This is great! As a founder, I have long felt employee-sponsored health care is awful. A company should not be required to be intertwined in the medical concerns of their employees. It is a very weird conflict of interest. I am solidly behind the complete unwinding of employer-sponsored health care plans.
Also insurers are very predatory towards small groups. There shouldn’t be small Or large groups! It’s a bogus way for insurers to price discriminate and cherry pick.
The other really weird thing is that monetarily employees do not fully value the employer health care contributions. And it’s even stranger when picking coverage for families. So the idea of being able to have a flat monthly “contribution benefit” really helps both sides have more transparency around the financial benefit of health care.
If market-based health care can ever work, it has to be in an efficient market something like this. This is great news and I agree it could be huge! Good luck with the launch.
I should add that at my last company we switched to a PEO mainly due to the advantages in health insurance prices and administration. JustWorks has been amazing. You might look at how they do the onboarding and maintenance of plans as a low-friction way to handle this. If you could partner w payroll companies you could integrate your solution completely into the hr onboarding process and get access to a huge distribution channel.
Also insurers are very predatory towards small groups. There shouldn’t be small Or large groups! It’s a bogus way for insurers to price discriminate and cherry pick.
The other really weird thing is that monetarily employees do not fully value the employer health care contributions. And it’s even stranger when picking coverage for families. So the idea of being able to have a flat monthly “contribution benefit” really helps both sides have more transparency around the financial benefit of health care.
If market-based health care can ever work, it has to be in an efficient market something like this. This is great news and I agree it could be huge! Good luck with the launch.