Beanstalk Benefits - 3x3x3 Challenge with Matthew Sydney
We built a way for employees to choose their own benefits from 50+ services because HR is burning out managing point solutions people don’t use enough. Employers sign just one contract.
Transcript:
What is Beanstalk Benefits?
We built Beanstalk Benefits to change the way employers provide lifestyle, health, and wellbeing benefits. Instead of choosing on their behalf, employers let employees choose for themselves. We've vetted hundreds of resources for mind, body, family, lifestyle, money, and put them all in one great platform. We have over 50 products and services and continue to add. Employees choose which ones work best for them as a subscription or a one-time purchase, and they use employer-sponsored accounts like health savings accounts, flexible spending accounts, or lifestyle spending accounts to pay for them. We also untie benefits decision making from open enrollment around these lifestyle benefits. Employees can add or drop services anytime of the year as their needs change. One of the biggest values we offer is employers sign just one contract to provide access to all of these products and services, with no per employee per months, or PEPMs. We manage the lifestyle spending account and vendor relations so companies don't have to.
How is Beanstalk Benefits different?
Yeah, we think letting employees choose will have a big impact on benefits use and return on investment. We're all more likely to use something we picked ourselves, and that's a big change for the benefits world. Digital health and wellness solutions are increasingly specialized. Over 14,000 point solutions exist for issues ranging from fertility testing and pet insurance to sobriety support and raising healthy toddlers. And that's a wonderful thing. We're constantly talking about point solution fatigue because there really hasn't been a way to get those many unique resources to many unique people who can benefit from them most. Employers have been missing that infrastructure to let employees choose for themselves. So Beanstalk built it.
Who is a good fit for Beanstalk Benefits?
Yeah, we think everyone should have access to great benefits. Since Beanstalk manages all the lifestyle vendor relations and vets all the services people can choose from, companies don't have to manage a lot of contracts or partners. That means any employer can be an employer of choice when it comes to lifestyle and wellbeing benefits. So we're an especially excellent option for companies that don't have a lot of benefit or HR resources. We're also great for companies that are offering individual coverage health reimbursement arrangements, or ICHRAs, as well as those that provide benefits to part-timers or freelance employees. And, for larger companies, we can customize the platform to include existing benefits and other offerings to create a single resource for all the benefits a company offers.
Transcript:
What is Beanstalk Benefits?
We built Beanstalk Benefits to change the way employers provide lifestyle, health, and wellbeing benefits. Instead of choosing on their behalf, employers let employees choose for themselves. We've vetted hundreds of resources for mind, body, family, lifestyle, money, and put them all in one great platform. We have over 50 products and services and continue to add. Employees choose which ones work best for them as a subscription or a one-time purchase, and they use employer-sponsored accounts like health savings accounts, flexible spending accounts, or lifestyle spending accounts to pay for them. We also untie benefits decision making from open enrollment around these lifestyle benefits. Employees can add or drop services anytime of the year as their needs change. One of the biggest values we offer is employers sign just one contract to provide access to all of these products and services, with no per employee per months, or PEPMs. We manage the lifestyle spending account and vendor relations so companies don't have to.
How is Beanstalk Benefits different?
Yeah, we think letting employees choose will have a big impact on benefits use and return on investment. We're all more likely to use something we picked ourselves, and that's a big change for the benefits world. Digital health and wellness solutions are increasingly specialized. Over 14,000 point solutions exist for issues ranging from fertility testing and pet insurance to sobriety support and raising healthy toddlers. And that's a wonderful thing. We're constantly talking about point solution fatigue because there really hasn't been a way to get those many unique resources to many unique people who can benefit from them most. Employers have been missing that infrastructure to let employees choose for themselves. So Beanstalk built it.
Who is a good fit for Beanstalk Benefits?
Yeah, we think everyone should have access to great benefits. Since Beanstalk manages all the lifestyle vendor relations and vets all the services people can choose from, companies don't have to manage a lot of contracts or partners. That means any employer can be an employer of choice when it comes to lifestyle and wellbeing benefits. So we're an especially excellent option for companies that don't have a lot of benefit or HR resources. We're also great for companies that are offering individual coverage health reimbursement arrangements, or ICHRAs, as well as those that provide benefits to part-timers or freelance employees. And, for larger companies, we can customize the platform to include existing benefits and other offerings to create a single resource for all the benefits a company offers.