About Us

Our History

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1982

Developing proprietary products for unmet government contractor needs

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R. Sterling Boon formed The Boon Insurance Agency, Inc. in 1982 and quickly discovered there were very few products that met the unique needs of government contractors who have limited fixed budgets for benefits and employ predominantly hourly employees with high turnover rates. The Boon Insurance Agency began developing its own proprietary products to fill this market void.

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1990

Evolving into administration

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It became clear that the products themselves only solved part of the problem. The large insurance companies that were underwriting and insuring these products were not flexible enough to process premiums for benefits on an hourly cost basis, which is necessary in providing benefits to contractors’ employees.

Boon Administrative Services, Inc., (formerly named “Contractors Employee Benefits Administration, Inc., or CEBA®”) a licensed third-party administrator, was formed in 1990 to provide premium administration and enable plans to run smoothly.

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1994

Expanding range of administrative services

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In 1994 Boon Administrative Services, Inc. began paying claims for fully insured and self-insured medical, dental, disability and vision plans. Effective January 1, 2010, Foundation Benefits Administrators, Inc., another licensed third-party administrator and a wholly owned subsidiary of The Boon Group, Inc. that specialized in providing administrative services for commercial voluntary plans, merged with Boon Administrative Services, Inc. Boon Administrative Services, Inc. provides flexible administrative services and claims adjudication services so employers can provide benefits to their hourly employees for employer paid and for commercial voluntary medical, dental, vision, life and short-term disability benefit plans.

Boon Insurance Management Services, LP provides “back office” support to the other Boon subsidiaries, with services that do not require either a third-party administrator license or an insurance agency/producer license. Such services include legal compliance and licensing services, accounting services, human resources services, information technology and information systems services, plus operations and facilities.

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2009

Expanding the retirement management services

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Boon Investment Group, Inc., owned by The Boon Group®, a state Registered Investment Advisor, located in Austin, Texas was formed in 2009 to expand the retirement plan services that were already being provided by The Boon Group subsidiaries. Boon Investment Group. Inc. is dedicated to providing effective and proper professional investment management services to pension and profit sharing plans. The company provides services such as asset allocation reviews, performance monitoring, portfolio structure analysis and fund selection and conducts educational and enrollment meetings. Employees of Boon Investment Group, Inc. serve as Investment Advisor Representatives to the plans.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. The Boon Group is not affiliated with Kestra IS or Kestra AS.

Products are marketed through The Boon Insurance Agency, Inc., and administered by Boon Administrative Services, Inc., wholly owned subsidiaries of The Boon Group, Inc.

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2010

Adding health and welfare products for SCA and AbilityOne

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In December 2010, The Boon Group acquired Health & Welfare Benefit Systems, Inc. (H&WBS). H&WBS provides personalized professional service of health and welfare products for employers awarded federal contracts under the Service Contract Act and AbilityOne. Through a self-funded plan approach, H&WBS administers health and welfare plans that provide medical, dental, vision, prescription card, disability and death benefits. Plan designs incorporate a preferred provider network of physicians. H&WBS also offers turnkey administration for I.R.C. 401(a) retirement plans.

Securities offered through NFP Advisor Services, LLC, Member FINRA/SIPC. Investment Advisory Services offered through Boon Investment Group, Inc. NFP Advisor Services, LLC is not affiliated with Boon Investment Services, Inc.

Products are marketed through The Boon Insurance Agency, Inc., and administered by Boon Administrative Services, Inc., wholly owned subsidiaries of The Boon Group, Inc.