Preferred Benefit Administrators
Preferred Benefit Administrators is a women-owned Third-Party Administrator based in Orlando, Florida, founded in 1997, that administers self-funded, level-funded, and graded-funded employer health benefit plans, ACA reporting, and tax-advantaged accounts (HRA, HSA, FSA, ICHRA, QSEHRA) using manual claims review for employers and brokers across the United States.
- Company typePrivate
- Founded1997
- HeadquartersLongwood, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Preferred Benefit Administrators does
Preferred Benefit Administrators (PBA) is a privately held, women-owned Third-Party Administrator (TPA) headquartered in the Orlando, Florida metropolitan area (Longwood), founded in 1997. The company administers self-funded, level-funded, and graded-funded employer health benefit plans, performing claims processing via manual review by trained claims specialists rather than auto-adjudication, claiming an accuracy rate exceeding 99%. Its service portfolio also covers Limited Benefit and MEC plan administration, ACA 6055 and 6056 compliance reporting (including 1095 distribution and IRS electronic filing), and administration of tax-advantaged accounts (ICHRA, QSEHRA, HRA, FSA, HSA). Member, employer, and provider access is delivered through online portals built on the HealthX platform.
The company's core technology stack centers on a claims processing platform backed by manual specialist adjudication, supplemented by HealthX-based portal infrastructure for eligibility, benefit, and claim status queries across member, employer, and provider audiences. PBA operates within a broad vendor ecosystem spanning provider networks (MultiPlan, EHN, First Health, HealthSmart), pharmacy benefit managers (WellDyne, Prime Therapeutics, Verus Rx, MedImpact, CVS Health), telehealth (Teladoc), behavioral and specialty health (Magellan, Liviniti), and analytics/back-office partners (Optum, Cognizant, Cigna).
PBA monetizes through recurring TPA administration fees for plan management, enrollment, and compliance support, billed on a quote-based annual cadence to employers and through broker/consultant intermediaries targeting mid-market employer clients. Go-to-market is consultative and direct: outbound phone outreach (407-786-2777), website inquiry forms, and broker referral channels, primarily within the United States. The firm employs 11-50 people, has operated continuously for over 27 years, is privately held with no disclosed parent company, funding events, or institutional ownership, and presents itself as a stable, relationship-driven niche operator rather than a high-growth venture.
Preferred Benefit Administrators firmographics
Firmographics- Name
- Preferred Benefit Administrators
- Legal name
- Preferred Benefit Administrators
- Website
- https://preferredtpa.com
- Company type
- Private
- Founded year
- 1997
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Preferred Benefit Administrators is a women-owned Third-Party Administrator based in Orlando, Florida, founded in 1997, that administers self-funded, level-funded, and graded-funded employer health benefit plans, ACA reporting, and tax-advantaged accounts (HRA, HSA, FSA, ICHRA, QSEHRA) using manual claims review for employers and brokers across the United States.
- Ownership category
- akta.pro rank
Preferred Benefit Administrators industry classification
Industry- 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)
- akta.pro primary industry
- Self-Funded Employer Plan TPA (ASO Administration) (HLAEALAA)
Keywords
Where Preferred Benefit Administrators is headquartered
LocationHeadquarters
- HQ city
- Longwood
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Preferred Benefit Administrators business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- TPA Administration Fees: Third Party Administration fees for managing self-funded, level-funded, and graded-funded health plans. Services include claims processing, enrollment management, and compliance support billed as recurring administrative fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Custom enterprise pricing based on plan size and services required |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels2 records
Preferred Benefit Administrators product offering
Product offeringCore offering
Preferred Benefit Administrators is a third-party administrator (TPA) that manages self-funded, level-funded, and graded-funded employer health benefit plans. Core services include manual claims review and processing, enrollment management, ACA 6055 and 6056 regulatory reporting, compliance assistance, and administration of tax-advantaged accounts (ICHRA, QSEHRA, HRA, FSA, HSA) along with Limited Benefit and MEC plans.
Product overview
Preferred Benefit Administrators is a Third-Party Administrator (TPA) offering a unified benefits administration platform. The core product portfolio includes Health Plan Administration (managing self-funded, level-funded, and graded-funded plans), Limited Benefit and MEC Plan Administration, Compliance and Regulatory Assistance, and account-based benefit administration (ICHRA, QSEHRA, HRA, FSA, HSA). The company also provides ACA 6055 & 6056 Reporting Services and member-facing Online Portals. All services are delivered through manual claims review processes, distinguishing their approach from auto-adjudication, with a claimed accuracy rate exceeding 99%.
Differentiator
Problem solved
Functional benefit
Products and services
- Health Plan Administration Comprehensive management of self-funded, level-funded, and graded-funded health benefit plans for employers, including streamlined enrollment and precise claims processing reviewed manually by trained specialists (over 99% accuracy), without auto-adjudication.
- Limited Benefit and MEC Plan Administration Administration of Limited Benefit and Minimum Essential Coverage (MEC) plans that deliver essential health coverage at an affordable cost for employers and their employees.
- Compliance and Regulatory Assistance Expert guidance and support ensuring employer benefits plans adhere to federal and state requirements, including ACA reporting, reducing risk of penalties for employers.
- ICHRA, QSEHRA, HRA, FSA, HSA Administration Administration of Individual Coverage HRA, Qualified Small Employer HRA, Health Reimbursement Arrangement, Flexible Spending Account, and Health Savings Account plans, providing flexible tax-advantaged solutions from enrollment through claims processing.
- ACA 6055 & 6056 Reporting Services ACA compliance reporting covering 6055 (minimum essential coverage reporting) and 6056 (employer shared responsibility) filing, including 1095 form distribution and IRS electronic filing, with no setup fees.
- Member, Employer, and Provider Online Portals Real-time web-based portals (HealthX-based) providing members, employers, and healthcare providers access to claim status, benefit information, and eligibility records.
Companies that use Preferred Benefit Administrators
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles2 records
Preferred Benefit Administrators technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration14 records
Feature2 records
Preferred Benefit Administrators partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core.
- MultiPlancoreNetwork partner providing access to their provider network for PBA-administered health plans.
- Employers Health Network (EHN)coreNetwork partnership providing provider access for employer health plan administration.
- First Health Provider NetworkcoreProvider network partner offering access to healthcare providers for PBA-administered plans.
- WellDynecorePharmacy benefit management partner providing prescription drug coverage services.
- CignacoreHealth insurance and benefits partner providing network and coverage services.
- Prime TherapeuticscorePharmacy benefit management partner.
- Verus RxcorePharmacy benefit management services partner.
- MedImpactcorePharmacy benefit management partner providing prescription drug program services.
- MagellancoreBehavioral health and specialty health solutions partner.
- OptumcoreHealth services and technology partner providing analytics and care services.
- HealthSmart NetworkcoreProvider network partner offering healthcare provider access.
- TeladoccoreTelehealth services partner providing virtual care access for members.
- CVS HealthcorePharmacy and health services partner providing retail pharmacy network access.
Scale indicators3 records
Recent moves5 records
Expansion highlights4 records
Preferred Benefit Administrators competitors and assessment
Company assessmentBroad incumbents
- UMR: UnitedHealth Group's TPA subsidiary handling self-funded plans for employers nationwide; competes for the same mid-market and enterprise employer clients as PBA but at significantly larger scale and with broader UnitedHealthcare integration.
- Mercer (Marsh McLennan): Global benefits consultancy that also delivers outsourced benefits administration for large employers, offering self-funded plan administration capabilities that compete for the same employers PBA serves—typically at the upper end of the market.
Direct peers
- WebTPA: Health Care Service Corporation's TPA arm providing third-party administration for self-funded plans, including claims processing, network access, and member services—directly comparable in core offering to PBA.
- Benefit Plan Services (now SISCO / BPS): Independent third-party administrator providing self-funded health plan administration, COBRA, FSA/HRA, and compliance services for employers—a near-analog mid-market TPA to PBA.
- TASC (Total Administrative Services Corporation): Benefits administration firm offering FSA, HRA, HSA, COBRA, and retiree billing alongside plan-administration services, overlapping directly with PBA's account-based benefit administration practice.
- Allied Benefit Systems: Independent TPA administering self-funded health and welfare plans for employers with claims, network, and HRA/FSA services—a like-for-like mid-market competitor to PBA.
- CoreSource: A Cigna-owned TPA administering self-funded employer health plans with eligibility, claims, and reporting services—closely comparable in product scope and employer client focus to Preferred Benefit Administrators.
- BenefitMall: TPA and broker-services platform serving small and mid-sized employers with health, dental, and voluntary benefits administration—directly competitive in the broker-channel and mid-market segments PBA targets.
- Key Benefit Administrators: Mid-sized TPA administering self-funded plans for employers nationwide, including claims, eligibility, and ACA reporting—closely mirror's PBA's employer-segment and service-line focus.
- Health Plan Administrators: Independent TPA focused on self-funded and level-funded employer plans with claims, eligibility, and HRA/FSA administration—overlapping services and customer profile with PBA.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Preferred Benefit Administrators financial estimates
Financial estimateRevenue estimate
Valuation estimate
Preferred Benefit Administrators leadership team
Management profileNumber of profiles
Preferred Benefit Administrators funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Preferred Benefit Administrators 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 Preferred Benefit Administrators
What does Preferred Benefit Administrators do?
Preferred Benefit Administrators is a third-party administrator (TPA) that manages self-funded, level-funded, and graded-funded employer health benefit plans. Core services include manual claims review and processing, enrollment management, ACA 6055 and 6056 regulatory reporting, compliance assistance, and administration of tax-advantaged accounts (ICHRA, QSEHRA, HRA, FSA, HSA) along with Limited Benefit and MEC plans.
Is Preferred Benefit Administrators a public or private company?
Preferred Benefit Administrators is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Preferred Benefit Administrators founded?
Preferred Benefit Administrators was founded in 1997. It employs 11 to 50 people.
Where is Preferred Benefit Administrators based?
Preferred Benefit Administrators is headquartered in Longwood, United States, in the North America region.
How does Preferred Benefit Administrators make money?
One revenue line is on record: TPA Administration Fees.
Who are Preferred Benefit Administrators's main competitors?
Broad incumbents on record are UMR and Mercer (Marsh McLennan). Direct peers are WebTPA, Benefit Plan Services (now SISCO / BPS), TASC (Total Administrative Services Corporation), Allied Benefit Systems, CoreSource, BenefitMall, Key Benefit Administrators and Health Plan Administrators.
Does Preferred Benefit Administrators have an API?
No public API is recorded for Preferred Benefit Administrators.
What industry is Preferred Benefit Administrators in?
Preferred Benefit Administrators's product category is Third-Party Benefits Administration. Its primary akta.pro industry code is HLAEALAA, Self-Funded Employer Plan TPA (ASO Administration). Its NAICS code is 524292 and its SIC code is 6324.