Savvy
Savvy is a fintech company based in San Francisco, specializing in health reimbursement arrangements (HRAs) for businesses of all sizes, helping them manage employee benefits efficiently and cost-effectively.
Overview of Savvy
Savvy is a fintech company based in San Francisco, CA, with a team of 12 employees. Specializing in the insurance sub-industry, the company participates in the Y-Combinator W20 batch. Savvy provides a platform for administering Health Reimbursement Arrangements (HRAs) designed for businesses of all sizes. With Savvy’s services, companies can quickly and efficiently reimburse employees for health insurance tax-free, offering affordable employee benefits without needing an HR department.
Health Reimbursement Arrangements (HRAs) Offered by Savvy
Savvy offers various Health Reimbursement Arrangements (HRAs) including Qualified Small Employer HRA (QSEHRA), Individual Coverage HRA (ICHRA), and Excepted Benefit HRA (EBHRA). These HRAs are designed to help businesses, especially small ones, provide affordable health benefits to their employees. These arrangements allow employees to be reimbursed tax-free for health insurance and other medical expenses, providing a versatile and customizable benefits solution.
Savvy's Platform for HRA Administration
Savvy provides a comprehensive platform for the administration of HRAs. This platform is designed to be user-friendly, allowing employers to manage employee benefits with minimal time investment—usually less than an hour per month. The platform also offers in-house enrollment support, a unique feature among HRA administrators. This platform makes it easy for businesses to start offering employee benefits in as little as 10 minutes.
Client Savings and Efficiency with Savvy
Clients of Savvy can save between 20-35% on employee benefits on average. The platform is tailored to support employers, especially those without a dedicated HR department, in managing employee benefits efficiently. Savvy allows a streamlined process where employers can spend an hour or less per month on HRA administration. The flexibility offered by the platform ensures that employees have a range of plan choices and receive unparalleled support.
Recognition and Trust in Savvy
Savvy is trusted by over 5,000 leading organizations, underscoring its reliability and efficiency in providing HRA administration services. The company has been featured in prominent publications like The Dallas Morning News, The New York Times, The Wall Street Journal, Health 2.0, and Forbes. These features highlight Savvy’s role in the fintech-insurance space and its impact on both small businesses and their employees.
