C. L. Frates and Company was a privately owned Insurance agency founded in Oklahoma City, Oklahoma in 1924. The agency provided the full spectrum of Insurance, Risk Management and Third Party Benefit Administration. In 1988, C. L. Frates and Company expanded to provide Third Party Administration services. In 2010, C. L. Frates and Company’s Third Party Administration operations began doing business as Frates Benefit Administrators and appointed Rick Franklin its CEO. On May 1, 2014, RMJP Equity, Inc., a corporation led by Franklin, purchased the assets of Frates Benefit Administrators.
Frates Benefit Administrators administers all types of self-funded employee benefit plans; Section 125 plans; and other reimbursement plans such as Health Savings Accounts, Health Reimbursement Arrangements and Medical Expense Reimbursement Accounts. Frates Benefits Administrators provides services for various single and multiple employer clients. This includes school districts, municipalities, private and city owned hospitals and a variety of other industries.