Chard Snyder

Name

Chard Snyder

Legal name

Chard Snyder

Website

https://chard-snyder.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Employee Benefits Administration (Third-Party Administration)

NAICS

Health and Welfare Funds (525120), 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

Compliance, Reporting & Regulatory Administration (ERISA/ACA/No Surprises) (HLAEALAJ), COBRA & Direct Billing Administration (HLAEALAC), Disability & Leave Administration (STD/LTD/FMLA/Paid Leave) (HLAEALAM), Benefits Administration & Enrollment Support (BPAAAIAB)

Keywords

• Employee benefits administration
• Third-party administrator
• Flexible spending accounts
• Health savings accounts
• COBRA administration services

Headquarters

HQ city

Mason

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Third-Party Administration (TPA) Services: Chard Snyder operates as a Third Party Administrator (TPA) for employee benefit solutions, providing administration services for Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA), Lifestyle Spending Accounts (LSA), Commuter Benefits, COBRA, and Billing Administration. Revenue is generated through administrative fees charged to employers for managing these benefit plans.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Chard Snyder operates as a Third-Party Administrator providing administration of tax-advantaged employee benefit accounts, including Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA), Lifestyle Spending Accounts (LSA), and Commuter Benefits. The company also delivers COBRA Administration, Billing Administration, Plan Document Services, and FMLA Leave Administration to employers, supported by web portals, a mobile app, a Mastercard Benefits Card with auto-substantiation, and dedicated compliance teams.

Product overview

Chard Snyder is a Third-Party Administrator (TPA) providing employee benefit solutions through a portfolio of tax-advantaged savings and spending accounts. The core product line includes Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA), Lifestyle Spending Accounts (LSA), and Commuter Benefits, complemented by COBRA administration, Billing Administration, and Plan Document Services. Digital access is provided through a mobile app and web-based participant/employer portals. The Benefits Card serves as the primary payment mechanism for account holders. Additional services include FMLA Leave Administration, tools like My HSA Planner and Tax-Savings Calculator, and educational video content. In September 2023, Chard Snyder was acquired by WEX Inc.

Differentiator

Problem solved

Functional benefit

Products and services

• Flexible Spending Account (FSA) Pre-tax benefit account administration allowing employees to set aside money from their paychecks for eligible healthcare, dependent care, and parking/transit expenses. Available in Health FSA, Limited-Purpose FSA, and Dependent Care FSA variants for employer clients.
• Health Savings Account (HSA) Third-party administration of tax-advantaged HSAs paired with high-deductible health plans, providing participants triple tax advantages for qualified medical expenses.
• Health Reimbursement Arrangement (HRA) Third-party administration of employer-funded HRAs that reimburse employees for qualified medical expenses not covered by insurance, with employer-controlled contributions and eligibility.
• Lifestyle Spending Account (LSA) Administration of employer-customized LSAs that fund employee purchases of lifestyle products and services, with eligible expense categories defined by each employer plan.
• Commuter Benefits Pre-tax commuter benefit administration that lets employees use payroll deductions to pay for transit and parking commuting costs.
• COBRA Administration Benefit continuation services enabling former employees and dependents to maintain health insurance coverage after qualifying events, administered with UnifyHR.
• Billing Administration Administration of insurance premium collection and direct billing for employers, administered in partnership with UnifyHR.
• Plan Document Services Creation, revision, and maintenance of ERISA-compliant plan documents, Summary Plan Descriptions (SPDs), wrap plans, and Premium Only Plans to ensure regulatory compliance.
• Benefits Card Special-purpose Mastercard debit card issued to plan participants for paying eligible healthcare and benefit expenses directly from FSA, HRA, or HSA accounts at point of sale, with a stated 93% auto-substantiation rate.
• FMLA Leave Administration Administration of Family and Medical Leave Act (FMLA) leave processes for employers, ensuring compliant management of qualifying leave requests.
• Chard Snyder Mobile App Native iOS and Android mobile applications that let participants securely view account balances, submit claims, send payments, manage expenses, and scan items for eligibility from their phones.

Quantifiable outcome

• 93% auto-substantiation rate for benefit card transactions
• +1 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature7 records

Partnerships

One partnership is on record.

• UnifyHR (WEX Company)coreStrategic or Co-development PartnerChard Snyder's COBRA services and Billing Administration services are administered in partnership with UnifyHR, another WEX company. This partnership extends service capabilities for benefit continuation services to Chard Snyder clients.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/chard-snyder
• Facebookfacebook.com/chardsnyder

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Chard Snyder