Benefitbay is an ICHRA solution that puts the power of personalized benefits in the agents hands. Agents, employers and employees all have their own access giving visibility to all users.


What is Benefitbay?

At Benefitbay, we are the platform that partners choose to deliver personalized benefits. We empower individuals to make their own benefit decisions. We do this through our industry leading end-to-end ICHRA solution that fits into the current benefits ecosystem. From quoting to selling ICHRA, through to employer onboarding, employee enrollment, and ongoing administration, Benefitbay is the single solution that partners choose to fill the complete ICHRA journey in one system.

How is Benefitbay different?

Benefitbay is the only ICHRA solution that is agent enabled to help quote and sell ICHRA. Having a quoting tool in-house helps agents set themselves apart instead of waiting days to weeks for RFPs. Speed to quote wins business, and when agents are empowered with Benefitbay, they are the first to quote. Agents have full visibility into the entire client journey, from quoting and modeling to tracking enrollments, agents are hands-on with their groups. Employee shopping is completed on the Benefitbay system and all premium payments are made to the Benefitbay ARC accounts giving full transparency to all users involved. Benefitbay based stands alone by providing the only on-platform banking solution to all ICHRA users, maintaining our core value of transparency with every benefit dollar spent. We do all of this while remaining the only ICHRA vendor that is SOC 2 Type 2, HITRUST compliant across the entire lifecycle, ensuring client data privacy. We are different by providing agents a tool where they are involved in every aspect of ICHRA, continuing to provide value to their clients.

Who is a good fit for Benefitbay?

We have found that due to our transparency with on-platform banking, with fully transparent premium payment transactions, with compliance and security as bedrocks of the system, we have been able to move up market to employers in the 500 to 5,000 employee space quickly. These employers require the tools and transparency offered by Benefitbay and can gain the most value from delivering personalized benefits to their scaled workforce. The types of brokers that are a good fit for Benefitbay are those who want to lead and win business with ICHRA, those who see where the future of the employee benefits landscape is shaping and want to continue to provide value to their clients.

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Duration: 02:52

Posted: Tuesday, February 20, 2024

Video tags: Under 50 EEs, 51 - 100 EEs, 101 - 250 EEs, 251 - 500 EEs, 501 - 1000 EEs, 1001 - 2500 EEs, 2501 - 5000 EEs, Over 5000 EEs