Fringe Benefit Group, Inc., an industry leader in the design, implementation and administration of benefits for hourly and part-time workers, and Century Healthcare (CHC), a north Texas-based company specializing in customized benefit plans for employers of all sizes with hourly employees, today announced they have combined – creating one of the nation’s largest providers of limited benefit medical plans. Terms of the transaction were not disclosed.
The combination brings together two highly regarded Texas companies specializing in ACA-compliant, turnkey solutions for employers with hourly employees.
“The combination of Fringe Benefit Group and CHC is a great fit for our employees, customers and brokers. CHC has an excellent reputation and has been in business for a long time and while we offer similar products, there is very little overlap in the customers we serve. Both companies have thrived during a period of great uncertainty in health insurance, which indicates there is a need for our products and I’m very excited about our future,” said Travis West, CEO of Fringe Benefit Group.
Michael Wilson, who has been CEO of CHC since acquiring the company in 2008, will become a shareholder, join Fringe Benefit Group’s board of directors and serve as a consultant to the company. “The CHC team prides ourselves for being flexible and adaptable in our ability to design, implement and administer customized benefit plans for employers of all sizes throughout the U.S. We are very excited about the opportunities ahead as we combine with Fringe Benefit Group. This will allow us to leverage and expand our capabilities and offerings to build a unique best of breed platform.”
About Fringe Benefit Group
Austin, Texas-based Fringe Benefit Group and its affiliate companies have helped employers design and administer fringe benefit programs since 1983. Through its nationwide network of independent brokers and agents, Fringe Benefit Group has established itself as the leader in government contractor health and welfare and retirement plans. Drawing on its expertise in the prevailing wage segment, the company has also emerged as a leader in group benefit plans designed specifically for hourly and part-time workers. For more information, visit www.fbg.com.
About Century Healthcare
Century Healthcare (CHC) is a full-service, licensed and bonded healthcare marketing and sales organization. The company specializes in the design, administration, and implementation of customized limited benefit medical plans and MEC plans for employer groups throughout the U.S. For more information, visit www.centuryhealthcare.com.