Taylor Boon, President and CEO, BoonTaylor Boon, President and CEO
For the past four decades, Boon has been providing employee benefits, insurance products, and administrative services to government contractors. The company helps clients get a competitive advantage on their Federal government contracts while providing meaningful value and straightforward benefits to their employee base. Over the years, Boon has enabled numerous clients to meet the unique needs of hourly employees. In addition to the Federal government space, Boon helps contractors navigate contracts subject to living wage ordinances in cities like San Francisco or Miami.

In a conversation with Manage HR magazine, Taylor Boon, President and CEO, covers the unique approach Boon takes to provide innovative solutions that meet the unique needs of clients.

Challenges Faced in the Benefits Administration Space

Inflation has shifted the expectations of employees regarding their compensation packages, which has led employers to reconsider their approach to employee benefits. Companies aren’t contributing as much to dental or disability premiums as they were doing in the past to keep up with rising wage requirements.

Boon is focused on listening to the market. We feel that the focus today should be on lowering out-of-pocket costs for employees. There is also a need to provide meaningful benefits to dependents.

The Davis-Bacon Act (DBA) and Service Contract Act (SCA) also obligate companies to pay a certain amount of base wage, health insurance, and other benefits to workers while working with the federal government. We help contractors convert that monthly price plan to an hourly cost that they can compliantly apply to their government contracts. This is important given that many companies look to do business with the government, especially under the Infrastructure Investment and Jobs Act.

It is expected to create nearly one million new jobs, covered by the wage requirements.

The hourly benefit plans we design are cost-effective and meet the requirements of federal contractors working under the Davis-Bacon Act or Service Contract Act.

Expertise and Capabilities

Boon is a marketing and product designer with third-party administration, support, and background. Our primary product is a joint product with Aetna health care, specifically designed for federal government contractors to comply with the regulations imposed by the Davis-Bacon Act and Service Contract Act. In addition, we work closely with Transamerica and Aflac on hourly products. Our new relationship with Chubb is fascinating as it enables us to introduce unique capabilities to the government contractor space.
  • The hourly benefit plans that we design are cost-effective and meet the requirements of federal contractors under the Davis-Bacon Act or Service Contract Act

We’re constantly innovating and coming up with new solutions, whether ancillary type programs like dental alliance, vision, telemedicine, virtual care, or traditional major medical plans. We are on a constant hunt for new avenues to explore, driven by the unique demands of businesses, which are generally brought to light by the brokerage community.

The Approach Taken by Boon

We undertake a consultative approach to designing compensation strategies for organizations. Most companies approaching us are non-traditional workforces looking for a unique plan or custom-designed offering. We help our clients design a robust package, from medical insurance to telemedicine access and virtual care.

We offer unique solutions for ever-expanding part-time, hourly, seasonal, and gig workforces. We specialize in designing innovative fringe benefit solutions to meet the unique needs of government contractors. Our 3Cs approach to benefits for government contractors allows us to create compliant, cost-effective, and competitive products.

Differentiating Factors from Other Players in the Space

We never hesitate to step out of our comfort zone to assist a client or broker and their clients in finding a program that fit their needs. Our clientele range is extensive and diverse; it even incorporates the country’s largest employers and reputed government contractors. All of them work with Boon for different reasons. Needless to say, we have the flexibility to cater to the needs of our diverse clientele.