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
Mercer Study Reports 68% of Employees Face Challenges Accessing Healthcare Due to Cost
medZERO Insights. Mercer published an update to its “Inside Employees’ Minds” study which focuses on understanding the root causes of high turnover and how employees’ needs and wants have shifted over the past year
How Much Deferred Healthcare is Costing the U.S. Economy
People delay getting the care that they need for a wide variety of reasons—but whatever their reasoning, rising rates of deferred care is both a symptom and a cause of a struggling system.
News
medZERO is Excited to Welcome Six New Advisory Board Members
PORTLAND, Ore. — medZERO, a fintech company that enables on-demand, automatic, interest-free payment for out-of-pocket healthcare expenses, has added six health and benefits business leaders to their advisory board. These professionals will consult on company and product strategy and will assist in making valuable connections to expand access to medZERO. New advisory board members include: Michael Cochran – Cochran has decades of experience leading international employee benefits and wellness, and has designed effective strategies that have improved employee health and productivity and managed risk and expense. He is a former head of benefits at Microsoft, Expedia, and the Bill & Melinda Gates Foundation, and former principal at Mercer. Majd El-Azma – El-Azma is a finance, sales, and health plan leader who served as president and CEO of LifeWise Health Plan of Oregon. He currently advises leaders in a myriad of industries. Kathy Harris – Harris is accomplished in investment banking, M&A, corporate development, and private equity, including serving as EVP of Corporate Development for Sharecare, a digital health company that helps people manage all their health in one place. Brad Lawson – Lawson has extensive experience leading business development and strategy for many national health and information companies, including WebMD, StayWell, and Interactive Health. Currently, Lawson is CEO at Fern Health, a digital pain management solution. Tre’ McCalister – A wellness, work-life, and health strategist, McCalister is former global benefits leader at Dell and a former consultant and Central Market practice leader at Mercer. Ginny Proestakes – a health benefits expert,
Savage Adds medZERO Benefit to Make Healthcare More Affordable for its Team Members
PORTLAND, Ore.– Savage is one of the most recent companies to offer medZERO’s innovative benefit to its more than 4,000 Team Members.
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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