Health benefits platform Thatch reaches $1B valuation as healthcare costs surge

Automated excerpt

Thatch, a platform that lowers healthcare costs for employers while expanding plan choices for workers, has raised $108 million at a $1 billion valuation from existing investors: The General Partnership, Index Ventures, General Catalyst, and Andreessen Horowitz. Thatch helps employers keep healthcare costs manageable by offering an individual plan marketplace through what’s known as an ICHRA (Individual Coverage Health Reimbursement Arrangement) — a model created by federal regulation in 2020 that lets companies fund employees’ own individual insurance plans instead of enrolling everyone in one company-wide plan.

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