NU Online News Service, June 2, 2003, 4:59 p.m. EDT – Word & Brown Insurance Administrators Inc., Orange, Calif., says it has acquired BenefitsAlliance, Walnut Creek, Calif., a unit of BenefitPoint Inc., San Francisco.
BenefitsAlliance runs a health purchasing program for California businesses with 51 to 5,000 employees. Businesses can use the BenefitsAlliance program to offer employees a choice of major medical coverage from four large carriers along with a menu of ancillary benefits, such as dental coverage, group life insurance and disability insurance.
BenefitPoint acquired BenefitsAlliance in 2001 for $94 million in cash and stock, according to an article that appeared on VentureWire.
Word & Brown already has a unit of its own, ChoiceAdministrators, that runs a benefits purchasing program for employers with two to 50 employees.
In May, Word & Brown said it would be using Web-based sales and administration systems developed by BenefitPoint.