What We Do
We give your employees on-demand access to funds to pay their out-of-pocket healthcare expenses over time—at ZERO interest and ZERO fees. And for HSA users, those payments are pre-tax, creating savings of up to 30% vs. using after-tax cash.
This adds up to happier, healthier, and more productive employees.
Out-of-Pocket Costs Increasing
While wages and premium costs have increased only 26%, out-of-pocket costs for employees have increased a whopping 162% over the past 10 years.*
NOTE: Average general annual deductibles are for single-coverage and are among all covered workers. Workers in plans without a general annual deductible for in-network services are assigned a value of zero.
*SOURCE: KFF Employer Health Benefits Survey, 2018-2019; Kaiser/HRET Survey of Employer-Sponsored Health Benefits, 2009-2017. Bureaus of Labor Statistics, Consumer Price Index, U.S. City Average of Annual Inflation (April to April), 2009-2019; Bureau of Labor Statistics, Seasonally Adjusted Data from the Current Employment Statistics survey, 2009-2019 (April to April)
Overall 40% of those with employer coverage report problems paying medical bills or difficulty affording their premiums, deductibles, cost sharing or an unexpected bill in the past year.
Why medZERO Matters
The average family will spend over $3200 in out-of-pocket health costs this year, while many cannot afford to pay a surprise expense of $400 without going into debt. medZERO bridges that gap, allowing employees to fully benefit from their coverage and offering them a smarter way to pay their out-of-pocket costs.
We've introduced three new benefits this year to our 4,500 Team Members, and I can honestly say the benefit that received the most positive reaction is medZERO.
We're built around core values of sustainability and impact, medZERO gives us an advantage in recruiting, and allows us to ensure our employees are equipped with the best access to healthcare possible.
medZERO offers an excellent program to employees with strong ROI.
How It Works
Download medZERO
Get the App
Access funds 24/7 on your phone. No credit check required.
Get Care
From any doctor, dentist or pharmacy. In- or out-of-network.
Pay Instantly
And repay over time with ZERO fees and ZERO interest.
Everyone Benefits
EMPLOYERS
EMPLOYEES
PROVIDERS
medZERO pays providers in full, which means savings for providers, employees and employers through lower premiums and claims costs.
Employees pay over time and save money on out-of-pocket health care expenses with medZERO. It’s cheaper than a credit card or a payday loan. If they have an HSA, they save as much as 30% using pre-tax dollars. No HSA? No problem. There’s no credit check. No interest. No fees. In other words, no hassle.
Insights
Already Have Great Benefits? Why Your Organization Should Offer medZERO.
As an employer, you understand the importance of providing your employees with good healthcare benefits. You likely invest a significant amount of money into these benefits, including coverage for medical care, dental, vision, medications, and preventive care. Despite these efforts, your employees may still face high out-of-pocket costs for medical care, which can lead to financial stress and impact their satisfaction and retention. It’s important to be empathetic and understand that even the best healthcare benefits may not cover all costs, and employees may still need help paying for medical expenses.
medZERO or a Lifestyle Spending Account. Which is Better for your Employees?
In today’s job market, employers are always looking for new ways to attract and retain top talent. One strategy is to offer a range of benefits that can help employees manage their finances and improve their overall quality of life. Two popular benefits in this area are medZERO and a lifestyle spending account (LSA). In this article, we’ll explore the advantages of each benefit and explain why medZERO may be a better choice for employers looking to support their employees’ healthcare needs.
News
medZERO Unveils Transformative AI Strategy to Revolutionize the Intersection of Healthcare and Financial Wellness
PORTLAND, Ore.–(BUSINESS WIRE)–medZERO, a leading provider of healthcare financial wellness solutions, is excited to announce its transformative AI-based strategy. This strategy will empower employees throughout their entire healthcare journey with paramount focus on financial wellness. By integrating the complex financial aspects of healthcare decision-making with AI, medZERO is revolutionizing the way individuals engage with their care. This ensures both their physical well-being and financial security.
medZERO Responds to CFPB Report, White House on Medical Debt, Highlights Need for Employers to Act to Help Employees with Cost Hurdles in Accessing Care
PORTLAND, Ore.–(BUSINESS WIRE)–medZERO, a leading healthcare financial wellness company and provider of on-demand, interest-free funds to employees to pay for out-of-pocket health costs, has responded to the report issued today by the Consumer Financial Protection Bureau (CFPB) on the risks associated with medical credit cards and financing plans.
FAQs
No. ZERO fees.
ZERO. That’s 0.0%
No. No credit checks.
No. Our technology and medZERO Spending Allowance programs enhance any HSA. Because your loan payments to medZERO are considered qualified medical reimbursements, when made via your HSA, you're paying with pre-tax money.
And, if you have an HSA balance, and your provider offers investment options, you can leave that money working and use a medZERO loan to cover unplanned medical expenses—further enhancing the value of your HSA through investment gains and added tax savings.
No. medZERO enhances an HSA, but an HSA isn't required. Employers without HSA programs (those using PPO or HMO plans, for example) may elect to make medZERO available to all employees.
HSA programs offer a triple tax advantage. First, you can contribute as much as $7,000 per year (for married couples) pre-tax, for use toward future medical costs. That results in a 7.65% federal payroll tax savings during each pay period for BOTH the employee and the employer; this translates to a reduced taxable gross income at year end (that's a >20% effective savings, depending on tax rate).
Second, you can invest your HSA savings intro interest bearing investments like stocks or mutual funds—and earnings in your HSA are 100% tax free.
Finally, when you use your HSA funds toward qualified medical expenses (see question below), those distributions are also 100% tax free.
Co-pays, cost sharing (%) payments and deductibles for visits to your doctor or emergency room are considered Qualified Medical Expenses. And, you can also pay for other products and services, including eye exams, glasses, corrective eye surgery, dental procedures, prescription drugs and a host of other expenses.
Who We Are
Investors
Village Global is an early-stage venture capital network of the world’s most successful entrepreneurs that includes Jeff Bezos, Mark Zuckerberg, Bill Gates, Reid Hoffman, Diane Greene, Sara Blakely, Abby Johnson, and many others. Village is connected capital. Village is capital, connected.
villageglobal.vc
Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm investing in early-stage technology startups. We have helped more than 300 companies successfully launch and scale. In doing so, we have created more than 25,000 jobs worldwide.
trueventures.com
Help your employees be happier and more productive. It’s simple, saving them—and your company—money.
We’ll have your medZERO benefit up and running in as little as two weeks. And we can roll out any time.
Let’s schedule a call to learn more about your company and current benefits program.
Let’s Schedule a Call
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