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About PayFlex

PayFlex is a leading national administrator for health care accounts that complement employers’ health care and wellness programs. We started in 1987 and now have over 30 years of experience providing account-based health care solutions. 

Full suite of products and programs

Our products include health savings accounts (HSAs), flexible spending accounts (FSAs), health reimbursement arrangements (HRAs) and well-being reimbursement accounts (WRAs). Our customers also benefit from our programs such as Commuter Benefits, COBRA, Direct Billing, Adoption Assistance and Tuition Assistance. 

Proprietary platform solution

PayFlex’s proprietary platform houses our account-based products and supports integrated wellness and engagement services. Together, these form a powerful, configurable solution.  

Confidence to focus on your core business

PayFlex provides an end-to-end solution that enables you to concentrate on your core business. We’ll manage your financial benefit programs professionally, efficiently and with the highest emphasis on delivering a meaningful member experience. 

What our mission means to you

We’re here not just to administer your health care account offerings, but to help you and your employees make the most of them. You’re measuring success by the return on your investment, in both dollars and happy employees. And those are the success measures that are always top of mind. It’s why we make it simple to plan, save, and pay for personal well-being.


Meet our team


Michael DiSimone

Chief Executive Officer and President


As President and CEO of PayFlex, Mike leads the organization with the goal to fulfill its purpose: to make it simple to plan, save, and pay for personal well-being. He’s guiding PayFlex into its next chapter, delivering personalized health care solutions to educate, guide and support PayFlex members on their path to financial well-being. Mike is most passionate about helping people achieve their health ambitions, optimizing their health care dollars and delivering exceptional service to each member. He’s the visionary behind leading-edge operational strategies that build on PayFlex's strong foundation of innovation, collaboration and empowerment. As a leader, Mike is committed to bringing people together, instilling a shared vision, fostering collaboration and driving organizational development to ensure continued growth.

Prior to leading PayFlex, Mike served as Vice President of Global Business Solutions for Human Resources at Aetna, where he led employee service delivery functions. At the same time, Mike served as Head of Human Resources for the Global Finance organization and the Global Operations & Technology organization. Before joining Aetna, Mike held several executive roles, including Chief Operating Officer for North America at Mercer, Chief Financial Officer and Chief Control Officer for Human Resources at JPMorgan Chase & Co., Senior Vice President of Benefits Outsourcing at Affiliated Computer Services, and various leadership roles at Mellon Financial Corporation. Mike holds a bachelor’s degree in accounting and a Master of Business Administration in finance from Pace University, and he has completed executive education programs in general management and leadership at Columbia Business School.

Connect with Mike: LinkedIn | Twitter


Carolyn Arabolos

Chief Operations Officer


As the leader of operations, Carolyn has responsibility for Back Office, Card, Funding and Print Operations across all products. She also manages over $2 billion in assets and drives a culture of continuous improvement. With a passion for finding efficiencies and leveraging best practices, Carolyn continuously seeks to optimize the business. She has more than 25 years of experience in the health care industry and has held a number of leadership roles within collections and accounts receivable, regulatory compliance, corporate training and policy development. 

Carolyn is active with several industry groups, including the Employers’ Council on Flexible Compensation (ECFC), the Health Savings Account (HSA) Council and Aetna/CVS Government Affairs. Carolyn holds a Master of Business Administration from Patten University, as well as a Master of Arts from The Graduate Institute and an undergraduate degree in social work from St. Joseph College (now the University of St. Joseph).


Susan Bambara

Chief Marketing Officer


Susan leads the marketing team, whose focus is promoting PayFlex’s products and services through a variety of channels while educating and engaging members. Her vision is to create a positive, memorable experience for anyone who interacts with PayFlex.

Susan’s experience in sales and consulting, combined with an education and passion for marketing, led her to a unique opportunity with PayFlex. Susan was able to build a marketing team from the ground up, cultivate the PayFlex brand into a well-known industry name and shape the member experience through a myriad of marketing initiatives. Susan holds a bachelor’s degree in marketing from Bryant University in Rhode Island and a Master of Business Administration in marketing from Bentley College in Waltham, Massachusetts.


Bryan Levy

Head of Product & Strategy


Bryan leads a team of remarkable data, product, and strategy professionals accountable for bringing insights to PayFlex clients and colleagues that lead to better decision-making and innovative products, features, and digital experiences leading to better outcomes. Bryan joined PayFlex in 2019 to build new products and services, expand into new markets, and develop growth platforms for the future.

Prior to joining PayFlex, Bryan spent 15 years at Marsh & McLennan Companies in a variety of strategy and leadership roles. Bryan holds a bachelor’s degree in business administration from Boston University and a Master of Business Administration from NYU Stern School of Business.


Ben Morris

Head of Client Services


Ben joined PayFlex in September 2022 as Senior Director of Client Management. Ben brings 21 years of Banking and Consumer Directed Health Care experience. He will continue to pursue his passion for Consumer Directed Benefits with the focus on providing exceptional service to all PayFlex customers as well as innovative solutions that will help change the landscape of employee benefits.

Previously, Ben was part of the team that started the Heath Care Services division at UMB Bank. After wearing multiple hats during his tenure at UMB, he eventually led this team as it became one of the largest HSA custodians in the country. More recently, Ben helped start the Health Care Services division at Equity Bank in Wichita, KS. He has also held leadership and board positions on the American Bankers Association (ABA) HSA Council and the Employers Council for Flexible Compensation (ECFC). Ben holds an Agricultural Economics degree from the University of Missouri, as well as a Master of Business Administration from Rockhurst University.


Jeff Protextor, J.D.

Chief Control Officer


As Chief Control Officer for PayFlex, Jeff leads the Oversight and Control group and manages PayFlex’s regulatory affairs and corporate compliance program. He’s committed to leading and cultivating a culture of compliance by providing sound direction, driving a robust control environment and ensuring compliance with all legal and regulatory requirements to safeguard the accounts of our customers. Jeff serves as a liaison between PayFlex and key industry groups. He is also a board member of the Special Interest Group for IIAS Standards (SIGIS).

Prior to joining PayFlex in 2010, Jeff managed group health care compliance at Coventry Health Care of Nebraska as the HIPAA Privacy Officer and managed regulatory compliance for group insurance products at Mutual of Omaha. He has more than 20 years of legal and regulatory compliance experience, specializing in the areas of employee benefits, health insurance and tax-advantaged accounts. Jeff holds a bachelor’s degree in political science with a concentration in public administration from the University of Nebraska and received his Juris Doctorate from Creighton University School of Law.