FBMC Benefits Management, Inc

Nearly one in three employees are working remotely full-time today, rendering the current industry gold-standard employee benefits plans irrelevant. Employers are quickly realizing there’s no one-size-fits-all approach to benefits packages that can cater to all the nuanced requirements of every employee located in any corner of the world.

FBMC Benefits Management, Inc. (FBMC), one of the pioneers in the employee benefits domain, is leading the charge on this front, assisting forward-thinking employers in designing unique employee benefits packages that add both customization and flexibility to meet employee expectations. Having over four decades of experience tailoring employee benefits for the public sector, the company is now bringing a similar level of excellence to the private sector.

how they do it…
FBMC provides employee communication and benefit management solutions and partners with market-leading insurance providers to find the best possible way of customizing employee benefits for its clients. Underpinning this approach are the three core pillars of FBMC: providing innovative employee benefits plans, protecting clients with compliant benefits solutions, and ensuring provable quality results. From an innovation standpoint, FBMC uses a blend of technology solutions, communication solutions, and user self-service to offer a plethora of services, including brokerage and consulting, cost containment, and employee benefits management— ensuring that the benefits add value to both employees and employers. “Our team understands and listens to the client’s specific needs, and then leverages solutions that exist in the marketplace and brings a customized element and slant to them,” says David Faulkenberry, President and CEO of FBMC.

FBMC also understands that the administration of employee benefits can be extremely complicated and burdensome for many employers. Benefits administration often involves a lot of moving parts. It should integrate with the enrollment system and also with clients’ accounting system so that the payment for those benefits can be made in conjunction with the selections. Finally, it has to connect with the insurance carriers so that the benefits selections and payments can be pushed down to the insurance carrier. To streamline all these moving parts, FBMC takes the chosen benefits data, payroll deduction data, and the data enforced at the insurance carrier to merge it. The company then reconciles all the data to ensure that the employee coverage is being paid for and is enforced at the insurance carrier side of things as well.

Such an all-encompassing approach to employee benefits management and administration can be attributed to the vibrant and innovative culture that FBMC has championed over the years. This expertise, combined with the latest employee benefit management solutions, helps FBMC’s clients provide customized solutions specifically designed to employee needs.

Having already found wide adoption, FBMC now wants to further implement its solution in several other U.S. states to help employers ace in the balancing act of minimizing the cost of benefits while meeting the unique needs of their workforce. At the same time, FBMC is also looking to leverage its partnerships with insurance providers to be ahead of the curve on their product development side and proactively help clients. Through such endeavors, FBMC is keen to assume a strong leadership position and stay at the forefront of all the latest changes in the employee benefits industry.