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Thatch and Function Health Join Forces to Offer Personalized Benefits

In a significant development in employee health benefits, Thatch, a leader in providing modern and flexible health benefits, has unveiled the Thatch Marketplace. This new platform is a curated ecosystem enabling millions of employees to access health and wellness services using their tax-free benefits balance. With a focus on personalization and employee empowerment, this initiative promises to reshape the way employees engage with their health benefits.

A New Approach to Employee Health

The Thatch Marketplace stands as a solution to the old models that often left employees with limited choices for health coverage. By collaborating with innovators like Function Health, Thatch allows for a more individualized experience. Function Health offers access to more than 160 lab tests, a drastic increase from the mere 19 provided by traditional annual check-ups.

As described by Chris Ellis, CEO of Thatch, "The Thatch Marketplace places employees in control of their health benefits, allowing them to make choices that align with their personal health needs and lifestyle." This paradigm shift aims not only to improve the efficiency of healthcare spending but also to increase the relevance of care available to employees.

Empowering Employees Through Choice

At the heart of the Thatch Marketplace is the ability for employees to utilize a defined monthly health allowance. This gives them the freedom to select insurance plans that best meet their personal needs, but also to invest in a variety of wellness services and products. From preventive diagnostics provided by Function Health to mental health resources and telehealth services for functional medicine, the options are designed to cater to a range of health and wellness priorities.

Key Offerings in the Marketplace:

• - Preventive Diagnostics: Including services from Function Health and Prenuvo.
• - Mental Health Support: Access to therapy and counseling services.
• - Telehealth Services: Offered by companies like Hims & Hers and Sesame.
• - Wellness Products: Featuring partnerships with fitness brands like Oura and Peloton.

This marketplace empowers employees to use their benefits on what is genuinely important to them, whether that’s insurance, wellness products, or mental health services, thereby promoting a more proactive approach to healthcare.

Addressing the Challenges of Traditional Benefits

The traditional employer-sponsored benefits model often leaves much to be desired. With rising costs and an array of disparate offerings, employees frequently feel overwhelmed and underserved. The Thatch Marketplace seeks to alleviate these pain points by:

• - Offering More Control: Employees can choose what benefits best suit their health needs.
• - Maximizing Value: Individuals can direct their funds towards benefits they truly value.
• - Reducing the Burden on HR: Companies can set a clear monthly budget, while Thatch manages the intricacies of the benefits distribution.

As Chris Ellis notes, “With 165 million Americans relying on employer-sponsored health insurance, it’s crucial that they have a voice in their healthcare coverage.” The Thatch Marketplace’s launch represents a significant step towards empowering employees to take charge of their health, ultimately leading to better health outcomes and satisfaction.

Looking Ahead

The Thatch Marketplace is now accessible to all participating employers, marking a new era in employer-sponsored care. With the backing of companies like Function Health, Thatch is changing how employees perceive and utilize their health benefits.

For more information about the Thatch Marketplace, visit Thatch's website.

About Thatch

Thatch is pioneering a new model in healthcare by transferring the power of health benefits to employees. With a focus on flexibility and individual choice, Thatch redefines what health coverage means for today’s workforce.

About Function Health

Function Health distinguishes itself with a wide-ranging approach to diagnostics, offering individuals insights into their health that go far beyond standard medical check-ups. Through this partnership, they aim to enhance health literacy and personal empowerment in health management.