Nexben
- Company typePrivate
- Founded2023
- HeadquartersMinneapolis, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
Nexben firmographics
Firmographics- Name
- Nexben
- Legal name
- Nexben, Inc.
- Website
- https://nexben.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Nexben industry classification
Industry- Product category
- Health Benefits Administration Software
- NAICS
- Insurance Agencies and Brokerages (52421), Insurance Carriers and Related Activities (524)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Medicare Plan Distribution & Brokerage (Captive, Independent, FMOs) (FSAIAGAH)
- akta.pro secondary industries
- Medigap Distribution & Brokerage (Captive/Independent/IMO/FMO) (HLAEADAD), Data, Analytics & AI for Insurance (Risk, Pricing, Personalization) (FSAGAGAE), Identity, Fraud & Insurance-Specific RegTech Platforms (FSAGAGAJ)
Keywords
Where Nexben is headquartered
LocationHeadquarters
- HQ city
- Minneapolis
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Nexben business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Administrative Fees per Enrollee: Employers pay Nexben an administrative fee per enrollee per month for employees actively using the platform. No minimum enrollment requirements, setup fees, or renewal fees.
- FMO Broker Support Services: Nexben operates as a Field Marketing Organization providing brokers with quoting tools, enrollment platforms (goXpress), training, marketing support, and carrier access for Medicare, Individual Health, Ancillary, and Group Services products.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Per enrollee per month administrative fee |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Nexben product offering
Product offeringCore offering
Nexben operates a fintech platform that administers Individual Coverage Health Reimbursement Arrangements (ICHRA) and defined contribution health benefits, featuring a patent-pending payment solution that eliminates employee reimbursement and distributes employer contributions directly to insurance carriers. The company also runs a Field Marketing Organization (FMO) providing brokers with quoting, enrollment, training, and marketing support across Medicare, Individual Health, Ancillary, and Group Services product lines.
Product overview
Nexben is a financial technology company operating a dual-platform model consisting of (1) its core ICHRA platform providing end-to-end administration and payment technology for Individual Coverage Health Reimbursement Arrangements, and (2) its FMO (Field Marketing Organization) platform offering brokers resources, training, and product access across Medicare, Individual Health, Ancillary, and Group Services. The ICHRA platform handles defined contribution benefit administration, premium payments, reconciliation, and ACA compliance reporting, while the FMO platform provides goXpress Enroll (Medicare quoting/enrollment), goXpress Insights (analytics), the Nexben Partner Portal, and ancillary products including GlicRx prescription discount program. The company partners with eHealth for ICHRA marketplace integration and works with numerous insurance carriers across its FMO product lines.
Differentiator
Problem solved
Functional benefit
Brands
- Nexben FMO: Field Marketing Organization providing sales support, training, and resources for health benefits brokers and agents across the US.
Products and services
- ICHRA Platform End-to-end ICHRA administration and payment technology platform enabling employers to offer defined contribution health benefits through Individual Coverage Health Reimbursement Arrangements. Handles enrollment, premium payments to carriers, reconciliation, and ACA compliance reporting.
- Nexben FMO (Field Marketing Organization) A Field Marketing Organization platform providing brokers with resources, training, and support across Medicare, Individual Health, Ancillary, and Group Services product lines. Includes quoting tools, enrollment platforms, marketing support, and dedicated field sales consultants.
- goXpress Enroll Medicare quoting and enrollment platform providing agents with quoting capabilities, customer relationship management, and call recording functionality for Medicare product enrollment.
- goXpress Insights Analytics and reporting tool for Medicare enrollment and business performance tracking.
- ICHRA Estimator Interactive tool for brokers and employers to estimate and plan ICHRA defined contribution strategies and affordability calculations.
- Ancillary Products Supplementary health benefit products including hospital, indemnity, dental, vision, and travel insurance offered through carrier partnerships via the FMO.
- Group Services Small group business services through BCBSM partnerships, providing brokers with support for group health insurance client management.
- Individual Health Products ACA marketplace and individual medical products including tools for enrollment, certification, and compliance.
- Medicare Products Medicare-specific products and resources including quoting platforms, enrollment tools, and carrier partnerships with Aetna, Ameritas, Anthem, BCBSM, Cigna, Humana, and other Medicare carriers.
Quantifiable outcome
- Over 60% savings in annual premiums for employers switching from group plans to ICHRA
- +2 more outcomes
Companies that use Nexben
Customer profileNamed customers6 records
Segments6 records
Ideal customer profiles4 records
Nexben technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature5 records
Nexben partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered flagship, minor and core.
- eHealthflagshipeHealth (NASDAQ: EHTH), an online health insurance marketplace, partnered with Nexben to launch an Individual Coverage Health Reimbursement Arrangement (ICHRA) solution. The partnership combines eHealth's marketplace and enrollment capabilities with Nexben's ICHRA administration and payment technology. It provides benefit brokers with quoting technology, insurer integration, and agent of record maintenance capabilities. Employees can compare and enroll in plans from approximately 50 national and regional carriers.
- Aetna Medicare SolutionminorCarrier partner offering Medicare products through Nexben's FMO distribution channel.
- AmeritasminorCarrier partner available through Nexben's FMO product portfolio.
- AnthemminorCarrier partner available through Nexben's FMO product portfolio.
- BCBSM (Blue Cross Blue Shield of Michigan)coreKey carrier partner for group and Medicare products through Nexben's FMO, with dedicated BCBSM contact sheet and specialized support resources.
- CignaminorCarrier partner available through Nexben's FMO product portfolio.
- HumanaminorCarrier partner available through Nexben's FMO product portfolio.
- UnitedHealthCareminorCarrier partner available through Nexben's FMO product portfolio.
- Priority HealthminorCarrier partner offering Medicare and Individual Products through Nexben's FMO with dedicated product training for 2027 plan year.
- HAP (Health Alliance Plan)minorCarrier partner available through Nexben's FMO product portfolio.
- Trinity HealthminorCarrier partner offering Medicare Products through Nexben's FMO with dedicated product training for 2027 plan year.
- McLaren Health PlanminorCarrier partner available through Nexben's FMO product portfolio.
- Delta DentalminorDental carrier partner available through Nexben's ancillary product offerings.
- VSP Vision CareminorVision carrier partner available through Nexben's ancillary product offerings.
- Michigan Planners Inc. (MPI)minorNexben partnered with MPI on Group Services to provide brokers with best-in-class support and resources. Webinar and overview materials available for the partnership.
- GlicRxminorGlicRx's no-cost prescription discount program available through Nexben's ancillary offerings, helping brokers earn commissions while providing savings to clients.
- CareSourceminorCarrier partner available through Nexben's FMO product portfolio.
Scale indicators7 records
Recent moves5 records
Expansion highlights5 records
Nexben competitors and assessment
Company assessmentDirect peers
- Take Command Health: Direct ICHRA administration and defined contribution platform competitor. Offers employer ICHRA setup, employee reimbursement management, and carrier integrations—directly overlapping with Nexben's core ICHRA platform value proposition for employers and brokers.
- Remodel Health: ICHRA-focused administration platform competing for the same employer and broker segments as Nexben. Provides ICHRA setup, compliance, and ongoing administration with similar defined contribution positioning.
- PeopleKeep: ICHRA administration platform owned by Vertical Bridge, providing defined contribution health benefit setup and management for small employers. Directly comparable on product, customer (SMB employer), and GTM motion to Nexben's ICHRA platform.
- SimplyInsured: ICHRA and small group health insurance administration platform serving employers and brokers. Overlaps with Nexben on ICHRA platform technology, broker distribution model, and SMB-to-mid-market employer target.
- Zane Benefits: Early ICHRA administration and defined contribution platform with comparable employer-facing technology, compliance support, and carrier integration model.
Emerging players
- Thatch: Emerging ICHRA-focused platform targeting small and mid-sized employers with a modern fintech-style UX. Compares to Nexben's ICHRA platform on product category and target segment, though smaller in scale.
- HealthSherpa: ACA marketplace and quoting/enrollment platform integrated into Nexben's broker toolkit. Adjacent in enabling ICHRA distribution through quoting technology, though HealthSherpa focuses on individual market enrollment rather than employer-side administration.
Broad incumbents
- Integrity Marketing Group: Largest US independent distributor of life and health insurance operating an FMO-style distribution model. Compares to Nexben's FMO business on broker distribution, Medicare/ancillary products, and carrier relationships, though at vastly greater scale.
- Benefitfocus (Voya): Established benefits administration platform for employers and carriers, now part of Voya Financial. Compares to Nexben on benefits administration technology and employer/carrier customer base, though serves a broader portfolio beyond ICHRA-specific defined contribution.
- bswift (HCM): Benefits administration and exchange platform serving large employers with defined contribution and consumer-driven health plan tools. Overlaps with Nexben's defined contribution administration capabilities but is positioned as an enterprise incumbent rather than an ICHRA specialist.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Nexben social profiles
Digital presenceNexben compliance and trust
Trust signalCompliance1 record
Nexben financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nexben leadership team
Management profileNumber of profiles
Profiles6 records
Nexben funding detail
Funding detailFunding overview
Funding rounds4 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nexben M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nexben
What does Nexben do?
Nexben operates a fintech platform that administers Individual Coverage Health Reimbursement Arrangements (ICHRA) and defined contribution health benefits, featuring a patent-pending payment solution that eliminates employee reimbursement and distributes employer contributions directly to insurance carriers. The company also runs a Field Marketing Organization (FMO) providing brokers with quoting, enrollment, training, and marketing support across Medicare, Individual Health, Ancillary, and Group Services product lines.
Is Nexben a public or private company?
Nexben is a private company. It is classified as private equity controlled and is currently operating.
When was Nexben founded?
Nexben was founded in 2023. It employs 51 to 100 people.
Where is Nexben based?
Nexben is headquartered in Minneapolis, United States, in the North America region.
How does Nexben make money?
Two revenue lines are on record. Administrative Fees per Enrollee is the primary driver. The others are FMO Broker Support Services.
Who are Nexben's main competitors?
Direct peers on record are Take Command Health, Remodel Health, PeopleKeep, SimplyInsured and Zane Benefits. Emerging players are Thatch and HealthSherpa. Broad incumbents are Integrity Marketing Group, Benefitfocus (Voya) and bswift (HCM).
Does Nexben have an API?
No public API is recorded for Nexben.
What industry is Nexben in?
Nexben's product category is Health Benefits Administration Software. Its primary akta.pro industry code is FSAIAGAH, Medicare Plan Distribution & Brokerage (Captive, Independent, FMOs), with a secondary code of HLAEADAD, Medigap Distribution & Brokerage (Captive/Independent/IMO/FMO). Its NAICS code is 52421 and its SIC code is 6411.