What is Benistar Administrative Services?
Benistar Administrative Services is a nationally licensed Third Party Administrator specializing in customized medical and prescription benefit plan packages for group retirees. The company provides comprehensive consulting and administrative services to manage retiree health plans for a wide array of clients, including publicly and privately held corporations, labor unions, and government entities. With a strong emphasis on partnership and developing tailored solutions, Benistar has successfully administered retiree health plans for over 1,500 plan sponsors across the United States. Notably, Benistar is recognized as a women-owned business and holds key certifications such as HITRUST and SOC 2, attesting to its commitment to high-quality service delivery and robust data security.
How much funding has Benistar Administrative Services raised?
Benistar Administrative Services has raised a total of $1M across 1 funding round:
Debt
$1M
Debt (2020): $1M with participation from PPP
What's next for Benistar Administrative Services?
The recent major strategic investment into Benistar Administrative Services signals a pivotal moment for the company, likely enabling further expansion of its specialized retiree benefit administration services. This capital infusion is expected to bolster its capabilities in managing complex health plans for diverse client groups, potentially including public sector entities and large corporations. Given its focus on compliance and security, evidenced by HITRUST and SOC 2 certifications, Benistar is well-positioned to capitalize on the growing demand for reliable and compliant retiree healthcare solutions. Future developments may involve enhancing digital platforms for plan management or expanding service offerings to address evolving healthcare regulations and participant needs.
See full Benistar Administrative Services company page
