This platform simplifies employee benefits administration by offering a personalized healthcare experience. It reduces administrative burdens for employers while enabling employees to tailor their healthcare experience to their individual needs.
Funding
$200K 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
Traditional group health insurance plans often present a one-size-fits-all solution that fails to address the diverse healthcare needs and preferences of individual employees. This can lead to dissatisfaction, underutilization of benefits, and a perceived lack of value, particularly for employees with specific healthcare requirements. Furthermore, managing these plans can be administratively complex and costly for employers.
Solution
Savii offers a platform that simplifies employee benefits administration through Individual Coverage Health Reimbursement Arrangements (ICHRAs). Savii's ICHRA solution allows employers to define a fixed healthcare budget for their employees, while empowering employees to select individual health insurance plans and healthcare services that best fit their unique needs and circumstances. The platform streamlines the complexities of ICHRA implementation, automates compliance, and reduces the administrative burden on HR teams. By offering personalized healthcare choices, Savii aims to increase employee satisfaction, improve retention, and provide cost-effective and compliant benefits management.
Target Audience
Savii primarily targets small to medium-sized businesses (SMBs) and startups seeking to offer flexible and personalized healthcare benefits to their employees while controlling costs and minimizing administrative overhead.
Features
- Budget allocation tools for employers to define fixed healthcare contributions.
- Employee access to a range of individual health insurance plans and healthcare services.
- Automated reimbursement processing for eligible healthcare expenses.
- Compliance management to adhere to IRS and ACA regulations.
- Streamlined open enrollment process for employees to select and enroll in plans.
- Integration with existing HR systems for seamless data management.
- Employee self-service portal for managing healthcare benefits and reimbursements.
- Reporting and analytics dashboards for employers to track benefit utilization and costs.