BRMS

What BRMS does

BRMS (Benefit & Risk Management Services, Inc.) is a California-incorporated, privately held Third Party Administrator founded in 1993 and headquartered in Folsom, California. The company delivers nationwide employee benefit administration services to self-funded employers, Taft-Hartley and union trust funds, brokers, plan participants, and healthcare providers. Its core service portfolio spans TPA administration, medical/dental/vision claims administration, FSA/HRA administration, COBRA continuation coverage, retiree billing, cost containment, ACA and No Surprises Act compliance, and specialized union benefit administration.

BRMS's product surface is anchored by MyHealthBenefits, a proprietary web application for online benefit enrollment and administration, complemented by the Provider Gateway for healthcare provider interactions and Plan Analytics and Executive Analytics portals for data-driven decision-making. The technology stack emphasizes integration and interoperability across multiple stakeholder portals, with the company managing billions in premium annually through these systems. The platform is supported by a curated partner ecosystem including tier-1 PBMs (Express Scripts, Cigna, Magellan Rx Management, WellDyne), HSA administration via WEX Health, voluntary benefits through Colonial Life, and supplementary products from Sun Life and Anthem Blue Cross.

BRMS generates revenue through professional services fees (TPA administration, claims processing, COBRA, FSA/HRA, compliance) and subscription/recurring fees tied to its MyHealthBenefits platform, with contracts typically structured on an annual billing cadence and pricing customized to plan size, claims volume, and service scope. Go-to-market is enterprise field sales executed through direct employer relationships, broker channels, and dedicated union/Taft-Hartley sales coverage, with a toll-free customer support call center and Account Executive teams providing post-sale service. Named enterprise customers include Dignity Health, indicating meaningful healthcare-system accounts within the client base.

Name

BRMS

Legal name

Benefit and Risk Management Services, Inc.

Website

https://brmsonline.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

251–500 employees

Short description

BRMS is a privately held Third Party Administrator founded in 1993, providing nationwide self-funded benefit administration, claims processing, COBRA, FSA/HRA, and compliance services to employers, unions, and Taft-Hartley trust funds through its proprietary MyHealthBenefits platform.

Ownership category

akta.pro rank

Product category

Third Party Benefits Administration

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Hospital & Medical Service Plans (6324), Accident & Health Insurance (6321)

akta.pro primary industry

Medicare Plan Administration & Third-Party Services (TPA/BPO, Enrollment, Billing) (FSAIAGAI)

Keywords

• Third party administration
• Benefit administration
• Claims processing services
• Self-funded health plans
• COBRA administration

Headquarters

HQ city

Folsom

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. TPA Administration Services: Full-service Third Party Administration including plan administration, claims processing, and related administrative services for self-funded and level-funded health plans.
2. Benefit Administration Services: Online benefit administration and enrollment services through the MyHealthBenefits platform, charging for technology and administrative services.
3. COBRA Administration: Compliance administration for COBRA continuation coverage with online software management.
4. FSA/HRA Administration: Flexible Spending Account and Health Reimbursement Arrangement administration services.
5. Compliance Administration: ACA compliance services including monthly hours tracking, 1095 reporting, and regulatory compliance management.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

BRMS is a nationwide Third Party Administrator that delivers full-service administration for self-funded and level-funded health benefit plans, including plan administration, claims processing, COBRA administration, FSA/HRA administration, retiree billing, cost containment, and ACA compliance. Its proprietary MyHealthBenefits web application enables online benefit administration and enrollment for employers and members, complemented by Provider Gateway and analytics portals.

Product overview

BRMS offers a suite of Third Party Administration (TPA) services as a nationwide TPA for the past 30 years. The core product is MyHealthBenefits, a proprietary web application for online benefit administration and enrollment. This platform is complemented by comprehensive TPA services including Claims Administration, FSA/HRA Administration, COBRA Administration, Retiree Billing, and Cost Containment. Additional offerings include Benefit Administration, Union & Taft-Hartley Administration for union trust funds, and Compliance Administration covering ACA requirements. Supporting web portals include Provider Gateway for healthcare providers and Plan Analytics/Executive Analytics for data insights.

Differentiator

Problem solved

Functional benefit

Brands

• MyHealthBenefits: BRMS' proprietary, secure web application for online benefit administration and enrollment that allows users to store, access, administer, track, and manage employee benefit data on one comprehensive platform.

Products and services

• MyHealthBenefits Proprietary, secure web application providing online benefit administration and enrollment for employers, employees, and members, allowing benefit data to be stored, accessed, administered, tracked, and managed in one place.
• TPA Services Full-service Third Party Administration for self-funded and level-funded employer health plans, bundling plan administration, claims processing, COBRA, retiree billing, FSA/HRA administration, and cost containment.
• Claims Administration Processing and management of medical, dental, and vision claims for self-funded plans, including pre-certification, transition of care requests, and utilization management.
• FSA/HRA Administration Administration of Flexible Spending Accounts and Health Reimbursement Arrangements, including healthcare FSA, dependent care FSA, and limited purpose FSA reimbursement processing.
• COBRA Administration Online COBRA continuation coverage administration that manages qualifying events and compliance documentation for employers and plan participants.
• Retiree Billing Billing administration services for retiree benefit plans, handling premium billing and collections on behalf of plan sponsors.
• Cost Containment Strategies and services designed to reduce healthcare costs for self-funded employers.
• Benefit Administration Comprehensive benefit administration services for employers managing employee benefits, delivered through the MyHealthBenefits platform.
• Union and Taft-Hartley Administration Specialized administration for Taft-Hartley Trust Fund Plans, ensuring plan participants are satisfied with their union benefit programs.
• Compliance Administration ACA and No Surprises Act compliance assistance for employers, including monthly hours tracking, 1095 reporting, and ongoing regulatory change management.
• Provider Gateway Online portal for healthcare providers to interact with BRMS for claims submission, eligibility verification, and administrative tasks.
• Plan Analytics Analytics platform for plan sponsors to view and analyze benefit plan performance data.
• Executive Analytics Executive-level analytics dashboard providing leadership insights into benefit program performance.

Quantifiable outcome

• MyHealthBenefits reduces processing costs by allowing users to store, access, administer, track, and manage benefit data on one comprehensive platform.

Named customers1 record

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Colonial LifecoreStrategic or Co-development PartnerBRMS partners with Colonial Life to provide voluntary benefits and supplemental insurance options to BRMS customers. This partnership allows BRMS to offer additional benefit solutions to employers.
• Magellan Rx ManagementcoreTechnology or IntegrationBRMS works with Magellan Rx Management for pharmacy benefit management services including formulary updates, specialty pharmacy programs, and pharmacy trend reporting. This partnership provides PBM services to BRMS client plans.
• CignacoreTechnology or IntegrationBRMS partners with Cigna for health insurance and pharmacy benefit management services, including holiday schedule coordination, formulary changes, and digital marketing toolkit resources.
• Express ScriptscoreTechnology or IntegrationBRMS utilizes Express Scripts for pharmacy benefit management with access to the National Preferred Formulary providing coverage of 3,886+ medications and cost savings programs.
• WellDyne / WellDyneRxcoreTechnology or IntegrationBRMS partners with WellDyneRx for pharmacy benefit management services including formulary updates and specialty pharmacy programs.
• WEX HealthcoreTechnology or IntegrationBRMS partners with WEX Health for HSA administration and financial wellness solutions. WEX Health launched National HSA Day on October 15, 2019 as a nationwide initiative to educate Americans about HSA benefits.
• FSA StoreminorChannel Partner/ Reseller/ DistributorFSA Store is linked from BRMS website allowing customers to purchase FSA-eligible products and services, integrated as a partner resource for flexible spending account holders.
• Dignity HealthcoreOthersDignity Health is a named customer with dedicated BRMS portal access, indicating a significant healthcare system client relationship for employee benefit administration services.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• WEX Health: WEX Health is one of the largest HSA, FSA, HRA, and COBRA administrators in the US. It is a direct peer to BRMS in consumer-driven benefit account administration and the listed partner on BRMS's own HSA offering, sharing the same employer and broker buyer.
• Businessolver: Businessolver provides benefits administration technology and services including enrollment, ACA compliance, COBRA, and integrated payroll/HR workflows. It competes head-on with BRMS's MyHealthBenefits platform for mid-market and enterprise employer RFPs.
• PlanSource Benefits Administration: PlanSource is a cloud benefits administration platform offering enrollment, COBRA, billing, and decision-support tools for employers and brokers. It is a direct competitor to BRMS in online benefits enrollment and administration.
• Empyrean Benefit Solutions: Empyrean is a benefits administration technology and services provider focused on ACA compliance, COBRA, eligibility, and enrollment for mid-market and enterprise employers. It directly competes with BRMS in compliance administration and enrollment.

Broad incumbents

• ADP TotalSource (PEO): ADP TotalSource is a large PEO offering payroll, benefits administration, HR, and compliance to small and mid-sized employers. It competes with BRMS for the same employer HR/benefits buyer with a bundled, scaled offering.
• Benefitfocus (Voya Financial): Benefitfocus, now part of Voya Financial, offers a benefits enrollment and administration platform serving large employers, insurers, and public exchanges. It is a broader incumbent competing for the same online enrollment workloads BRMS handles on MyHealthBenefits.
• Paychex PEO / HR Services: Paychex provides payroll, HR, and benefits administration (including PEO services) for SMBs. It overlaps with BRMS on employer-sponsored benefits administration but at significantly greater scale and brand recognition.
• HealthEquity: HealthEquity is a leading HSA custodian and administrator that also offers COBRA, FSA, and consumer-directed benefit services. It is comparable to BRMS in FSA/HRA/COBRA administration and competes for the same employer benefit dollars.

Emerging players

• Zenefits: Zenefits delivers HR, payroll, and benefits administration in a unified SaaS platform targeted at small and mid-sized employers. It competes with BRMS for the mid-market benefits administration buyer with a modern, cloud-native experience.

Regional players

• Alliant Insurance Services (TPA practice): Alliant is a specialty insurance brokerage with a Third Party Administration practice offering claims, managed care, and stop-loss support for self-funded employer plans. It competes with BRMS for self-funded plan administration mandates, particularly in the West Coast and Taft-Hartley segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCjX8VgkR_1q3tLQ5Z2oL1YQ
• Facebookfacebook.com/brms-161126670576647
• LinkedInlinkedin.com/company/brms
• Instagraminstagram.com/brmsonline
• Xx.com/brms_online

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BRMS