Details

Last Funding Type

Series A

Last Funding Money Raised

$4.26M

Industries

Health Care,Medical,SaaS,Software

Founded date

Jan 1, 2011

Number Of Employee

11 - 50

Operating Status

Active

BeneStream provides medical aid solutions that help employers make choices in complying with the Affordable Care Act. It is a software-as-a-service company providing a low-cost solution to employers facing tough choices under the Affordable Care Act (ACA). New mandates will require large employers to offer costly employer-sponsored insurance (ESI) to their entire full-time workforce – or face fines.

BeneStream provides a better choice for employers with a low-income workforce: Outsourced enrollment in Medicaid. This solution will save employers money while complying with ACA and provides them free, comprehensive, and family coverage.

In 2014, tens of thousands of employers must offer health insurance to tens of millions of employees for the first time. As a result, employers with more than 50 employees are considering financially tough choices such as offering ACA-compliant insurance to their low-income workforce, offering no insurance – and risk fines, and cut employee hours to part-time.

Employers subject to ACA mandates are asking their benefits advisors for a better choice. BeneStream’s technology provides help to eligible low-income employees enroll in the federal Medicaid program. This is a win-win solution because: It saves employers the cost of insurance for their low-income workforce while complying with the ACA; It eliminates the risks of fines for the employer and the employee; and it provides free, comprehensive coverage for the employee and their family, without deductibles or cost-sharing.