FBMC's only business is employee benefits. We are neither in the P&C, the Worker's Compensation business, nor do we administer payroll or perform any other HR functions
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While we do sell direct, FBMC also honors existing Broker relationships with Clients. Once a Broker brings our services to one of their Clients and that contract is maintained, FBMC will protect all of the Brokers' identified business from any direct FBMC contact and will not give proposals to any other competitive Broker for those Clients.
FBMC compensates Brokers either on a fee basis or as a percentage of revenues from direct payments from Clients or their employees.
FBMC is a broker for employee benefits with contractual relationships and maintains over 40 well-rated companies that we view as Partners. Our company can provide brokered products but readily agrees that Brokers will often desire to place their own brokerage business.
Our primary market is for prospective Clients with 250 or more employees. We are very competitive in the large case environment and have the largest market share of State government cases for flexible benefits and tax favored spending accounts. Click here for further description of our Service Products.
We are prepared to serve as our Brokers' back office for employee benefit third party administration. We will honor any compensation arrangement between a Broker and their client as long as it is disclosed and transparent.
For self-funded medical plans, FBMC believes in Designed Services collaborations. Click here for an Executive Summary that describes our Deliverables. We have agreements with many companies who specialize in the various Deliverables that are necessary for a complete self-funded medical, dental or vision plan.
Deliverables include:
TPA claims (FBMC's function)
Stop loss insurance
PPO networks
Pharmacy Benefits Management
Utilization Review
Value added services, such as:
Subrogation
Employee Assistance
Online medical guidance
Healthcare Education
Wellness
Consultants:
FBMC is not in the consulting business and will honor any arrangement that exists between a Consultant and Client whose relationship depends on the TPA or Broker to compensate the Consultant, as long as those arrangements are disclosed and transparent.
We respect and will not interfere with any arrangements that a Consultant may have with a prospective Client.
Our company will respond to private sector proposals and public employer Requests For Proposals that are distributed by Consultants.
