A letter from our Chairman
Dear Sir or Madam,
We believe we are the nation’s best benefits manager.
Founded in 1976, employee-owned FBMC Benefits Management, Inc., is a private Florida corporation with no affiliation or dependence on a parent corporation (such as an insurance company or bank). We are an INDEPENDENT benefits manager.
FBMC clients are countrywide, from Virginia to California, and diversified, from state governments and school districts (including many of the largest in the nation), to mid-size companies such as hospitals. Business Insurance Magazine ranks us as the largest Benefits Specialist in the nation among companies who derive 100 percent of their revenues from employee benefits.
We focus exclusively on employee benefits. Our Mission Statement says it all:
“We shall excel as the Nation’s biggest and best Benefits Specialist whose only business is and will be employee benefits. We shall exceed our clients’ expectations by creating, communicating and managing their customized employee benefits plans.”
A COMMITMENT TO HIGHER STANDARDS
FBMC’S quality initiatives and “best business” practices are modeled on National Malcolm Baldrige Award winners and the Florida Governor’s Sterling Award for Performance Excellence recipients. Our corporation has successfully completed the stringent Governor's Sterling Award and received recognition and role model status for our wellness initiatives.
FBMC has consistently received Fairness Opinions from independent auditors with management letters indicating no material weakness or significant deficiencies over the course of our entire history. We regularly undergo a Statement on Standards for Attestation Engagements (SSAE No. 16, Type II) internal control assessment. The Opinions and the SSAE 16 ensure services are held to higher standards and our customer information is secure.
The more-than-40 insurance companies with whom we have brokerage agreements are among the best in the industry with excellent financial ratings. We have no ownership or financial relationship with any company that would compromise our independence. All compensation agreements are disclosed.
FBMC annually creates performance metrics for every company activity and publishes internal monthly scorecards. These processes are used for creating job performance standards for all staff.
A HISTORY OF INTEGRITY
FBMC legal, compliance and quality control responsibilities are consolidated under the leadership of a Vice President who reports directly to our President and Chairman of the Board. FBMC has:
- never been fined or penalized by State Attorneys General or any other regulatory authorities, including the Insurance Departments in the states where we are licensed
- never had a plan disqualified by a regulatory agency
- never had a contract canceled by a client
- never had a client with a regulatory problem or penalty as a result of our service or advice
- never had a computer failure which resulted in a material disruption of service
As an extra measure of protection for our clients and commitment to our employees, FBMC does not outsource public employer data to foreign countries and has no plans to do so.
A PROMISE OF PERMANANCE
Experience is the key to handling employee benefits. Expect a wealth of know-how bolstered by a company always at the forefront.
We value long-term client relationships. Our characteristic client has used our services for over 10 years. FBMC wins renewal bids time and time again, and our periodic client surveys indicate high levels of satisfaction.
Our clients enthusiastically endorse FBMC’s record of complete enrollment management customized for every employer. Seven times we have won the nationally recognized APEX Award for the quality of our enrollment educational materials.
A PLEDGE OF SATISFACTION
One reason we are a trusted advisor for your employee benefits plan is OUR GUARANTEE:
“If you hire us, we guarantee your satisfaction. If you are not satisfied, tell us and we will correct any problem within 30 days at our expense. If you are still dissatisfied after the 30 days, you may terminate our contract immediately. We will turn over all records to your new administrator and - at our expense - facilitate the transition. We will refund all fees for the prior 60-day period if you are not satisfied.”
I want you to know that this is a sincere commitment from me. You should expect nothing less from FBMC.
Michael H. Sheridan
Chairman of the Board