PORTLAND, Ore.– Savage is one of the most recent companies to offer medZERO’s innovative benefit to its more than 4,000 Team Members.
medZERO is an award-winning, employer-sponsored financial wellness platform that gives employees a smarter way to pay for healthcare via on-demand access to funds to pay their out-of-pocket healthcare expenses with repayment automatically deducted from their payroll over time with zero interest and zero fees.
“Ensuring our Team Members have robust benefits and access to quality and affordable care is a top priority for Savage,” said Laurel Timmins, Vice President of Benefits for Savage. “medZERO offers a meaningful and timely solution by giving our Team Members an easy way to pay for out-of-pocket medical expenses.”
Savage, a privately held global provider of industry infrastructure and supply chain services, has more than 200 locations across the U.S.
Savage rolled medZERO out to their Team Members in August to enthusiasm. The easy-to-initiate, zero-fee loans can be used to pay off qualified medical expenses including existing medical debt, dentistry, orthodontia and prescription medication. When repayment is routed through a Health Savings Account, medZERO users can save up to an additional 30 percent.
“We offer an easy way to pay for qualified medical expenses. Our goal is to make healthcare more accessible and affordable,” said medZERO CEO and Co-Founder Craig Froude. “We worked with Savage to design a program that provides a more robust benefit to their Team Members, while providing substantial savings for Savage.”
According to recent studies cited in the Society of Human Resource Management (SHRM), employers are increasing looking to offer expanded benefits and financial tools to help retain employees and assist them in reaching their financial goals. Revisiting and increasing contributions is also advised, according to the studies cited by SHRM.
Launching the app in January of this year, medZERO has won multiple awards and secured $8.2 million in seed funding, from Silicon Valley powerhouses True Ventures, Village Global and other angel investors.
Companies across varied industry sectors including technology, hospitality, financial services and banking have deployed medZERO to provide their employees with the industry leading benefit.
medZERO is a Portland, Ore., healthcare-focused fintech company (www.medzero.com) designed to make healthcare accessible, affordable and equitable. The employer sponsored platform provides employees instant access to funds to pay their out-of-pocket healthcare costs with no interest and no fees. Repayment is made through automatic payroll deduction and for users with Health Savings Accounts medZERO payments are pre-tax allowing users to save up to 30% on all qualified medical expenses. Learn more at medzero.com.
In business for 76 years, Savage is a privately held, global provider of industry infrastructure and supply chain services, with approximately 4,500 Team Members in over 200 locations. Savage Customers and Partners count on them to safely and sustainably move and manage what is essential to their business. Savage enables its Customers and Partners to Feed the World, Power Our Lives, and Sustain the Planet. For more information, visit www.savageservices.com/savage-companies.