BevCap Management has announced the formation of BevCap Sponsored Captive Insurance Inc., domiciled in Hawaii.
BevCap Sponsored Captive Insurance Inc. is a cell captive, with its first cell being BevCap Health, a heterogeneous group captive. BevCap Health is a self-funded health plan with group risk sharing. Members implement separate and distinct health plan designs, yet administer the plans as a group.
BevCap Health was founded in February 2013 with Standard Sales Company out of Odessa, Tesax. BevCap Health is comprised of five additional participants: Krey Distributing (St. Peters, Mo.), L&F Distributors (McAllen, Texas), Jordano’s (Santa Barbara, Calif), Andrews Distributing (Dallas, Texas), and TriEagle Sales (Tallahassee, Fla). Together BevCap Health covers over 3,000 employees.
Partners of BevCap Health include: USA Risk, Berkley Accident & Health LLC, Ameriben, Envision Rx, Healthcare Strategies and Cornerstone Risk Solutions.