The Boon Group, Inc.
is the parent holding company of The Boon Insurance Agency, Inc., Boon
Administrative Services, Inc. (formerly named CEBA®), Boon Insurance Management
Services, L.P., and Boon Investment Group, Inc. The Boon Group® was formed to
enhance the position of these companies as a wholesaler of exclusive products
and services. With over 28 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.
Boon
Administrative Services, Inc.,
(formerly named “Contractors Employee Benefits Administration, Inc.,”) a
licensed third
party administrator, was formed in 1991 to provide the necessary premium
administration to enable the plans to run smoothly.
In 1994, Boon Administrative Services (known at that
time as “CEBA®”) began paying claims for fully insured and self insured
medical, dental, disability, and vision plans. Additionally,
effective January 1, 2010, Foundation Benefits Administrators, Inc., another
licensed third party administrator and a wholly owned subsidiary of The Boon
Group, Inc. that specialized in providing administrative services for
commercial voluntary plans merged with Boon Administrative Services, Inc. The
management team at Boon Administrative Services, Inc. has over twenty five
years of experience. Boon
Administrative Services, Inc. provides flexible administrative services, claims
adjudication services and customer service for Boon Administrative Services,
Inc. provides specialized administrative services so that employers can provide
benefits to their hourly employees for employer paid and for commercial
voluntary medical, dental, vision, life and short-term disability benefit
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.
Boon
Investment Group, Inc.
is a state registered investment advisor, located in
Austin,
Texas
and is dedicated to providing effective and proper professional investment
management services to pension and profit sharing plans.
Services provided may involve asset allocation reviews, performance
monitoring, portfolio structure analysis, meeting with plan participants, fund
selection and conducting educational and enrollment meetings. Employees of Boon
Investment Group, Inc. serve as Investment Adviser Representatives to the plan.