What is Benistar Administrative Services?
Benistar Administrative Services operates as a nationally licensed Third Party Administrator, focusing on the development and administration of tailored retiree health plans. The company serves a broad clientele, including publicly and privately held corporations, labor unions, and government entities, managing health plans for over 1,500 plan sponsors across the United States. Recognized as a women-owned business, Benistar also holds HITRUST and SOC 2 certifications, attesting to its commitment to high-quality service and data security in the administration of complex benefit packages.
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 in Benistar Administrative Services is poised to accelerate its expansion and enhance its service offerings in the competitive retiree benefits administration market. This capital infusion is expected to support technological advancements, broader market outreach, and the development of innovative solutions for managing group retiree health and prescription plans. As a key player in this niche, Benistar's strategic financing will likely fortify its position and enable further growth in serving its diverse client base.
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