UMB Healthcare Services, a division of UMB Financial Corp. of Kansas City, Mo., bought the health spending accounts of Benefit Administrators, a third-party administration division of E.G. Lee & Co. Insurance Services Inc. in Lafayette, Calif.
UMB Healthcare bought 315 health savings and 308 medical savings accounts with $3.6 billion of total assets.
The purchase closed last week. The price was not disclosed.
UMB Healthcare services health savings, flexible spending, and health reimbursement accounts. Its parent has 136 bank branches in Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, and Arizona.
