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Thatch raises $40M to give employees more control of their health care choices
Apr 8, 2025
A startup called Thatch has just secured $40 million to revolutionize health insurance. Their innovative Individual Coverage Health Reimbursement Arrangements (ICHRA) allow employees to tailor their health plans to better fit their needs. In just 18 months, they've onboarded over 1,000 businesses, showcasing their rapid growth. The founders share insights on their vision for a modern marketplace that simplifies employee healthcare benefits and enhances decision-making.
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Quick takeaways
- Thatch is revolutionizing health insurance by enabling employees to select their personalized insurance plans through Individual Coverage Health Reimbursement Arrangements.
- The startup's strategic partnerships and innovative fintech solutions are crucial to its rapid growth and widespread adoption in the healthcare market.
Deep dives
Thatch's Innovative Health Insurance Model
Thatch is redefining the health insurance landscape by offering Individual Coverage Health Reimbursement Arrangements (ICHRA), which empower employees to choose personalized health plans. Unlike traditional Health Reimbursement Arrangements (HRA), which only cover specific medical expenses, ICHRA allows employers to provide employees with funds to cover individual medical insurance premiums. For example, an employee can receive $1,000 monthly to allocate towards an insurance plan or personal health expenses, offering greater flexibility and choice. This model supports employees' needs and preferences, encouraging better satisfaction with their healthcare options.
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