TALLAHASSEE, Fla., May 31, 2016 /PRNewswire/ -- FBMC Benefits Management, Inc. (FBMC), an employee benefits manager headquartered in Tallahassee, is proud to announce 40 years of excellence in providing and managing employee benefits. From the establishment of HMOs in the early 1970s to the passage of the Affordable Care Act (ACA) in 2010, the healthcare landscape has changed dramatically over the past 40 years, and FBMC has proven to be a stable presence in the employee-benefits industry throughout that time.
When FBMC first opened its doors in 1976 as Public Employees Services Company (PESCO), its sole commitment was to provide quality insurance and financial products for public school employees throughout Florida. FBMC has gone through many changes over its 40-year history, including multiple office relocations, a name change to Fringe Benefits Management Company in 1987, and company restructures including the addition of a tax-favored accounts division for administering Flexible Spending Accounts (FSAs) and Health Spending Accounts (HSAs). In 2010, FBMC experienced a paradigm shift involving the sale of FBMC's tax-favored accounts. This change resulted in the transition to a marketing, enrollment and brokerage firm business model and a corporate rebranding as FBMC Benefits Management, Inc. in that same year.
FBMC has come a long way since then, currently serving the benefits needs of employees and retirees through offices in six locations, and a client base that includes a variety of employer groups from associations to hospitals. FBMC is a one-stop-shop for the benefits needs of employers with services including brokerage, enrollment management, employee communications, and benefits administration. With increasing industry changes in the healthcare landscape, FBMC is always expanding its suite of services to include the latest benefit products and newest technologies to meet market demand.
FBMC Founder Michael Sheridan reflects, "When I conceived the idea of starting a company, it was to offer insured benefits to public school employees, who at the time were only just beginning to have collective bargaining rights and were significantly under-insured. In 40 years of providing benefits, I have seen the face of the benefits industry change with new legislation, new technologies and innovations in employee benefits administration, and it has been a pleasure to watch FBMC grow and change with the times."
As part of its expansion, FBMC is bringing in the new era with new positioning that emphasizes its total benefits solution, complete with a fresh new look and a redesigned website, www.fbmc.com. The new tagline, "A better way to benefit," represents FBMC's unique market positioning as the complete solution for employers seeking to provide benefits customized to the needs of their organization and workforce.
FBMC President David Faulkenberry notes, "FBMC has evolved over the years to stay ahead of industry changes and prosper in a fluctuating healthcare market, and will continue our commitment to providing innovative solutions for employers in the changing landscape of the healthcare industry."
FBMC Benefits Management, Inc. (FBMC), an industry leader for 40 years, provides comprehensive employee benefits management. FBMC affords employers customized solutions, including brokerage of voluntary/core products, benefits education and communications, enrollment management, and administrative and compliance services. It partners with only "best in industry" insurance providers with A- and above ratings. FBMC is headquartered in Tallahassee, Florida, with on-site client field offices throughout the United States. For more information about FBMC, visit www.fbmc.com and www.fbmclearningcenter.com.
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SOURCE FBMC Benefits Management, Inc.