Benaissance

Benaissance, founded in 2002 by Tom L. Torre, operated as a key player in the health benefits administration sector for nearly two decades. The company's leadership team, which included John H. Esser, initially focused on COBRA administration, leveraging their deep industry expertise to build a significant financial management presence. This foundation allowed them to address the complex challenges of benefits administration.

The firm developed enterprise-level, cloud-based SaaS platforms, COBRApoint and ExchangePoint, to streamline benefits and payment processes. COBRApoint was designed specifically for COBRA and direct-billing administration, while ExchangePoint catered to public and private health insurance exchanges. These solutions automated premium billing and payment collection, serving a client base that included third-party administrators, insurance carriers, and financial institutions. Benaissance's business model was centered on providing these software-as-a-service solutions to manage the financial aspects of health benefits for millions of consumers.

A significant milestone in the company's trajectory was its acquisition by Evolution1 in November 2015. This event marked a strategic consolidation within the healthcare technology space, integrating Benaissance's specialized platforms into a larger ecosystem. Following this, the company was rebranded as WEX Health in April 2016, and its core platforms, COBRApoint and ExchangePoint, were incorporated into the WEX Health Cloud. These platforms continue to support private, federally-managed, and state-based health marketplaces, facilitating access to and payment for health benefits for numerous families.

Keywords: health benefits administration, COBRA, SaaS platforms, financial management, premium billing, payment processing, health insurance exchanges, third-party administrators, benefits administration, WEX Health