TLDR

Hey all, I run Every, the all-in-one HR and Finance platform. We are currently serving 2100 customers, including over 300+ YC startups.

Today we are launching Every Health Benefits. We combined our HR and Fintech stack to build a new way of funding health benefits that saves the average startup $1,200 per employee per year - while keeping the same carriers, networks, and employee experience.

Launch video: https://www.youtube.com/watch?v=T59_0OouTEU&feature=youtu.be

Problem

Healthcare is the second largest cost for many startups behind payroll, and every year costs are increasing while insurance coverage is staying the same or decreasing. Costs have climbed 24% over the last five years, according to KFF's Employer Health Benefits Survey.

I have been the CEO at a startup for 10+ years now. The first few times I renewed benefits (at my previous startup) I thought my HR vendor was ripping me off. I don’t love being taken advantage of, so I got pretty upset and immediately started looking for a new vendor. When I did, I realized prices went up everywhere, and I was stuck paying thousands of dollars more for a product that wasn’t even improving.

The math is broken, and I was paying a lot of money is for benefits I knew my team was barely using.

Most startup teams skew young and healthy. The average startup employee never comes close to hitting their deductible, but given the war for talent, startups have to offer expensive Gold and Platinum level plans.

Solution

Every Benefits flips the model. Instead of paying higher premiums upfront to cover employee healthcare costs, employers choose a lower-premium plan and pair it with an employer-funded reimbursement arrangement. Employees are reimbursed for eligible expenses as they're incurred—so you are paying for benefits as costs are incurred, instead of before.

The result? Silver plan that feels like Gold. A Gold plan that feels like Platinum. Same carriers. Same networks. A $0 effective deductible experience for employees—at a meaningfully lower cost for employers.

Savings

For a 25-person company with average characteristics, this reduces annual benefits spend from approximately $261,000 to $230,000—about $31,000 in a typical year.

• 50 employees: approximately $62,000 in typical-year savings
• 100 employees: approximately $125,000 in typical-year savings
• Average savings: up to 12% on health benefits spend

Savings figures are based on a 25-employee company on a small group, fully insured Platinum PPO. Actual savings depend on plan selection and utilization and may vary. Every Benefits is available in select states; see every.io for current availability.

Ask

If your company might be interested in this, I’d love to chat with you, please email me at sales@every.io.