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Benefitbay
Benefitbay
benefitbay.com

Locations

Kansas City, MO, USA · Omaha, NE, USA · Omaha, NE, USA

industry

Finance · Insurance

Size

11-50 employees

Stage

Seed

founded in

2013

BenefitBay is a platform for brokers, employers, and employees that enables quick and simple ICHRA deployment for companies of all sizes. First available in January of 2020, ICHRA (pronounced ick-ra) stands for Individual Coverage Health Reimbursement Arrangement. With ICHRA, employers can provide an allowance of tax-free dollars to their employees, who then use those dollars to shop for a health plan that meets their own specific needs. No more one-size-fits-all group package. Employers can provide wonderful health plans for their team, individually tailored to each person’s needs, with a fixed, predictable cost. Experts anticipate a seismic shift in the benefits industry from group to individual as ICHRA plans will become a critical company feature when recruiting top talent. The best candidates will expect the freedom and portability that ICHRA allows. They will expect to be able to change jobs without having to change doctors.

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