Flex Health offers a fully funded and fully insured Section 125 healthcare plan that allows employers to provide pre-tax health benefits, resulting in significant payroll tax savings. By integrating directly with major payroll providers, Flex Health enables companies to enhance employee compensation while ensuring compliance with IRS, ACA, and HIPAA regulations.
Funding
Funding not disclosed
Founders
Product
Problem
Many employers struggle to provide comprehensive healthcare benefits while also managing payroll tax burdens and ensuring compliance with complex regulations like IRS Section 125, ACA, and HIPAA. This can lead to difficulties in attracting and retaining talent, as well as potential financial strain due to rising healthcare costs.
Solution
Flex Health offers a fully funded and insured Section 125 healthcare plan that enables employers to provide pre-tax health benefits to W-2 employees, resulting in FICA tax savings. The program integrates directly with over 50 major payroll providers and offers a white-glove onboarding solution to streamline implementation. Employees gain access to supplementary health benefits, including 24/7 telemedicine and preventative care, which complements existing major medical coverage. Flex Health's approach aims to enhance employee compensation while ensuring adherence to IRS, ACA, and HIPAA standards, and is licensed by the Department of Insurance in 43 states. The program includes a hospital indemnity component and incentivizes preventative healthcare through a Personal Health Dashboard.
Target Audience
Flex Health primarily targets employers with 50+ W-2 employees, ranging from small businesses to multi-state enterprises, who are looking to enhance their employee benefits package while reducing payroll taxes.
Features
- Fully funded Section 125 plan with no upfront costs for employers
- Integration with over 50 payroll providers for seamless premium transactions
- Supplementary health benefits including 24/7 telemedicine, DNA + biometric screenings, and health risk assessments
- Hospital indemnity insurance with benefits payable each month
- Personal Health Dashboard mobile app for employees to access benefits and educational materials
- Auto-enrollment for eligible employees with opt-out options
- Compliance with IRS, ACA, and HIPAA regulations
- $0 co-pay preventative benefits