Subsequent Event

3 Months Ended

Mar. 31, 2013

Subsequent Event

(13) Subsequent Event

Subsequent to the end of the first quarter of 2013, on May 1, 2013, the Company closed its acquisition of Crosby Benefit Systems, Inc., or CBS, a third party administrator of tax-advantaged consumer-directed benefits, such as flexible spending accounts, health reimbursement arrangements, COBRA continuance services, enrollment and eligibility services and commuter, based in Newton, Massachusetts. Because of the timing of when this acquisition closed, the initial accounting for this acquisition is still in process, including determining the fair value of the net assets acquired. CBS is now a division of the Company. A cash payment of $4.1 million was made on the close date and two smaller contingent consideration payments may be made to the former owners of CBS based upon future annual revenues from CBS.