifestyle Spending Accounts (LSA), Commuter Benefits, Premium Only Plans (POP), COBRA administration, and Medicare Advantage supplemental benefits administration. The company delivers these offerings through its EBCentral cloud platform with a participant mobile app.
Is Employee Benefits Corporation a public or private company?
Employee Benefits Corporation is a private company. It is classified as management employee owned and is currently operating.
When was Employee Benefits Corporation founded?
Employee Benefits Corporation was founded in 1989. It employs 101 to 250 people.
Where is Employee Benefits Corporation based?
Employee Benefits Corporation is headquartered in Middleton, United States, in the North America region.
How does Employee Benefits Corporation make money?
Three revenue lines are on record. Third-Party Administration Fees are the primary driver. The others are medicare Advantage Supplemental Benefits Administration and affiliate Referrals.
Who are Employee Benefits Corporation's main competitors?
Direct peers on record are HealthEquity, WageWorks (HealthEquity), Benefitfocus, bswift, PlanSource, Navia Benefits and BASIC. Broad incumbents are ADP (Benefits Administration) and Paychex (Benefits Administration). OneSource Virtual is listed as an emerging player.
Does Employee Benefits Corporation have an API?
No public API is recorded for Employee Benefits Corporation.
What industry is Employee Benefits Corporation in?
Employee Benefits Corporation's product category is Third-Party Benefits Administration. Its primary akta.pro industry code is HLAEALAK, Flexible Benefits Administration (FSA/HSA/HRA), with a secondary code of BPACAPAC, Benefits Administration. Its NAICS code is 524292 and its SIC code is 6324.