A modern healthcare benefits pioneer, Thatch revolutionizes employer-sponsored health benefits with innovative fintech strategies. Founded by co-founders Chris and Adam, Thatch is on a mission to transform the conventional approach to health benefits, making them more accessible, efficient, and tailored to individual needs.
The journey from traditional group plans to flexible arrangements like the Individual Coverage Health Reimbursement Arrangement (ICHRA) is significant. Thatch stands at the forefront of this evolution, aiming to simplify and democratize wealth-building through its platform. ICHRA, a cornerstone of Thatch's strategy, takes center stage in reshaping how companies approach healthcare. The approach involves providing a tax-free budget to employees, empowering them to choose their own health plans. Thatch facilitates this process, ensuring compliance with healthcare laws and a seamless transition to ICHRAs.
Like David facing Goliath, small businesses find themselves in a challenging battle, grappling with the soaring costs of traditional group health plans as they strive to offer competitive benefits to their employees. Thatch tackles these giants and addresses this dilemma by providing a cost-effective alternative. The platform allows small businesses to deliver quality health benefits without the financial strain, contributing to enhanced employee retention and satisfaction. Personalization takes precedence in Thatch's philosophy, emphasizing the importance of employees choosing health plans that align with their needs. Thatch's platform enables empowerment, increases employee satisfaction, and improves health outcomes.
Thatch's commitment to innovation extends to a tech-forward approach, leveraging cutting-edge technology to modernize health benefits administration. Developed by top engineers and backed by some of the world's largest investors, Thatch's platform streamlines the setup and management of ICHRAs, making it a sophisticated solution for businesses in the digital age. A notable feature of Thatch is its emphasis on financial predictability for businesses. By setting fixed allowances for employees, companies can maintain control over healthcare spending, ensuring stability and cost-effectiveness year over year.
The future of work, shaped by remote arrangements and gig economy trends, necessitates adaptable health benefits. Thatch's platform is designed to meet the needs of a modern workforce, providing flexibility and autonomy in healthcare choices. The platform's distinctiveness lies in its ability to simplify a complex process. Focusing on providing a user-friendly experience, Thatch saves employers time and money, making healthcare benefits administration efficient and accessible.
Chris and Adam bring a wealth of experience to Thatch. With a background in leading go-to-market strategy at Agilent and founding the US sales team at Sophia Genetics, Chris deeply understands clinical informatics. Having spent seven years at Stripe, Adam founded and led technical teams, showcasing expertise in developing APIs to drive business outcomes.
Thatch's journey is rooted in a personal experience. As a distributed team, Thatch faced challenges with traditional group health insurance plans that didn't cater to the diverse geographic locations of its employees. Thatch emerged as a solution to its problem, with the team now utilizing Thatch for healthcare, saving money, and providing better coverage. Now, Thatch envisions a future where every modern company proudly uses the platform for healthcare.
Focusing on providing a default healthcare service for startups and SMBs, Thatch aims to redefine the healthcare benefits experience. Thatch's innovative approach to health benefits signifies a paradigm shift in the industry. By simplifying, personalizing, and leveraging technology, Thatch solidifies itself as a transformative platform, positively changing how businesses and employees perceive and manage healthcare benefits.
