Ascensus Continues to Expand Retirement and Consumer-Directed Healthcare Capabilities with Agreement to Acquire Benefit Planning Consultants, Inc.

DRESHER, Pa., April 25, 2018 /PRNewswire/ -- Ascensus, a technology-enabled solutions provider that helps more than 8 million Americans save for the future, has entered into an agreement to acquire Benefit Planning Consultants, Inc. (BPC). Headquartered in Champaign, IL, BPC is a diversified third-party administrator (TPA) that provides retirement and consumer-directed healthcare (CDH) solutions. The firm assists businesses with the design, implementation, and administration of retirement plan services (such as 401(k), 403(b), 457, money purchase, profit sharing and employee stock owner ship plans) and benefit plan services (such as flexible spending accounts, health reimbursement arrangements, health savings accounts, and COBRA).

BPC, which was founded in 1979, serves clients across the nation by providing comprehensive retirement and benefit administration solutions with unmatched customer service. Its business practices, culture, and community involvement have earned accolades from numerous industry and business organizations for service and excellence, including recognition for being one of the Best Places to Work in Illinois in 2013, 2015, 2016, and 2017. Most notably, BPC was among the first TPAs in the country to earn certification from the Centre for Fiduciary Excellence, LLC (CEFEX) for Retirement Plan Administration Service.

"BPC is a great fit for Ascensus from both business and cultural standpoints," states David Musto, Ascensus' president. "Designing benefit and retirement plans that meet the needs of companies and their employees while treating clients with the utmost care and respect is very much in line with our mission of helping Americans save for the future—BPC's talented group of associates will no doubt be an outstanding addition to the Ascensus team."

"At BPC, we've always said that we're small enough to care and large enough to do the job right," says Habeeb Habeeb, BPC's president and chief executive officer. "We'll continue to maintain that mentality as part of Ascensus, taking advantage of our combined resources so that we can continue to bring passion to our work while placing a high value on our relationships with clients and partners."

"With BPC, we are excited by the prospect of adding a hybrid TPA that provides a combination of retirement and CDH/benefit continuation services along with a fantastic service delivery reputation," says Raghav Nandagopal, Ascensus' executive vice president of corporate development and M&A. "We are committed to aggressively growing our CDH and benefit continuation offerings; adding BPC right after our acquisition of Chard Snyder fits this strategy."

"We will continue to execute on multiple paths to success by acquiring not only standalone retirement TPAs, but also retirement plus CDH/benefit continuation TPAs as we seek to leverage the ongoing consolidation in the health and wealth market segments," concludes Nandagopal. 

About Ascensus  
Ascensus helps more than 8 million Americans save for the future—retirement, education, and healthcare—through technology-enabled solutions. With more than 35 years of experience, the firm offers tailored solutions that meet the needs of asset managers, banks, credit unions, state governments, financial professionals, employers, and individuals. Ascensus supports over 54,000 retirement plans, more than 4 million 529 education savings accounts, and a growing number of ABLE savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. As of December 31, 2017, Ascensus had over $163 billion in total assets under administration. For more information about Ascensus, visit

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Posted on April 26, 2018 .

Holiday Hours

BPC offices will be closed for the Holidays according to the following Schedule:

Thursday November 16, 2017 for a client event
Thursday November 23, 2017 for Thanksgiving
Friday November 24, 2017 for Thanksgiving
Monday December 25, 2017 for Christmas
Tuesday December 26, 2017 for Christmas
Friday December 29, 2017 for New Year's Eve (closed after 12 Noon)
Monday January 1, 2018 for New Year's Day

We wish you a happy and Safe Holiday season

Posted on November 8, 2017 .

2018 Limits

While inflation remained low through 2017, certain key benefit plan limits have increased slightly for 2018. This week the IRS officially announced those limit adjustments for various health, retirement and fringe benefit plans. General IRS information about these notices is available here for Health & Welfare plans and here for Retirement plans.

The Health Flexible Spending Account (FSA) employee contribution limit will increase to $2,650. This limit also applies to any Limited-Purpose Health FSA plans. Dependent Care contribution limits are not indexed to inflation, and thus remain unchanged at $5,000 per year per household (or $2,500 if married and filing a separate tax return).

Although announced earlier this year, we will also remind you that Health Savings Account (HSA) contribution limits will increase slightly to $3,450 for self-only coverage and remain unchanged at $6,900 for family coverage.

A relatively new benefit plan type – Qualified Small Employer Health Reimbursement Arrangements (QSEHRA) has inflation-adjusted maximum reimbursement thresholds.  The plans can be established by small employers as standalone HRAs to reimburse individual medical premiums and other medical expenses.  The reimbursement limits for 2018 will increase to $5,050 for single coverage and $10,250 for family coverage. 

Qualified Transportation and Parking Benefits will each have monthly reimbursement limits rise to $260.  

Certain Retirement Plan limitations were also modified slightly. Most notably, the 401k plan elective deferrals limit has increased to $18,500. See the chart below for other key retirement plan limits for 2018. 

2018 limits-2.jpg
Posted on September 19, 2017 .

HSA Limit Changes for 2018

The IRS released 2018 limits for Health Savings Accounts (HSAs) and qualified High Deductible Health Plans (HDHPs).

The newly adjusted limits for 2018 must be adhered to in order for a health plan to maintain its qualified status as an HDHP and to remain compatible with an HSA.

Posted on May 22, 2017 and filed under HSA, HRA.