Benefit Plans Inc
Benefit Plans Inc is a privately held, Virginia Beach-based independent insurance agency founded in 1974 that places group and individual health, life, dental, disability, Medicare, and voluntary benefits for small-to-mid-sized employers, Medicare-eligible individuals, and families in the Tidewater / Hampton Roads Virginia region through the Employee Navigator platform and multi-carrier appointments.
- Company typePrivate
- Founded1974
- HeadquartersVirginia Beach, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What Benefit Plans Inc does
Benefit Plans Inc is a privately held independent insurance agency founded in 1974 and headquartered in Virginia Beach, Virginia, serving the Tidewater / Hampton Roads region. The firm places group and individual insurance products — health, dental, vision, life, disability, long-term care, Medicare Advantage/Supplement, voluntary benefits, and annuities — on behalf of small-to-mid-sized employers, Medicare-eligible individuals, and families in Virginia. Revenue is generated primarily through carrier commissions on placed business, supplemented by commission-sharing arrangements with partner brokers and consulting/plan-design services bundled with carrier placements; pricing is quote-based with annual or monthly billing cadences depending on product. Go-to-market mixes phone-based inside sales, inbound website quote requests, in-person consultations at the Virginia Beach office, and a broker partnership program that recruits and enables other local Tidewater agents.
The firm's operational technology backbone is the third-party Employee Navigator benefits administration platform, which provides automated enrollment, real-time benefits tracking, employee self-service, paperless documentation, ACA compliance tracking, and pre-built EDI feeds to more than a dozen health, dental, vision, life, and disability carriers. The company holds appointments with major national carriers (Aetna, Anthem, Cigna, Humana, Lincoln Financial, MetLife, Prudential, AIG, John Hancock, Genworth, Guardian, United Concordia, Mutual of Omaha, VSP) as well as Virginia-anchored regional carriers (notably Optima), supporting an independent agency positioning rather than captive placement. Benefit Plans maintains a dedicated compliance function and a separately staffed Medicare practice that supports senior individual clients alongside the SMB employer book. The company is micro-cap by headcount (1-10 employees), operates exclusively within a single regional market, and has no disclosed venture, private equity, or institutional investment.
Benefit Plans Inc firmographics
Firmographics- Name
- Benefit Plans Inc
- Legal name
- Benefit Plans Inc.
- Website
- https://benefitplansinc.net
- Company type
- Private
- Founded year
- 1974
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Benefit Plans Inc is a privately held, Virginia Beach-based independent insurance agency founded in 1974 that places group and individual health, life, dental, disability, Medicare, and voluntary benefits for small-to-mid-sized employers, Medicare-eligible individuals, and families in the Tidewater / Hampton Roads Virginia region through the Employee Navigator platform and multi-carrier appointments.
- Ownership category
- akta.pro rank
Benefit Plans Inc industry classification
Industry- Product category
- Insurance Brokerage Services
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Benefits Administration (BPACAPAC)
- akta.pro secondary industries
- Benefits Administration & Enrollment Support (BPAAAIAB), Eligibility, Enrollment & Benefits Administration (HLAEALAH)
Keywords
Where Benefit Plans Inc is headquartered
LocationHeadquarters
- HQ city
- Virginia Beach
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Benefit Plans Inc business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Insurance Commissions: Commission-based revenue from insurance carriers for placing business. As an independent agency, they earn commissions from multiple insurance carriers across health, life, disability, dental, vision, and Medicare products.
- Broker Services: Value-added services to partner brokers including quoting support, enrollment assistance, product training, CE education, and contract/licensing support. Revenue generated through commission sharing arrangements with carrier partners.
- Employee Benefits Consulting: Consulting and advisory services for businesses including benefits analysis, plan design, compliance support, and ongoing account management. Services bundled with carrier products rather than separately billed.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Custom group benefit plans priced based on employer needs, employee count, and coverage requirements |
| Other | Monthly | Individual insurance products vary by coverage type and personal health factors |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Benefit Plans Inc product offering
Product offeringCore offering
Benefit Plans Inc is an independent insurance agency that sells and administers group and individual insurance products — including group health, dental, vision, life, disability, voluntary/supplemental, ACA marketplace, Medicare Advantage/Supplement, and Part D coverage — to employers and individuals in the Tidewater/Hampton Roads Virginia region. Service delivery is supported by the Employee Navigator benefits administration platform for enrollment automation, compliance tracking, and carrier connectivity.
Product overview
Benefit Plans Inc operates as an independent benefits agency offering a comprehensive suite of insurance products and services centered around its core technology platform, Employee Navigator. The company provides five main service categories: Employee Benefits (group health, dental, vision, life, disability, retirement plans), Life Insurance (term, whole, universal, and group coverage), Voluntary Benefits (supplemental insurance including disability, accident, critical illness), Individual Insurance (ACA marketplace, short-term, Medicare), and Senior Benefits (Medicare Advantage and Supplement plans). The Employee Navigator platform serves as the technology backbone, offering benefits administration, automated enrollment, ACA reporting, integrated payroll connectivity, and HR management features. The company also provides various online forms for Medicare reviews, prescription lookup, fraud reporting, and consent management. Founded in 1974, the company serves the Virginia Tidewater region with partnerships across major insurance carriers including Aetna, Anthem, Cigna, Optima, and Lincoln Financial.
Differentiator
Problem solved
Functional benefit
Products and services
- Employee Benefits Comprehensive employee benefits administration for businesses, including group health insurance, life insurance, AD&D coverage, retirement plans, and compliance management, delivered with a single point of contact and powered by the Employee Navigator platform.
- Life Insurance Life insurance solutions including term life, whole life, universal life, and group life insurance, with coverage options for mortgage protection, income replacement, and business needs, sourced across multiple carrier partners.
- Voluntary Benefits Supplemental insurance coverage offered at group rates including disability, accident, critical illness, hospital confinement, dental, vision, and virtual health care options, marketed as an affordable group health insurance complement for employers.
- Individual Insurance Personal insurance coverage for individuals and families, including ACA marketplace plans, short-term health insurance, Medicare solutions, and additional products such as dental, vision, long-term care, and disability.
- Medicare Services Medicare guidance and coverage options for seniors including Medicare Advantage Plans (Part C), Medicare Supplement Insurance, and Part D prescription drug coverage, delivered through partner carriers and supported by dedicated Medicare forms and consultation.
- Employee Navigator Benefits Administration Platform Technology-driven benefits administration platform offering streamlined enrollment, automated processes, real-time benefits tracking, employee self-service portal, paperless documentation, ACA tracking and reporting, integrated payroll, and HR management — sold and supported to clients as the delivery vehicle for employee benefits.
Quantifiable outcome
- 99%+ customer satisfaction rate
- +2 more outcomes
Companies that use Benefit Plans Inc
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
Benefit Plans Inc technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Benefit Plans Inc partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered core.
- Employee NavigatorcoreTechnology partnership providing benefits administration platform with features including streamlined enrollment, automated processes, employee self-service portal, ACA compliance tracking, and carrier EDI connectivity. Core platform powering their service delivery.
- AetnacoreHealth insurance carrier partner providing medical coverage plans through the agency. Part of comprehensive health insurance network.
- AnthemcoreHealth and Medicare insurance carrier partner offering medical coverage and Medicare Advantage plans. Major national carrier represented.
- CignacoreHealth insurance carrier partner providing medical coverage and dental/vision plans. Global health service company.
- OptimacoreRegional health insurance carrier based in Virginia, offering medical coverage and Medicare plans. Key regional partner for Virginia Beach market.
- HumanacoreMedicare and health insurance carrier partner providing Medicare Advantage, Supplement, and prescription drug plans. Senior-focused carrier.
- Lincoln FinancialcoreDisability and life insurance carrier partner. National financial services company offering group disability coverage.
- MetLifecoreDisability insurance carrier partner providing income protection and group disability coverage. Major national carrier.
- PrudentialcoreLife insurance carrier partner offering term life, whole life, and universal life coverage. Major national life insurance provider.
- AIGcoreLife insurance carrier partner providing life insurance products. Global insurance organization.
- John HancockcoreLife insurance carrier partner offering life insurance solutions. Major national life insurer.
- Genworth FinancialcoreLife and long-term care insurance carrier. Provider of long-term care insurance solutions for seniors.
- GuardiancoreDental insurance carrier partner. Provides dental coverage plans as part of employee benefits package.
- United ConcordiacoreDental insurance carrier partner offering dental coverage. Dental HMO provider.
- Mutual of OmahacoreMedicare and senior insurance carrier partner. Provides Medicare Supplement and senior-focused coverage.
- VSPcoreVision insurance carrier partner. National vision insurance provider offering vision coverage.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
Benefit Plans Inc competitors and assessment
Company assessmentBroad incumbents
- Lockton Companies: Largest independent insurance brokerage globally with a strong mid-market employee benefits practice; competes in the same independent, multi-carrier benefits advisory category.
- Hub International: North American insurance brokerage with a sizable employee benefits practice and carrier-agnostic advisory model — directly comparable positioning to Benefit Plans, scaled across multiple US regions.
- Brown & Brown: National insurance brokerage with a significant employee benefits division; offers the same multi-carrier, multi-line brokerage services as Benefit Plans Inc. across a much broader geographic footprint.
- USI Insurance Services: Large US property/casualty and employee benefits brokerage; competes for mid-market group benefits business with independent, multi-carrier positioning similar to Benefit Plans.
- Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm with deep employee benefits consulting practices; competes for the same mid-market group benefits accounts Benefit Plans targets, with substantially more resources.
- NFP (an Aon company): Benefits, retirement, and insurance brokerage serving mid-market employers across the US; same employee-benefits-centric advisory model as Benefit Plans at materially larger scale.
Emerging players
- eHealth: Tech-enabled health insurance marketplace and broker focused on individual Medicare and ACA plans — directly overlaps with Benefit Plans' Individual Insurance and Medicare service lines, but via a digital-direct model.
- GoHealth: Medicare-focused insurance broker using a tech-enabled agent model; competes head-to-head with Benefit Plans' Medicare service line, particularly on Advantage and Supplement plans.
- SelectQuote: Direct-to-consumer insurance brokerage specializing in life and senior health products; overlaps with Benefit Plans' Life Insurance and Medicare lines through a high-volume, tech-enabled agent model.
Direct peers
- OneDigital: Large US benefits-focused independent brokerage offering group health, voluntary, and retirement services to mid-market employers — the same core business model and target customer as Benefit Plans Inc., but at national scale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks7 records
Key highlights6 records
Customer concentration
Benefit Plans Inc social profiles
Digital presenceBenefit Plans Inc financial estimates
Financial estimateRevenue estimate
Valuation estimate
Benefit Plans Inc leadership team
Management profileNumber of profiles
Profiles2 records
Benefit Plans Inc funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Benefit Plans Inc 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 Benefit Plans Inc
What does Benefit Plans Inc do?
Benefit Plans Inc is an independent insurance agency that sells and administers group and individual insurance products — including group health, dental, vision, life, disability, voluntary/supplemental, ACA marketplace, Medicare Advantage/Supplement, and Part D coverage — to employers and individuals in the Tidewater/Hampton Roads Virginia region. Service delivery is supported by the Employee Navigator benefits administration platform for enrollment automation, compliance tracking, and carrier connectivity.
Is Benefit Plans Inc a public or private company?
Benefit Plans Inc is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Benefit Plans Inc founded?
Benefit Plans Inc was founded in 1974. It employs 1 to 10 people.
Where is Benefit Plans Inc based?
Benefit Plans Inc is headquartered in Virginia Beach, United States, in the North America region.
How does Benefit Plans Inc make money?
Three revenue lines are on record. Insurance Commissions are the primary driver. The others are broker Services and employee Benefits Consulting.
Who are Benefit Plans Inc's main competitors?
Broad incumbents on record are Lockton Companies, Hub International, Brown & Brown, USI Insurance Services, Arthur J. Gallagher & Co. and NFP (an Aon company). Emerging players are eHealth, GoHealth and SelectQuote. OneDigital is listed as a direct peer.
Does Benefit Plans Inc have an API?
No public API is recorded for Benefit Plans Inc.
What industry is Benefit Plans Inc in?
Benefit Plans Inc's product category is Insurance Brokerage Services. Its primary akta.pro industry code is BPACAPAC, Benefits Administration, with a secondary code of BPAAAIAB, Benefits Administration & Enrollment Support. Its NAICS code is 524292 and its SIC code is 6411.