Benecon Group
Benecon Group administers self-funded health benefit programs through its VERIS Benefits Consortium for small and mid-sized employers and public sector entities across all 50 US states, serving roughly 80,000 members and $80 billion in health plan assets under management.
- Company typePrivate
- Founded1991
- HeadquartersLititz, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Benecon Group does
Benecon Group is a Pennsylvania-based financial and insurance services company that develops and manages self-funded health benefit programs for small and mid-sized employers and public sector entities across all 50 US states. Founded in 1991 by Samuel N. Lombardo, the company administers plans covering approximately 80,000 members with $80 billion in health plan assets under management across 14 self-funded programs, including the VERIS Benefits Consortium and several state-licensed government cooperatives (PA Municipal, PA Counties, Intergovernmental, LGIT Health). The core offering pools stop-loss purchasing power and provides employer-owned claim funds with rate caps, guaranteed renewals, and no new lasers at renewal — features unavailable to standalone small-group buyers facing standard fully insured or stand-alone self-funded arrangements.
Benecon Group firmographics
Firmographics- Name
- Benecon Group
- Legal name
- The Benecon Group, LLC
- Website
- https://benecon.com
- Company type
- Private
- Founded year
- 1991
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Benecon Group administers self-funded health benefit programs through its VERIS Benefits Consortium for small and mid-sized employers and public sector entities across all 50 US states, serving roughly 80,000 members and $80 billion in health plan assets under management.
- Ownership category
- akta.pro rank
Benecon Group industry classification
Industry- Product category
- Self-Funded Health Benefits Administration
- NAICS
- Health and Welfare Funds (525120), Other Insurance Funds (525190), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Insurance Agents, Brokers & Service (6411), Hospital & Medical Service Plans (6324), Services-Management Consulting Services (8742)
- akta.pro primary industry
- Self-Funded (ERISA) Employer Plans (HLAEAAAC)
- akta.pro secondary industries
- Self-Funded (ASO) Group Health Plans & Stop-Loss (FSAIAFAB), Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK), Association & PEO Group Health Plans (AHP/PEO-Sponsored) (FSAIAFAH)
Keywords
Where Benecon Group is headquartered
LocationHeadquarters
- HQ city
- Lititz
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Benecon Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Self-Funded Plan Administration: Benecon generates revenue by administering self-funded health benefit plans for employer groups through the VERIS consortium and other programs. Revenue comes from administrative fees, stop-loss premium equivalents, and consortium management fees based on plan size and complexity.
- VERIS Consortium Fees: Revenue from managing the VERIS Benefits Consortium, including stop-loss purchasing, actuarial services, compliance support, and claim fund management for member employers.
- Ancillary Services: Additional revenue streams from CDH products (HSA, HRA, FSA administration), COBRA administration, general agency services, and ancillary benefit products including life, disability, dental, and vision.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Self-funded plan pricing based on employer size and claims experience |
| Unit Pricing | Monthly | Ancillary products for groups with 2+ enrolled |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels8 records
Benecon Group product offering
Product offeringCore offering
Benecon Group develops and administers self-funded health benefit programs for employers, primarily small and mid-sized businesses and public sector entities. The company's flagship VERIS Benefits Consortium pools employer purchasing power for stop-loss coverage while delivering guaranteed renewals, rate caps, no new lasers, and employer-owned claim funds. Supporting offerings include Benecon Analytics claims reporting, Benecon360° consultant portal, CDH product administration, COBRA administration, ConnectCare3 cost containment, and ancillary benefits.
Product overview
Benecon Group operates a multi-platform architecture centered on the VERIS Benefits Consortium for self-funded health benefits. The core VERIS platform provides pooled purchasing power and transparent claims management, while Benecon360° serves as the consultant-facing portal for quotes, renewals, and account management. Supporting modules include Benecon Analytics (claims reporting), CDH Products (HSA/HRA/FSA administration), COBRA Administration, ConnectCare3 (cost containment), Nurse Navigation, Diabetes Education, and Ancillary Services. The company pioneered Self-Funding as a Service (SFaaS), combining proprietary actuarial modeling with web-based platforms to deliver turnkey self-funding solutions for small and mid-sized businesses.
Differentiator
Problem solved
Functional benefit
Brands
- VERIS: Benecon's industry-leading benefits consortium platform providing consultant-driven solutions for creating and managing group benefits programs for self-funded employers.
Products and services
- VERIS Benefits Consortium Employer health benefits consortium enabling small and mid-sized businesses to self-fund healthcare through pooled purchasing power. Delivers guaranteed renewals, no new lasers, rate caps, and full claims transparency, with independent actuarial pricing not driven by carrier profit margins.
- Self-Funding as a Service (SFaaS) Tech-enabled turnkey self-funding platform for employers, providing proprietary actuarial modeling, claims analytics, wellness platform, plan performance reporting, and data-driven cost savings in a packaged offering.
- Benecon Analytics Claims analytics platform that consolidates medical and pharmacy data from TPA/PBM sources, delivering financial reporting, chronic condition gap analysis, preventive care insights, and actionable cost-containment recommendations for employer plans.
- Benecon360° Consultant Portal Interactive consultant portal providing real-time group information, renewal management, online quoting, implementation tracking, RFP status, and 5500 filing capabilities for broker and consultant partners.
- CDH Products (HSA/HRA/FSA Administration) Consumer Directed Healthcare administration including HSA, HRA, FSA, DCAP, QSEHRA, commuter benefits, educational reimbursements, and LSA, delivered via a 24/7 web-based platform with employer and participant portals and the Benecon Benefits Card.
- COBRA Administration Full-service COBRA administration covering federal and Pennsylvania state compliance, with an online platform offering 24/7 portals, payment processing, detailed reporting, and a dedicated client service team.
- ConnectCare3 Cost Containment Cost containment solution integrated with VERIS that provides nurse navigation, diabetes education, wellness incentive tracking, and clinical support services to reduce unnecessary spend while improving outcomes.
- Ancillary Services Full range of ancillary benefit solutions including group life/AD&D, short- and long-term disability, dental, vision, worksite benefits, and voluntary programs, with RFP implementation, renewal governance, and contract review for employer groups.
- General Agency Services General Agency back-office services for independent broker and producer partners, providing quoting tools, commission support, monthly educational webinars, and ongoing renewal assistance for selling VERIS and ancillary services to employer clients.
Quantifiable outcome
- 27% savings in healthcare costs vs. fully insured alternatives over 5 years
- +8 more outcomes
Companies that use Benecon Group
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles3 records
Benecon Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability2 records
Feature5 records
Benecon Group partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- ConnectCare3coreConnectCare3 provides integrated cost containment services including nurse navigation, diabetes education, wellness programs, and clinical services as a fully-integrated component of the VERIS plan offering.
- Independent ActuariescoreBenecon uses independent actuaries to set rates and claim fund projections, ensuring fairness and avoiding carrier-driven pricing that prioritizes financial returns over employer benefit.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Benecon Group competitors and assessment
Company assessmentBroad incumbents
- Unum Group: Major provider of group disability, life, and supplemental health benefits to US employers. Overlaps with Benecon's ancillary benefits and stop-loss-adjacent offerings, particularly for SMB and mid-market employer segments.
- UnitedHealthcare (UnitedHealth Group): Largest US health insurer offering fully insured and self-funded products plus stop-loss through Optum. Competes with Benecon for SMB self-funded business and provides network access that Benecon depends on as a carrier partner.
- Sun Life Financial: Large group benefits carrier offering stop-loss, group life, disability, and dental products to US employers. Comparable to Benecon in the group benefits and stop-loss space but as a diversified incumbent with broader product portfolio and owned distribution.
- Cigna Group: Major national health carrier with significant employer-sponsored and stop-less businesses serving SMB and mid-market. Comparable as a large incumbent competing for the same self-funded employer segment Benecon targets via VERIS.
- Voya Financial: Diversified financial services firm with significant employer-sponsored benefits administration, stop-loss, and CDH capabilities. Overlaps with Benecon in self-funded administration, stop-loss, and FSA/HSA products serving mid-market employers.
- Aetna (CVS Health): National health insurer with self-funded and stop-loss offerings for US employers. Functions as both a Benecon carrier partner and a competitor for self-funded employer business across multiple regions.
Emerging players
- PlanSource Benefits: Cloud-based benefits administration and enrollment platform serving SMB and mid-market employers and brokers. Comparable to Benecon's Benecon360 consultant portal as a broker/employer-facing benefits technology platform.
Direct peers
- HealthEquity: Leading HSA and consumer-directed healthcare (CDH) administrator serving US employers and health plans. Direct competitor in Benecon's CDH Products (HSA/HRA/FSA) line and a comparable benefits-administration platform for employer-sponsored plans.
- The Phia Group: Specialized stop-loss, claims management, and cost-containment consulting firm serving self-funded employer plans and TPAs. Closely comparable to Benecon's stop-loss purchasing, claims advocacy, and renewal governance services for self-funded groups.
- Sentinel Group: Independent benefits, insurance, and wealth management firm offering self-funded plan administration, stop-loss, and consulting for employers and municipalities. Directly comparable to Benecon in serving public-sector cooperatives and mid-market employers with self-funded solutions.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Benecon Group social profiles
Digital presenceBenecon Group compliance and trust
Trust signalCompliance1 record
Benecon Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Benecon Group leadership team
Management profileNumber of profiles
Profiles15 records
Benecon Group funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Benecon Group 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 Benecon Group
What does Benecon Group do?
Benecon Group develops and administers self-funded health benefit programs for employers, primarily small and mid-sized businesses and public sector entities. The company's flagship VERIS Benefits Consortium pools employer purchasing power for stop-loss coverage while delivering guaranteed renewals, rate caps, no new lasers, and employer-owned claim funds. Supporting offerings include Benecon Analytics claims reporting, Benecon360° consultant portal, CDH product administration, COBRA administration, ConnectCare3 cost containment, and ancillary benefits.
Is Benecon Group a public or private company?
Benecon Group is a private company. It is classified as private equity controlled and is currently operating.
When was Benecon Group founded?
Benecon Group was founded in 1991. It employs 101 to 250 people.
Where is Benecon Group based?
Benecon Group is headquartered in Lititz, United States, in the North America region.
How does Benecon Group make money?
Three revenue lines are on record. Self-Funded Plan Administration is the primary driver. The others are VERIS Consortium Fees and ancillary Services.
Who are Benecon Group's main competitors?
Broad incumbents on record are Unum Group, UnitedHealthcare (UnitedHealth Group), Sun Life Financial, Cigna Group, Voya Financial and Aetna (CVS Health). PlanSource Benefits is listed as an emerging player. Direct peers are HealthEquity, The Phia Group and Sentinel Group.
Does Benecon Group have an API?
No public API is recorded for Benecon Group.
What industry is Benecon Group in?
Benecon Group's product category is Self-Funded Health Benefits Administration. Its primary akta.pro industry code is HLAEAAAC, Self-Funded (ERISA) Employer Plans, with a secondary code of FSAIAFAB, Self-Funded (ASO) Group Health Plans & Stop-Loss. Its NAICS code is 525120 and its SIC code is 6411.