Veridy Health
Veridy Health provides a consolidated billing and benefits administration platform for employer-sponsored health plans, automating premium collection, fund distribution, and penny-level reconciliation. The platform includes enterprise portals for employers and brokers, a mobile benefits app for employees, and integrated administration for FSAs, HRAs, and COBRA—all offered at no cost to the employer through its licensed TPA, Precision Group Administrators.
- Insurance Technology
- Software Only
Funding
Founders
Founder details are not available yet.
Product
Problem
Employer-sponsored health plans often rely on fragmented, manual billing and administration processes that create reconciliation errors, administrative burdens, and limited visibility for employers, brokers, and employees. Outdated systems also leave employees without convenient access to their benefits information.
Solution
Veridy Health offers a comprehensive consolidated billing and benefits administration platform designed to streamline the entire premium collection and distribution process. The platform uses rules-based group billing to automate payments from employers and employees, distributes funds to all plan participants, and reconciles every premium transaction to the penny. Employers and brokers gain access to enterprise portals that unify billing, policy, benefit, claims data, and commission information in one place. Employees use a mobile benefits app to view plan benefits, find providers, share digital ID cards, and monitor claims activity. The entire solution is provided at no cost to the employer.
Target Audience
Primary customers are employers who sponsor group health plans and the brokers who advise them, along with the employees who use the benefits administration and mobile app.
Features
- Rules-based group billing engine that automates premium collection, fund distribution, and penny-level reconciliation across all plan participants
- Enterprise portals for employers and brokers displaying employee billing details, policy data, benefits information, claims history, and commission tracking
- Mobile benefits app for employees to view plan details, search for in-network providers, share digital ID cards, and review claims status
- Integrated administration for Flexible Spending Accounts (FSA), Health Reimbursement Accounts (HRA), and Lifestyle Spending Accounts, all funded with pre-tax dollars
- COBRA administration services designed to minimize employer liability and administrative time
- Premium facilitation that allows employers to attract and retain members by offering benefits without the typical administrative burdens and costs