06/23/2021 | Press release | Distributed by Public on 06/23/2021 15:29
GRAND FORKS, NORTH DAKOTA (June 23, 2021) - Alerus is pleased to announce it has been named a 2020 Circle of Excellence Partner by the health division of WEX, a financial technology service provider. The Circle of Excellence designation recognizes top partners for their passion and commitment to delivering the WEX benefit platform.
'Our clients rely on us to establish and manage successful benefit solutions,' said Brian Overby, president of Alerus Retirement and Benefits. 'By utilizing one of the leading technology platforms, we're able to provide an efficient and user-friendly experience for our clients and their employees.'
Alerus provides employee benefits plans to clients across the country. The company utilizes the WEX technology platform for benefits services including health savings accounts (HSAs), flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), voluntary employees' beneficiary associations (VEBAs), COBRA accounts, and commuter benefits programs. As of March 31, 2021, Alerus held $210 million in health savings account (HSA) assets for 1,354 clients and over 59,000 HSA participants. The company also provides FSA/HRA/VEBA services for nearly 1,000 clients and more than 57,000 participants, and COBRA services for more than 3,000 clients.
Health benefits are one part of the integrated solutions Alerus offers to provide clients and their employees a seamless experience. Alerus is a nationally ranked retirement plan provider with more than $30 billion in assets under administration for more than 7,500 employer-sponsored retirement plans and 350,000 retirement plan participants.
Alerus (Alerus Financial, N.A.) is a diversified financial services company headquartered in Grand Forks, ND. Alerus provides innovative and comprehensive financial solutions to businesses and consumers through four distinct business segments-banking, retirement and benefit services, wealth management, and mortgage. These solutions are delivered through a relationship-oriented primary point of contact along with responsive and client-friendly technology. Alerus Financial banking and wealth management offices are located in Grand Forks and Fargo, ND, the Minneapolis-St. Paul, MN metropolitan area and Scottsdale and Mesa, AZ. Alerus Retirement and Benefits plan administration offices are located in St. Paul, MN, East Lansing, MI, and Littleton, CO.