Benefit Associates Inc. and Benefit Consultants Inc. revealed their plans to merge in March. Terms of the deal were not disclosed.
The two companies have not selected a common name, and will continue to operate under both names “for the next few months,” they said.
Also, the companies have not ironed out who will lead the organization. For the time being, Benefit Consultants President Russ Stuart and Benefit Associates CEO Bryan Brenner will “collaborate” to lead the organization.
“Our industry is transforming along with the whole health care landscape,” Stuart said in a statement. “We didn’t want to watch from the sidelines and wait to see what might happen. Instead, we’re acting now to increase our strength and our ability to meet the demands on our customers.”
According to the most recent IBJ statistics, Benefit Associates ranks as the area’s 13th-largest employee benefits services firm and Benefit Consultants ranks 23rd.
As of Jan. 1, 2008, Benefit Associates had 27 employees and Benefit Consultants had 12.