Venteur, the digital health startup helping companies provide personalized health insurance options to their employees, is partnering with the TRUE Network of Advisors, a group of privately-owned employee benefit agencies across the country that come together to collaborate and have access to tools and resources to compete against the national agencies.
“Becoming a strategic partner with the TRUE Network will give employers nationwide the immediate access and guidance to implement our platform through a benefits advisor they already trust,” said Stacy Edgar, CEO and co-founder of Venteur. “We are honored to join their network and look forward to supporting the switch to personalized health benefits for all.”
The partnership will enable Venteur to provide access to tailored health benefit options to TRUE Network members to use as they guide employers through the process of selecting the best options for employee benefits. Not only does this step further Venteur’s goal of building the health insurance system of the future, it is directly in line with the company’s vision of solving the US’s health insurance affordability crisis. Venteur has helped businesses save millions on their health insurance spend while upgrading their benefits experience.
Venteur utilizes Individual Coverage Health Reimbursement Arrangement (ICHRA) plans to give employees within an organization complete control over their own health care. Employers provide pre-tax dollars to each employee to buy health insurance, while employees are equipped with a digital wallet that can be used to purchase health insurance coverage through Venteur’s platform. Powered by proprietary AI decision support tools, which leverage 30 years of medical claims data to make personalized suggestions on the best health plans for each employee, the marketplace is the gateway to making personalized health insurance a reality.
“With their personalized health insurance model in the ICHRA space, I’m excited for Venteur to join TRUE Network as a strategic partner,” said Stephen McNeil, EVP of Partnerships & Programs at TRUE Network of Advisors. “I’ve observed a growing trend of employers evaluating and adopting ICHRA as a solution, and I’m thrilled to have equipped our member agencies with such a great resource.”
Venteur has been adept at addressing the needs of many companies regardless of size, offering a concierge-style ICHRA experience that has been popular among both larger employers and small businesses. Based on data from the latest round of open enrollment, Venteur estimates that the ICHRA model will save thousands of employers – representing a total workforce of 20 million employees — at least $250 per employee per month while also allowing them to provide their workforce with more robust health insurance coverage.
“It’s very motivating to start the year off with such an impactful partnership, especially as healthcare and health insurance costs continue to rise,” added Edgar. “Venteur stands ready to play our part in countering this concern by offering employers affordable options to provide great coverage for their employees.”
