Trustmark Health Benefits

What Trustmark Health Benefits does

Trustmark Health Benefits is a privately held, mutual-holding-company-structured benefits organization headquartered in Lake Forest, Illinois, operating three business units: Trustmark Voluntary Benefits (Life, Accident, Critical Illness, Disability, and Hospital insurance products sold as employer-sponsored voluntary benefits), Trustmark Small Business Benefits (level-funded and self-funded health benefit plans for employers with 5+ employees, administered by Star Marketing and Administration, Inc.), and HealthFitness (corporate fitness center design, management, and wellness programming). Insurance underwriting is conducted through regulated carrier subsidiaries including Trustmark Insurance Company, Trustmark Life Insurance Company, and Trustmark Life Insurance Company of New York, all of which hold an A.M. Best A (Excellent) financial strength rating. The consolidated Trustmark family reports $3.1 billion in assets and traces its origins to 1920, with the HealthFitness subsidiary founded in 1975.

The company's technology stack centers on insurance policy administration and claims processing platforms, including the myvb.trustmarkbenefits.com policyholder portal, the TrustmarkSB.com small business administration portal, provider portals for claims and eligibility, and the acquired Enroll For Life enrollment technology. Branded product platforms include Trustmark Life + Care, Universal LifeEvents, Universal Life Choice, Critical HealthEvents, Paycheck Protect, and Hospital StayPay. Trustmark integrates external services including Cigna PPO Network access for self-funded plans, Healthcare Bluebook for cost transparency, and Cariloop for caregiver support. The company explicitly does not publish a developer-facing API or SDK.

Trustmark generates revenue through three primary streams: recurring insurance premiums on voluntary benefits products paid via employer-sponsored payroll deduction, managed-services fees for self-funded and level-funded health plan administration combined with stop-loss insurance premiums, and managed-services revenue from HealthFitness corporate fitness contracts. Distribution is sales-led and broker-channel-dependent, with regional sales directors covering defined US territories and products sold exclusively through insurance brokers and enrollment firms to employers and employees nationwide.

Name

Trustmark Health Benefits

Legal name

Trustmark

Website

https://trustmarkbenefits.com

Company type

Private

Founded year

1920

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Trustmark Health Benefits is a privately held mutual holding company that underwrites voluntary benefits (life, accident, critical illness, disability, hospital) and administers self-funded health plans for small and mid-size US employers with 5+ employees, and operates HealthFitness corporate fitness and wellness programs.

Ownership category

akta.pro rank

Product category

Employee Health Benefits Administration and Insurance

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Direct Health and Medical Insurance Carriers (524114), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311), Accident & Health Insurance (6321), Hospital & Medical Service Plans (6324)

akta.pro primary industry

Ancillary Employer Benefits (Life/Disability/Accident/Critical Illness) (HLAEAAAK)

Keywords

• Voluntary benefits administration
• Self-funded health plans
• Employer-sponsored insurance
• Supplemental insurance products
• Corporate fitness management

Headquarters

HQ city

Lake Forest

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Voluntary Benefits Insurance Premiums: Collection of insurance premiums from employer-sponsored voluntary benefit products including life, accident, critical illness, disability, and hospital insurance. These are typically paid through payroll deductions.
2. Self-Funded Health Benefit Plans: Level-funded and self-funded health benefit plan administration for small to mid-size employers with 5+ employees. Revenue comes from plan administration fees and stop-loss insurance premiums.
3. HealthFitness Corporate Fitness Solutions: Fitness center management and wellness programs for corporate clients including facility design, operations management, and programming services.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Trustmark Health Benefits is a third-party administrator of health and welfare benefits delivering voluntary benefits (life, accident, critical illness, disability, and hospital indemnity insurance) and self-funded/level-funded health benefit plan designs to small and mid-size employers with 5+ employees. The company also provides corporate fitness center design, management, and wellness programming through its HealthFitness subsidiary, with policy administration and claims processing supported by Star Marketing and Administration, Inc. and stop-loss coverage underwritten by Trustmark Life Insurance Company.

Product overview

Trustmark Health Benefits operates as a diversified employee benefits company with three core business units: Voluntary Benefits (supplemental insurance including life, accident, critical illness, disability, and hospital coverage), Small Business Benefits (level-funded and self-funded health plans for employers with 5+ employees), and HealthFitness (corporate fitness center design, management, and wellness programming). The portfolio includes branded products like Hospital StayPay, Paycheck Protect, Accident Insurance, Critical HealthEvents, Trustmark Life + Care, Universal LifeEvents, and Universal Life Choice under Voluntary Benefits; and non-major medical, major medical, HRA, ancillary, and wellness offerings under Small Business Benefits. Plans are administered by Star Marketing and Administration, Inc., with stop-loss insurance provided by Trustmark Life Insurance Company. The company is part of Trustmark Mutual Holding Company with consolidated assets of $3.1 billion and over 110 collective years in employee benefits.

Differentiator

Problem solved

Functional benefit

Products and services

• Hospital StayPay Hospital indemnity insurance that pays cash directly to policyholders for days spent in the hospital, regardless of other coverage, to help cover out-of-pocket costs associated with hospital stays. Distributed as a voluntary benefit through employer-sponsored programs.
• Paycheck Protect Disability insurance that replaces a portion of an employee's paycheck when they cannot work due to sickness or injury, providing income protection. Offered as a voluntary benefit through employer benefit programs.
• Accident Insurance Supplemental accident insurance that pays cash directly to policyholders for treatment of covered accidents, regardless of other insurance payments, helping cover sudden out-of-pocket expenses. Offered as a voluntary benefit through employers.
• Critical HealthEvents Critical illness insurance that pays cash benefits for the diagnosis of covered conditions such as cancer, heart attack, and stroke, with partial payments for earlier-stage diagnoses and annual benefit restoration each calendar year. Offered as a voluntary benefit.
• Trustmark Life + Care Permanent term life insurance with long-term care benefits, providing cash benefits for professional caregiving and family caregiving. Available as an employer-paid or voluntary benefit with Simplified Issue Underwriting, with automatic access to Cariloop care management services.
• Universal LifeEvents Universal life insurance with a long-term care benefit, providing a higher death benefit during working years that reduces at age 70 while maintaining full long-term care benefit availability. Distributed as a voluntary benefit.
• Universal Life Choice Flexible universal life insurance allowing policyholders to increase or decrease benefits, adjust premiums, change beneficiaries, take loans, or make partial surrenders while maintaining coverage. Distributed through the voluntary benefits channel.
• Small Business Benefits (Self-Funded Health Benefit Plan Administration) Level-funded and self-funded health benefit plan designs for small to mid-size employers with 5+ employees, including reference-based pricing, major medical, non-major medical, HRA, ancillary coverage, and wellness services nationwide. Administered by Star Marketing and Administration, Inc. with stop-loss insurance underwritten by Trustmark Life Insurance Company and Cigna PPO network access.
• HealthFitness Corporate Fitness and Wellness Solutions Comprehensive fitness solutions for corporations and organizations, including on-site fitness center design, construction oversight, staffing, programming, and operational management, as well as virtual and hybrid fitness offerings. Wellness programming and recreation programming are also provided.

Quantifiable outcome

• 94% overall client satisfaction rating for HealthFitness
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• CariloopcoreTechnology or IntegrationCariloop provides professional coaching through their Caregiver Support Platform to Trustmark Life + Care policyholders. Policyholders receive automatic access to Cariloop's personalized care guidance services for long-term care planning and caregiver support.
• CignacoreTechnology or IntegrationCigna PPO Network services are administered by Cigna Health and Life Insurance Company for Trustmark Small Business Benefits plans. Cigna provides national and regional PPO network access for self-funded health benefit plan designs.
• Star Marketing and Administration, Inc.coreImplementation/ SI/ Consulting PartnerStar Marketing and Administration, Inc. administers Trustmark Small Business Benefits self-funded health benefit plans including plan design, eligibility, claims processing, and billing. Stop-loss insurance is provided by Trustmark Life Insurance Company.
• Enroll For LifecoreStrategic or Co-development PartnerTrustmark acquired the Enroll For Life technology platform to enhance enrollment and administration capabilities for voluntary benefits products.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Personify Health:
• Lincoln Financial Group: Lincoln Financial's Group Protection business underwrites group disability, life, dental, and voluntary benefits sold through brokers, making it one of the closest direct comparables to Trustmark Voluntary Benefits across product mix and distribution model.
• Sun Life Financial: Sun Life U.S. competes directly in group benefits (life, disability, dental/vision) and is a leading stop-loss provider serving the same self-funded small and mid-size employer segment that Trustmark Small Business Benefits targets.
• MetLife: MetLife's Group Benefits division underwrites group life, disability, dental, and voluntary benefits for US employers through broker distribution, placing it head-to-head with Trustmark across both core and voluntary product lines.
• Unum Group: Unum is a leading provider of group disability, life, and voluntary benefits in the US, directly competing with Trustmark Voluntary Benefits across group life, disability, accident, and critical illness coverage sold through brokers to employers of all sizes.
• Aflac: Aflac is a direct competitor in voluntary/worksite benefits, especially cancer, critical illness, accident, and hospital indemnity insurance sold at the employer payroll-deduction level through brokers, mirroring Trustmark's core voluntary benefits model.

Broad incumbents

• Cigna Group: Cigna is both a partner (provides PPO network to Trustmark self-funded plans) and a broad incumbent competitor in US group health, stop-loss, and supplemental benefits with substantially larger scale and integrated PBM capabilities.
• Elevance Health: Elevance Health (Anthem) is a broad incumbent competitor in fully insured and self-funded small group health plans across multiple states, offering regional Blue Cross Blue Shield networks and ancillary benefits that overlap with Trustmark's small business portfolio.
• UnitedHealth Group: UnitedHealth (through UnitedHealthcare and Optum) competes across employer health benefits, stop-loss, and care delivery with national scale that dwarfs Trustmark, setting the competitive benchmark for self-funded plan administration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/Trustmark
• YouTubeyoutube.com/TrustmarkCompanies
• LinkedInlinkedin.com/company/trustmark-benefits
• Instagraminstagram.com/trustmarkbenefits

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries6 records

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 Trustmark Health Benefits