What You Should Know:
– Thatch, a pioneering healthcare benefits platform, has secured $38M in Series A funding to fuel its mission of decoupling health insurance from employment.
– Led by Index Ventures and General Catalyst, this investment will enable Thatch to expand its team, scale its technology platform, and accelerate customer acquisition.
Addressing the Inefficiencies of Traditional Healthcare Benefits
The traditional model of employer-sponsored health insurance has become increasingly outdated in today’s dynamic job market. With the rise of gig workers and frequent job changes, employees often need more healthcare coverage. Additionally, rising healthcare costs place a significant burden on both employers and employees.
Thatch’s Innovative Solution
Thatch’s platform offers solutions to these challenges by leveraging the Individual Coverage Health Reimbursement Arrangement (ICHRA) law. ICHRA allows employers to provide tax-free dollars for employees to purchase their own health insurance plans.
Key features of the Thatch platform include:
- Simplified budget setting and fund allocation: Employers can easily set budgets and allocate funds for employee health benefits.
- Personalized plan selection tools: Employees can use Thatch’s intuitive tools to find the best health insurance plan for their individual needs.
- Integration of tax incentives and credits: Thatch helps employers and employees take advantage of tax incentives and credits to reduce healthcare costs.
- Cost savings: By leveraging pooled buying power, Thatch can help companies negotiate better rates with health insurance providers.
“Our vision is to create a healthcare system where employees can maintain great benefits from job to job, and where insurers are incentivized to invest in long-term member health,” added Adam Stevenson, Co-Founder at Thatch. “We’re building towards a future where every company, regardless of size, can offer top-tier health benefits to their employees.”
