@thatch_ai
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Thatch is an all-in-one platform that makes it easy to offer your employees the most personalized healthcare experience.
San Francisco
Joined December 2021
- Tweets39
- Following45
- Followers458
- Likes83
Thatch retweeted
The five-year-old startup raised $108 million from The General Partnership, Index Ventures, General Catalyst, and Andreessen Horowitz.
spr.ly/6018BGr6Iw
Thatch CEO @chrisellisdc says healthcare has the wrong incentives because your insurer doesn’t have to win your business, your employer already chose it for you:
"The problem is there's no penalty for denying a claim. If you're working at a company that offers a health plan and your claim gets denied, who are you petitioning to? You don't get to change the insurance. It's decided for you by your employer."
"In a world where consumers choose and you have an experience, whether it's customer service, a claim denial, or another issue, if you have an experience that's really bad, you could just switch. You're no longer locked into a single carrier."
"It's that ability to switch and an ability for the consumer to express their preference in an open market that is what ultimately changes the shape of supply in that market."
"Our long-term vision is to reorder the incentives around making consumers happy. When people make consumers happy, carriers, pharma firms, everybody will make more money, and it will be a win-win for everyone."
@thatch_ai
Healthcare costs keep rising and employees want access to treatments like GLP-1s, which is exactly why Thatch is experiencing 7x YoY growth: the shift to consumer-directed health has reached its inflection point.
The five-year-old startup raised $108 million from The General Partnership, Index Ventures, General Catalyst, and Andreessen Horowitz.
spr.ly/6018BGr6Iw
Thatch retweeted
"There is no Apple of healthcare. There is no Airbnb of healthcare."
We believe every major consumer market has been rebuilt around the individual except healthcare. Congratulations to @thatch_ai on their $108M Series C to create a healthcare system people love. Thatch gives employees a health budget from their employer to buy whatever plan fits their life.
We’re proud to triple down on our partnership with @chrisellisdc, Adam Stevenson, and the team.
Watch Alex Tran in conversation with Chris and Adam.
Chapters
00:00 — How a WWII Wage Freeze Built America's Healthcare System
05:35 — Losing Parents to Cancer and Starting Thatch
09:07 — Inside the Thatch Product
14:38 — Why the Hardest Healthcare Problems Are Fintech Problems
20:49 — AI That Calls Your Doctor to Confirm It's In Network
25:55 — Unbundling Healthcare From Employment
31:32 — Lessons From Switzerland and Singapore
Thatch retweeted
Today, we're announcing @thatch_ai raised a $108M Series C at a $1B valuation from @thegp, @IndexVentures, @generalcatalyst, @a16z.
The idea we're betting on: healthcare serves whoever controls the dollar. For 80 years that's been the employer. We think it should be you.
Employers typically choose one health plan for everyone. We think there's a better model: give people a health budget and let them choose the insurance and care that fits their life. That is the idea behind Thatch.
ARR has grown nearly 7x in the last twelve months, and more than 5,000 employers now use Thatch. None of this happens without our team, or without the employers who believe that their people know what their families need better than they ever could.
We're building a healthcare system people love by changing how we fund it.
We had some real fun recording this with our friends at @a16zBioHealth
Give it a listen in the link below! 👇
How can employers offer more personalized and flexible health benefits?
Chris Ellis and Adam Stevenson, cofounders of @thatch_ai, recently joined a16z’s @julesyoo and @JayRughani to discuss how they help employers offer tax-free dollars to employees through ICHRA (Individual Coverage Health Reimbursement Arrangement) allowing employees to choose their own health insurance instead of being restricted to a traditional group plan.
Listen on Raising Health: link.chtbl.com/raisinghealth…
Thatch retweeted
💡Insights from Local Builders and Innovators
@TaylorCapito of @GenRait_Inc joined Austin Tech Connect with @thomsinger, discussing tech impacting humanity, innovation, Star Trek, and even Flubber.
Listen here: podcasts.apple.com/us/podcas…
@thatch_ai co-founders Chris Ellis and Adam Stevenson discussed consumer-driven health insurance on @a16zBioHealth's Raising Health podcast. The long term potential is "more flexible, localized plans, with individuals choosing the add-ons that work best for them at that moment in their lives.”
Listen here: a16z.com/podcast/the-freedom…
Thrilled to announce our $38M Series A led by @generalcatalyst and @IndexVentures , with participation from @a16z , @AvidVc, and @thegp!
We're building a brighter future for the U.S. healthcare system, where employers can provide better health benefits for less money, and employees can keep the same great benefits from job to job.
Read the full announcement here: thatch.ai/blog/thatch-series…
Looking to offer great health benefits at a lower cost? let's chat! thatch.ai/demo
Hitting 50 full-time employees is a significant milestone for any business owner or #startup founder. But did you know that this also brings new responsibilities under the Affordable Care Act (ACA)?
𝗦𝗲𝗲𝗸 𝗘𝘅𝗽𝗲𝗿𝘁 𝗛𝗲𝗹𝗽: Partner with benefits providers who specialize in these transitions. Experienced providers can guide you through the process, ensuring you meet all compliance requirements without unnecessary stress.
At Thatch, we work closely with our customers as their companies grow. If you're close to reaching the 50 full-time employee mark and need support to re-think your #healthbenefits strategy, let's chat! thatch.ai/demo
Did you know? In 2021, 43.1 million people juggled multiple #healthinsurance plans.
Depending on their circumstances, having two health insurance policies can help your employee save money or be an unnecessary expense.
To better understand why your employees may be choosing or not choosing to enroll in dual coverage, let’s take a look at the pros and cons of having two health insurance plans.
thatch.ai/blog/pros-and-cons…
