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Empyrean Benefit Solutions - H&W Services

Vendor Analysis

by NelsonHall Analyst

published on Sep 01, 2014

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Report Overview:

An analysis of Empyrean's H&W services including H&W administration, spending account administration, and COBRA administration.

Who is this Report for:

NelsonHall's H&W Services Vendor Assessment for Empyrean Benefit Solutions (Empyrean) is a comprehensive assessment of Empyrean's H&W offering and capabilities, designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of H&W and identifying vendor suitability for H&W RFPs
  • Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
  • Financial analysts and investors specializing in the H&W sector.

Scope of this Report:

The report provides a comprehensive and objective analysis of Empyrean's H&W offering, capabilities, and market and financial strength, including:

  • Identification of the company's strategy, emphasis, and new developments
  • Analysis of the company's strengths, weaknesses, and outlook
  • Revenue estimates
  • Analysis of the profile of the company's customer base including the company's targeting strategy and examples of current contracts
  • Analysis of the company's offerings and key service components
  • Analysis of the company's delivery organization including the location of delivery locations.

Key Findings & Highlights:

Empyrean Benefit Solutions (Empyrean), founded in 2006 and headquartered in Houston, Texas, is a U.S. based benefits administration provider focusing on the provision of health and welfare (H&W) services.

The company's H&W service offering includes H&W administration (enrollment, life events processing, eligibility management / determination, direct billing, total compensation statements); spending account administration (FSA, HSA, HRA, commuter benefits); and COBRA administration.

Until last year, Empyrean was primarily focused on targeting large market organizations for its H&W services defined as those with >10k employees. In H2 2012, the company launched a specific mid-market offering, EnrollmentPoint, to facilitate business growth.

In total, Empyrean has ~220 benefits administration clients across its entire book of business and serves ~1.2m participants.

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Strengths
  • Challenges
  • Outlook

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