Leeway provides a cloud‑based platform that lets employers offer Individual Coverage Health Reimbursement Arrangements (ICHRA) with pre‑funded health wallets, enabling high‑quality benefits at up to 50% lower cost than traditional group plans. The system automates expense approvals, compliance checks for ACA, HIPAA and ERISA, and integrates with payroll and carrier APIs, delivering a single monthly bill and reducing administrative overhead.
Funding
$500K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Employers often struggle to provide high-quality health benefits while controlling costs, navigating complex ACA, HIPAA, and ERISA compliance, and managing the administrative burden of plan enrollment and expense reimbursements.
Solution
Leeway offers a cloud‑based platform that enables companies to implement Individual Coverage Health Reimbursement Arrangements (ICHRA) with pre‑funded health wallets for employees. The system provides affordability modeling, benchmark‑based budget recommendations, and personalized plan suggestions from hundreds of carrier options. Integrated expense approval workflows verify qualified 213(d) medical expenditures and automate reimbursements at scale. Compliance automation ensures that all transactions meet ACA, HIPAA, and ERISA requirements, while payroll and carrier integrations streamline deductions and plan administration. Employers receive a single monthly bill for all health‑related spending, simplifying financial management and reducing administrative overhead.
Target Audience
Primary customers are mid‑size to large employers, HR teams, and insurance brokers seeking a cost‑effective, compliant alternative to traditional group health plans.
Features
- Pre‑funded health wallets that eliminate upfront premium costs for employees and restrict spending to qualified medical expenses
- AI‑driven affordability modeling and benchmark recommendations to help set competitive ICHRA budgets
- Personalized health plan recommendations from a broad catalog of major carriers, tailored to each employee’s needs
- Automated expense approval engine that validates 213(d) qualified expenditures and processes reimbursements instantly
- Built‑in compliance checks for ACA, HIPAA, and ERISA to ensure regulatory adherence across all transactions
- End‑to‑end integration with payroll systems and carrier APIs for seamless deductions and enrollment paperwork
- Consolidated monthly billing for all health‑related spend, providing clear financial visibility for HR teams