BeniComp Insurance
BeniComp Inc. is a Tampa-based Third Party Administrator founded in 1962 that administers self-funded health plans for approximately 2,000 employer clients across all 50 U.S. states, distributing its IncentiCare and Select products through partner insurance companies and brokers.
- Company typePrivate
- Founded1962
- HeadquartersTampa, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What BeniComp Insurance does
BeniComp Inc. is a privately held Third Party Administrator (TPA) founded in 1962 and headquartered in Tampa, Florida, that administers self-funded health insurance plans for approximately 2,000 employer clients across all 50 U.S. states. The company's core offering, BeniComp IncentiCare, is a custom self-funded health plan that combines claims processing, in-house nursing case management, 24/7 telemedicine, preventive health coaching, member portal support, and custom reporting. A complementary sub-brand, BeniComp Select, addresses executive medical reimbursement.
The company differentiates through a proprietary health improvement program that claims a 96% member participation rate, enabled by in-house health coaches who proactively reach out to members identified through health screening and claims data as being at risk for serious health issues. The technology stack centers on the BeniComp Portal, which supports member engagement, claims processing with turnaround-time analytics and accuracy auditing, telemedicine access, support ticketing, and medical bill review submission.
BeniComp is not a direct underwriter of insurance products; all plans are issued through partner insurance companies while BeniComp collects administrative fees as the TPA. Distribution occurs through insurance advisors and brokers (a primary channel) as well as direct employer outreach, targeting employer groups ranging from 45 to 3,000 employees. Average client relationship tenure is approximately 13 years, and quotes are generated via a QuickQuote workflow that requires census data upload and a minimum of 25 eligible employees. The business operates with a lean headcount of 11-50 employees, supporting an asset-light, fee-based revenue model.
BeniComp Insurance firmographics
Firmographics- Name
- BeniComp Insurance
- Legal name
- BeniComp Inc.
- Website
- https://benicomp.com
- Company type
- Private
- Founded year
- 1962
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- BeniComp Inc. is a Tampa-based Third Party Administrator founded in 1962 that administers self-funded health plans for approximately 2,000 employer clients across all 50 U.S. states, distributing its IncentiCare and Select products through partner insurance companies and brokers.
- Ownership category
- akta.pro rank
Where BeniComp Insurance is headquartered
LocationHeadquarters
- HQ city
- Tampa
- HQ country
- United States
- HQ region
- North America
Markets served
BeniComp Insurance 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 Health Plan Administration: BeniComp acts as a Third Party Administrator (TPA) for self-funded employers, providing claims processing, medical management, telemedicine, and preventive health management services. Revenue is generated through administrative fees charged to self-funded employer groups.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Self-funded employer group plans require census data for quote generation |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
BeniComp Insurance product offering
Product offeringCore offering
BeniComp Insurance operates as a Third Party Administrator for self-funded employer health plans, delivering medical management with in-house nursing case management, 24/7 telemedicine, claims processing with auditing and weekly payment cycles, preventive health coaching, member portal support, and custom reporting. Its flagship BeniComp IncentiCare plan combines these capabilities into an integrated offering, while BeniComp Select provides an executive medical reimbursement solution; all products are distributed through partner insurance companies across 50 states.
Product overview
BeniComp Insurance offers a dual-product portfolio focused on self-funded employer health plans. The core offering is BeniComp IncentiCare, a comprehensive solution for self-funded employers that combines medical management, telemedicine, claims processing, customer service, preventive health management, and reporting into an integrated platform. BeniComp Select serves as a complementary executive medical reimbursement offering. Both products are distributed through partner insurance companies across 50 states, serving employer groups ranging from 45 to 3,000 employees.
Differentiator
Problem solved
Functional benefit
Brands
- BeniComp Select: Executive medical reimbursement solution
- BeniComp IncentiCare
Products and services
- BeniComp IncentiCare Comprehensive self-funded health plan solution for employer groups (45 to 3,000 employees) that combines in-house nursing case management, 24/7 telemedicine, claims processing with auditing and weekly payment cycles, member portal support (chat, tickets, medical bill review), preventive health coaching with a claimed 96% participation rate, and custom data/graphics reporting. Sold through partner insurance companies across all 50 states.
- BeniComp Select Executive medical reimbursement plan offering targeted health coverage for executive-level employees, sold as a complementary offering to BeniComp IncentiCare.
Quantifiable outcome
- 96% participation rate in health improvement program
- +4 more outcomes
Companies that use BeniComp Insurance
Customer profileSegments2 records
Ideal customer profiles2 records
BeniComp Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
BeniComp Insurance partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Partner Insurance CompaniescoreBeniComp is not a direct writer of insurance products. All products are sold through partner insurance companies who underwrite and issue the insurance policies while BeniComp provides administrative services as a Third Party Administrator.
Scale indicators6 records
Recent moves4 records
Expansion highlights4 records
BeniComp Insurance competitors and assessment
Company assessmentDirect peers
- Meritain Health: A large Third Party Administrator for self-funded employer health plans, operating a similar model to BeniComp (admin fees, broker distribution, mid-market employer focus). Direct competitor for the same self-funded RFPs.
- Lucent Health: TPA focused on self-funded employer health plans with claims administration, care management, and pharmacy services. Competes head-to-head with BeniComp for mid-market self-funded groups.
- Allied Benefit Systems: Independent TPA providing health plan administration for self-funded employer groups, including medical, dental, and COBRA. Closely comparable business model and target customer to BeniComp.
- Key Benefit Administrators: National TPA administering self-funded health plans for employers of all sizes, including claims processing and care management. Direct peer in the self-funded mid-market TPA space.
- HealthEquity: Largest U.S. administrator of consumer-directed benefits (HSA, HRA, COBRA, FSA) for employer-sponsored plans. Comparable employer-sponsored benefits-administration model and shared broker distribution ecosystem.
Broad incumbents
- CoreSource: TPA for self-funded employer health plans, owned by Cigna/Evernorth. Overlaps with BeniComp in self-funded administration and care management but is part of a much larger benefits portfolio and carrier ecosystem.
Emerging players
- Centivo: Health plan administrator for self-funded employers with a cost-containment focus and curated provider networks. Comparable employer-sponsored value-based plan model and target segments.
- Rightway Healthcare: Employee-facing healthcare navigation and benefits platform sold to employer plans. Adjacent to BeniComp's TPA services and wellness layer, with a modern digital-first approach to employer health benefits.
- Castlight Health: Digital health navigation and employee benefits engagement platform serving self-funded employer plans. Comparable employer wellness and engagement layer with a technology-led delivery model.
- Virgin Pulse (Personify Health): Employer-focused wellbeing, health coaching, and engagement platform serving self-funded employer groups. Directly comparable to BeniComp's preventive health coaching and engagement proposition.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
BeniComp Insurance social profiles
Digital presenceBeniComp Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
BeniComp Insurance leadership team
Management profileNumber of profiles
BeniComp Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BeniComp Insurance 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 BeniComp Insurance
What does BeniComp Insurance do?
BeniComp Insurance operates as a Third Party Administrator for self-funded employer health plans, delivering medical management with in-house nursing case management, 24/7 telemedicine, claims processing with auditing and weekly payment cycles, preventive health coaching, member portal support, and custom reporting. Its flagship BeniComp IncentiCare plan combines these capabilities into an integrated offering, while BeniComp Select provides an executive medical reimbursement solution; all products are distributed through partner insurance companies across 50 states.
Is BeniComp Insurance a public or private company?
BeniComp Insurance is a private company. It is classified as unknown and is currently operating.
When was BeniComp Insurance founded?
BeniComp Insurance was founded in 1962. It employs 11 to 50 people.
Where is BeniComp Insurance based?
BeniComp Insurance is headquartered in Tampa, United States, in the North America region.
How does BeniComp Insurance make money?
One revenue line is on record: self-Funded Health Plan Administration.
Who are BeniComp Insurance's main competitors?
Direct peers on record are Meritain Health, Lucent Health, Allied Benefit Systems, Key Benefit Administrators and HealthEquity. CoreSource is listed as a broad incumbent. Emerging players are Centivo, Rightway Healthcare, Castlight Health and Virgin Pulse (Personify Health).
Does BeniComp Insurance have an API?
No public API is recorded for BeniComp Insurance.