The Preferred Group
- Company typePrivate
- Founded1987
- HeadquartersAlbany, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
The Preferred Group firmographics
Firmographics- Name
- The Preferred Group
- Legal name
- The Preferred Group
- Website
- https://mytpgplan.com
- Company type
- Private
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
The Preferred Group industry classification
Industry- Product category
- Third-Party Employee Benefits Administration
- NAICS
- Insurance and Employee Benefit Funds (5251), Health and Welfare Funds (525120)
- SIC
- Insurance Agents, Brokers & Service (6411), Hospital & Medical Service Plans (6324)
- akta.pro primary industry
- Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)
- akta.pro secondary industries
- Eligibility, Enrollment & Benefits Administration (HLAEALAH), Benefits Administration & Enrollment Support (BPAAAIAB), Employer-Sponsored Dental & Vision (Group) (FSAIAHAH), Level-Funded Group Health Plans (FSAIAFAC)
Keywords
Where The Preferred Group is headquartered
LocationHeadquarters
- HQ city
- Albany
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
The Preferred 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
- Third-Party Administration Fees: The Preferred Group generates revenue through monthly administrative fees for managing employee benefit plans including FSAs, HRAs, CRAs, Health & Welfare Trusts, and self-funded dental/vision plans. Fees are charged per plan or per participant basis.
- Self-Funded Plan Administration: Revenue from administering self-funded dental and vision plans for employers, offering lower costs than fully insured alternatives with full plan design customization.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Plan administration fees based on plan type and participant count |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
The Preferred Group product offering
Product offeringCore offering
The Preferred Group is a third-party employee benefits administrator that designs, implements, and administers pre-tax and self-funded benefit programs—including Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Commuter Reimbursement Accounts (CRAs), Health & Welfare Trust Funds, and Self-Funded Dental and Vision Plans—for employers and union trust funds. Service is delivered through dedicated online portals (PG Plus for administrators, PG Blue for participants), iOS/Android mobile apps, direct deposit, and a Visa-based Pre-Paid Benefits Card, with same-day claims turnaround and live phone support.
Product overview
The Preferred Group is a third-party employee benefits administrator offering a unified platform for benefit plan management. The core product portfolio includes Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Commuter Reimbursement Accounts (CRAs), Health & Welfare Trust Administration, and Self-Funded Dental and Vision Plans. These products are delivered through two digital portals: PG Plus for administrator access and PG Blue for participant self-service. The Pre-Paid Benefits Card (Benny Card) serves as a Visa-based payment mechanism that integrates across multiple account types (FSAs, HRAs, CRAs) to enable automatic reimbursement for qualified expenses. The company utilizes PPO provider networks including DentaMax, Aetna, and Anthem for dental plan integration, offering employers flexibility between fully customizable self-funded options and simpler fully-insured alternatives.
Differentiator
Problem solved
Functional benefit
Brands
- PG Plus: Administrator Portal for employer/HR administration of employee benefits
- PG Blue
Products and services
- Flexible Spending Accounts (FSAs) IRS Section 125/Cafeteria plan administration enabling employees to contribute pre-tax dollars for unreimbursed medical and dependent day care expenses, with employees saving 30-40% on taxes and employers saving 7.65% FICA tax on contributions.
- Health Reimbursement Arrangements (HRAs) Employer-funded personal care accounts that reimburse employees for medical care expenses not covered by their health plan, funded 100% by the employer and allowing employees to pay qualifying healthcare expenses with non-taxed money.
- Commuter Reimbursement Accounts (CRAs) IRS Section 132-compliant accounts allowing employees to deduct parking and mass transit expenses on a pre-tax basis up to monthly IRS limits, with employers saving a matching 7.65% FICA.
- Health & Welfare Trust Administration Full-service administration of Health and Welfare Fund Benefit Plans covering dental, vision, prescription drug, flexible supplemental health, legal, and other benefits, delivered in a fully HIPAA-compliant manner.
- Self-Funded Dental Plans Self-insured dental benefit options offering customizable plan designs, integration with PPO networks (DentaMax, Aetna, Anthem), no minimum participation requirements, and cost savings over fully insured alternatives.
- Self-Funded Vision Plans Self-insured vision benefit options offered alongside dental plans, allowing employers to customize coverage and control costs with flexible provider network options.
- Pre-Paid Benefits Card (Benny Card) Special-purpose Visa card providing participants with automatic electronic access to pre-tax funds in FSA, HRA, and CRA accounts for qualified healthcare, dependent care, and commuting expenses.
- PG Plus Administrator Portal Online portal for plan sponsors and employer administrators to manage employee eligibility, view reports, and handle plan administration tasks across FSA, HRA, CRA, dental, and vision programs.
- PG Blue Participant Portal Online participant-facing portal enabling employees to access account information, submit claims, view claim status, and manage benefit selections online.
Quantifiable outcome
- Same-day turnaround for FSA claims payment
- +3 more outcomes
Companies that use The Preferred Group
Customer profileSegments4 records
Ideal customer profiles3 records
The Preferred Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
The Preferred Group partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- NYSUT Member Benefits TrustcoreNYSUT Member Benefits Trust has endorsed The Preferred Group's FSA services since 1991 and more recently their HRA services. This endorsement provides significant credibility in the New York public employee union market.
- FSA StoreminorFSA Store is linked as a partner resource on The Preferred Group's Links page, providing participants access to FSA-eligible products and services.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
The Preferred Group competitors and assessment
Company assessmentDirect peers
- DataPath: TPA platform providing HSA, FSA, HRA, and COBRA administration with employer and broker focus. Closely comparable technology-enabled benefits administration model.
- American Benefits Group: Mid-market TPA providing FSA, HRA, HSA, and self-funded administration. Comparable product breadth and broker distribution strategy.
- Benefit Resource, Inc. Rochester, NY-based TPA offering FSA, HRA, commuter, and COBRA administration to employers and brokers in the Northeast — a very close regional overlap with The Preferred Group's product mix and go-to-market.
- Benefit Allocation Systems (BAS): Rochester, NY-based TPA specializing in FSA, HRA, commuter, and self-funded plan administration. Regional Northeast competitor with similar product line and customer base.
- Further (formerly Discovery Benefits): Mid-sized TPA offering FSA, HRA, HSA, commuter, and COBRA administration to employers. Directly comparable in product scope and broker channel dependence.
- TASC (Total Administrative Services Corporation): Wisconsin-headquartered national TPA administering FSAs, HRAs, HSAs, commuter, and self-funded plans. Comparable mid-market TPA scale, multi-product portfolio, and broker-led distribution model.
Broad incumbents
- Optum Financial: UnitedHealth Group's financial services arm providing HSA, FSA, and benefit account administration. Dominant incumbent with deep integrations and nationwide distribution against which smaller TPAs compete.
- HealthEquity: Public, large-scale HSA/FSA/HR administration platform with national broker and employer reach. Overlaps heavily with The Preferred Group's core FSA/HRA business but at far greater scale and with consumer-direct HSA capabilities.
- WageWorks (now part of HealthEquity): Formerly a leading FSA/HRA/commuter administrator serving employers through brokers — direct head-to-head competitor historically in the same product categories as The Preferred Group.
- ADP TotalSource / Run by ADP: Large-scale PEO and HR outsourcing provider offering benefits administration (including FSA/HRA/commuter) as part of bundled payroll and HR services. Represents the bundled, scaled competitive threat to single-product TPAs.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
The Preferred Group compliance and trust
Trust signalCompliance1 record
The Preferred Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Preferred Group leadership team
Management profileNumber of profiles
Profiles1 record
The Preferred Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Preferred 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 The Preferred Group
What does The Preferred Group do?
The Preferred Group is a third-party employee benefits administrator that designs, implements, and administers pre-tax and self-funded benefit programs—including Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Commuter Reimbursement Accounts (CRAs), Health & Welfare Trust Funds, and Self-Funded Dental and Vision Plans—for employers and union trust funds. Service is delivered through dedicated online portals (PG Plus for administrators, PG Blue for participants), iOS/Android mobile apps, direct deposit, and a Visa-based Pre-Paid Benefits Card, with same-day claims turnaround and live phone support.
Is The Preferred Group a public or private company?
The Preferred Group is a private company. It is classified as unknown and is currently operating.
When was The Preferred Group founded?
The Preferred Group was founded in 1987. It employs 11 to 50 people.
Where is The Preferred Group based?
The Preferred Group is headquartered in Albany, United States, in the North America region.
How does The Preferred Group make money?
Two revenue lines are on record. Third-Party Administration Fees are the primary driver. The others are self-Funded Plan Administration.
Who are The Preferred Group's main competitors?
Direct peers on record are DataPath, American Benefits Group, Benefit Resource, Inc., Benefit Allocation Systems (BAS), Further (formerly Discovery Benefits) and TASC (Total Administrative Services Corporation). Broad incumbents are Optum Financial, HealthEquity, WageWorks (now part of HealthEquity) and ADP TotalSource / Run by ADP.
Does The Preferred Group have an API?
No public API is recorded for The Preferred Group.
What industry is The Preferred Group in?
The Preferred Group's product category is Third-Party Employee Benefits Administration. Its primary akta.pro industry code is HLAEALAK, Flexible Benefits Administration (FSA/HSA/HRA), with a secondary code of HLAEALAH, Eligibility, Enrollment & Benefits Administration. Its NAICS code is 5251 and its SIC code is 6411.