Benefitter: Redefining Employee Health Care Benefits
The employee health care benefit system is complicated. Add in the new health care policies, and it doesn’t get any better. Most employers want to get out of this system, and would rather chose to pay higher wages to their employees. Employees too, have a similar preference for more cash as it gives them a wider range of choices. Therefore, decoupling the marriage between employers and health insurance is fast becoming the logical choice.
San Francisco based Benefitter is working towards this goal. It is attempting to change the employer facilitated health care marketplace, by moving the system from universal group health plans to individual health plans — based on each employee’s specific requirements — and using the subsidies available under the Affordable Care Act. The service manages the transition in such a way that every employee is either equal or better off than before.
Hence, it was no surprise when Benefitter won the Public Choice Award at the DC to VC Startup Showcase during the 7th Annual Health 2.0 Fall conference.
Brian Poger, CEO of Benefitter, visited Health 2.0 recently to tell us more about his company. Following is an excerpt from the interview: