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HAN Benefit Advantage Inc. (dba BenAdvance)

 

 

 

Industry/Market: Health insurance and supplemental benefits for small businesses, sole proprietors, and association and union members. The $550 billion health insurance market is roiled by price increases and confused access to coverage.

 

Business: BenAdvance solutions provide some 10-20% in savings compared with other available coverage. This is due to the ability to service associations and smaller groups, which the major carriers shun. The Company has relationships with MetLife, Prudential, Standard Life, and others.

 

 

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The Company also owns the technology platform that drives a clean, consumer-friendly digital front end and which has sophisticated administrative tools on the back end. These tools calculate broker commissions and splits among the various parties in the insurance chain.

 

Management:

 

 

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Anthony Milone, CEO. President and Founder of Health Alliance Network; former Chairman of Qualcare Alliance Network; Founder of Transworld Home Healthcare.

 

 

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Rob Siegel, President. Founding partner and EVP of Business Development for Benefitport. Partner at Weston Insurance Brokerage, helping to build it into the largest NY, NJ, CT employee benefits general agency with more than $2 billion in premiums.

 

 

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Tim Varone, SVP Sales. Director of small group new business at AmeriHealth, helping to catapult it to a top three small group carrier in NJ. Director of Sales Nippon Life Benefits, expanding the NJ health insurance block from under $1 million to more than $50 million annually.

 

Capital: BenAdvance has raised $4.6 million from outside investors to develop the technology, carrier relationships, and a distribution strategy.

 

 

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Management desires to raise an additional $3 million by year-end 2020 to invest in the distribution network and administration. These funds are needed to process the tens of thousands of lives management believes are ready to sign on. Contact the Company for details of the offering.

 

Website

 

Offices: 411 Theo Fremd Ave., Suite 132, Rye, NY 10580

 

Contact: Andy Goodenough, Director of Business Development. 914.714.2608 or andy.goodenough@benadvance.com.

 

 

 

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For more detailed information, please contact one of the following individuals:

 

William J. Ritger at 561.891.1903 or writger@gmail.com

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