The Boon Group, Inc. is the parent holding company of The Boon
Insurance Agency, Inc., Contractors Employee Benefits Administration,
Inc.(CEBA®), Foundation Benefits Administration, Inc.(FBA), and Boon Insurance
Management Services, L.P. The Boon Group® was formed to enhance the position of
these companies as a wholesaler of exclusive products and services. With over
20 years of experience in providing products and services, The Boon Group has
evolved into a national enterprise, becoming the "industry leader" in providing
affordable benefit solutions.
The Boon Insurance Agency, Inc. was formed in 1982 by R.
Sterling Boon. The Company quickly discovered that there were very few products
that met the unique needs of its niche market of government contractors.
Government contractors have limited fixed budgets for benefits and employ
predominantly hourly employees with high turnover rates, who work fluctuating
hours. As a result, The Boon Insurance Agency began developing its own
proprietary products, designed to meet contractors' requests. The Company
quickly realized that the development of its own products only solved part of
the problem for government contractors. The large insurance companies that were
underwriting and insuring these products were not flexible enough to process
premiums for benefits on an "hourly cost" basis, which is necessary in
providing benefits to the contractors' employees.
Contractors Employee Benefits Administration, Inc. (CEBA®), a
licensed third party administrator, was formed in 1991 to provide the necessary
premium administration to enable the plans to run smoothly. CEBA provides
specialized administrative services so that employers can provide benefits to
their hourly employees. In 1994, CEBA began paying claims for fully insured and
self insured medical, dental, disability, and vision plans.
Boon Insurance Management Services, LP is a Texas limited
partnership, where the general partner and the limited partner are corporate
entities wholly owned by The Boon Group, Inc. Boon Insurance Management
Services provides "back office" support to the other Boon subsidiaries and to
FBA, with services that do not require either a Third Party Administrator
license or an Insurance Agency/Producer license. Such services include legal,
compliance and licensing services, accounting services, human resources
services, information technology and information systems services, and
operations and facilities. Facilities and the above referenced services are
provided to the Boon entities and through a series of service agreements
and management contracts.
Foundation Benefits Administrators, Inc. (FBA) is a licensed
third party administrative company located in Austin, Texas. FBA is
a wholly owned subsidiary of The Boon Group, Inc. The management team at
FBA has over 15 years of experience and is dedicated to providing flexible
administrative services, claims adjudication services and customer service for
voluntary medical, dental, life and short-term disability benefit plans.
Additionally, through a strategic partnership with CEBA®, FBA provides all
administrative services for all commercial voluntary plans and for government
contractor employer groups domiciled and/or with employees residing in the
states of Arizona, Florida, Georgia, and Iowa.