EBS Benefit Solutions and RMSCO Merging to Streamline Customer Services

ROCHESTER, NY (02/01/2008)(readMedia)-- EBS Benefit Solutions and RMSCO today announced their intentions to merge and become one of the largest employee benefits administration companies in New York state.

The organizations are separate subsidiaries of The Lifetime Healthcare Companies, a Rochester-based corporation. With the merger, the combined entity anticipates annual revenue of $40 million.

“This is a very exciting opportunity for us to use the strengths of two complimentary organizations to offer our existing clients more services,” said Gus A. Platas, who will lead the new company as president. “More and more, employers are looking for one-stop shopping for their employee benefit and risk management needs - and this will allow us to serve our customers more efficiently and effectively.”

As a stand alone subsidiary, EBS’ sole focus has been on providing comprehensive employee benefits outsourcing. Its primary services include debit cards for Section 125 Flexible Spending Accounts and Section 105 Health Reimbursement Accounts, Section 401 K Plan bundled services, actuarial services for pension plans and retiree health care benefits, and administration of self funded health plans. Established in 1974, EBS provides innovative benefits solutions to nearly 3,000 clients in the United States.

RMSCO has offered employers a comprehensive portfolio of services and insurance programs to manage its clients’ risks – claim administration for self-funded Workers' Compensation, disability benefits, medical, dental, Section 125 and liability programs. RMSCO represents most major insurance carriers for property, casualty, group and life products and serves nearly 200 clients - representing 200,000 covered lives - nationwide.

“Merging these two companies allows us to expand the range of our services offered to the marketplace, especially self-funded medical and dental plans,” said Joan Osier, who will serve as regional president of the new company in Central New York, responsible for managing third-party administration operations. “The efficiency will help hold down the cost for our customers.”

EBS-RMSCO will be headquartered in Rochester, N.Y. with primary offices in Liverpool, Syracuse, Buffalo, Albany, Quincy, MA., West Orange, N.J. and Ravenswood, W. Va.

Gregory A. Cohen has been appointed senior vice-president and will be responsible for implementing the transition to a unified organization. EBS-RMSCO employs about 435 people who serve more than 3,000 clients across the United States.

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The Lifetime Healthcare Companies is a non-profit, mission-driven organization that strives to improve the lives of the people in the communities it serves. With nearly 7,000 employees in about 30 locations in upstate New York, the company provides health insurance coverage to about 2 million people; provides health care services through its medical group and home care agency; and finances long-term care throughout the United States.