Health Benefits Startup Thatch Reaches $1 Billion Valuation
The company's individual-plan marketplace model comes as employers grapple with rising healthcare costs, according to TechCrunch.
Thatch, a health benefits platform, has reached a valuation of $1 billion, TechCrunch reported.
According to the report, the company's growth comes amid rising healthcare costs, which have pushed some employers to seek alternatives to traditional group insurance plans.
Thatch operates an individual plan marketplace built around a model known as an Individual Coverage Health Reimbursement Arrangement, or ICHRA, TechCrunch reported. Under this approach, employers fund employees' individual insurance plans rather than enrolling their entire workforce in a single company-wide plan.
The ICHRA structure is intended to help employers manage healthcare costs while giving employees more choice in selecting insurance coverage that fits their individual needs, according to the report.
TechCrunch did not detail the specifics of the funding or valuation event that led to the $1 billion figure in the excerpt reviewed.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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