Lane Health - 3x3x3 Challenge with Arturo Serrano
Lane Health offers the Healthcare Spending Card (HSC), a unique lending solution to address the problem of healthcare affordability and accessibility, all with no annual fee or credit checks.
Transcript:
What is Lane Health?
Lane Health is a healthcare and financial wellness company that's on a mission to help people take back control over their healthcare spending and live healthier lives physically and financially. We do so by providing access to a tangible solution that employees could use at any time to help pay for their healthcare. And overall, we want to make sure that people are more confident and optimistic about managing their healthcare.
How is Lane Health different?
The number one reason that people delay or forgo healthcare is because of out-of-pocket costs. The healthcare spending card helps solve that critical issue. Here's how it works. We provide access to funds upfront for anybody that requests a card. Everyone is guaranteed a minimum of $500 once they verify their income upwards up to $10,000. Their credit limit is replenished as they make repayments, and we don't do any credit checks. And because of that, the way that we decide individual lines of credit is based off employee-specific salary and tenure with the organization. Additionally, we do allow for 12-month repayments, and we do have 0% financing on certain expenses. For example, all hospital expenses are 0% financing for 12 months. For any other healthcare, medical, vision, prescription, dental, we do provide 0% financing for four months. Again, no credit checks, no annual fees, and everything that we do is in-house. No credit reporting agencies and no collection agencies.
Who is a good fit for Lane Health?
Anybody that needs access to pay for their healthcare, right? So for employees specifically, anyone who may not be able to gain access for funds due to credit checks or because they would have to put it on a high-interest credit card. Additionally, if they simply need a little bit of cash flow to be able to pay for their healthcare or even anyone on a high-deductible health plan, right? So we do allow people to link their HSA accounts to repay with pre-taxed dollars. And then on the employer side, anybody that's looking to increase employee engagement, just overall, create a better benefits plan for their employees. Specifically, those who may not have the ability to have file integrations or bring in additional organizations that may charge them for the solution.
Transcript:
What is Lane Health?
Lane Health is a healthcare and financial wellness company that's on a mission to help people take back control over their healthcare spending and live healthier lives physically and financially. We do so by providing access to a tangible solution that employees could use at any time to help pay for their healthcare. And overall, we want to make sure that people are more confident and optimistic about managing their healthcare.
How is Lane Health different?
The number one reason that people delay or forgo healthcare is because of out-of-pocket costs. The healthcare spending card helps solve that critical issue. Here's how it works. We provide access to funds upfront for anybody that requests a card. Everyone is guaranteed a minimum of $500 once they verify their income upwards up to $10,000. Their credit limit is replenished as they make repayments, and we don't do any credit checks. And because of that, the way that we decide individual lines of credit is based off employee-specific salary and tenure with the organization. Additionally, we do allow for 12-month repayments, and we do have 0% financing on certain expenses. For example, all hospital expenses are 0% financing for 12 months. For any other healthcare, medical, vision, prescription, dental, we do provide 0% financing for four months. Again, no credit checks, no annual fees, and everything that we do is in-house. No credit reporting agencies and no collection agencies.
Who is a good fit for Lane Health?
Anybody that needs access to pay for their healthcare, right? So for employees specifically, anyone who may not be able to gain access for funds due to credit checks or because they would have to put it on a high-interest credit card. Additionally, if they simply need a little bit of cash flow to be able to pay for their healthcare or even anyone on a high-deductible health plan, right? So we do allow people to link their HSA accounts to repay with pre-taxed dollars. And then on the employer side, anybody that's looking to increase employee engagement, just overall, create a better benefits plan for their employees. Specifically, those who may not have the ability to have file integrations or bring in additional organizations that may charge them for the solution.