If you feel you are being paid fairly this implies you feel the pay your receive is appropriate for the amount of value that you add. In such a situation, what is the reason you feel the company should pay you more?
On the other hand, if you do not feel that the pay is fair for the value that you add, you can always negotiate. In that case, you should be able to document what causes the discrepancy. Do you have data about the earnings of developers performing similar job duties for the same or similar companies? Have you received job offers yourself that would imply a market rate for your wage that is higher than your current pay rate? If you can provide strong answers to these questions, then you should feel confident asking for a raise.
If you feel the pay is fair, then perhaps contemplate other features of the job. Does it afford you enough vacation and personal time? Do you have the work/life balance that you desire? Do you have a severance pay benefit in the event of lay-offs? Do you have the insurance benefits you desire?
Perhaps if the pay is fair, yet some of these other features are not what you're looking for, then you can describe the situation with your manager. Reassure your manager that you're not looking for something unreasonable and that this is not at all about leaving for a new job -- it's just about rewarding the value that you add by supplying job features that make you happy with the position.
The last thing to keep in mind is that salary questions can cause unintended side effects. In theory, your manager and the HR department, etc., should look at it in cold, rational, expected-utility kinds of terms. But humans are rarely capable of sustaining dispassionate calculation of that sort. Bosses and senior managers can become complacent, acting betrayed or offended, merely because a subordinate questions the status quo. Sometimes this can come way out of left field from a person who seemed to be a collegial coworker.
I'm not saying it will happen to you, but you should at least contemplate what that would be like and prepare for it. In the extreme case, managers may interpret your request as a demand, no matter how gently or delicately you phrase it, and they may begin looking for ways to replace you or build redundancy into your team as a way to hedge against your future dissatisfaction without having to bear the cost of meeting your stated preferences. In my experience, this is less likely to happen if you are asking for more vacation or some modifications to your benefits. When you raise questions about pay, people can become weird on you for seemingly no reason.