Gravie, a health benefits provider specialized in serving small and midsize employers, recently introduced Edge, a unique hybrid benefits offering that not only allows businesses to reduce ever increasing healthcare spending but also gives workers access to many coverage choices based on their preference. This package contains an Individual Coverage Health Reimbursement Arrangement (ICHRA) together with a level-funded insurance through a single integrated benefits platform, so that the company can use various plans for various parts of the company workforce instead of adopting the same plan to whole of the employees. Under Edge, ICHRA gives employers greater control over spending through defined contributions while enabling employees to choose from the individual insurance market, supported by Gravie’s guided shopping experience and carrier network. Level-funded plans, meanwhile, offer cost transparency, potential savings, predictable monthly payments, and protection against high claims.
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Gravie manages both approaches through one relationship, account team, and administrative experience, reducing the complexity associated with working with multiple benefits providers. For employers that qualify, the company says Edge can deliver premium savings of 15% or more while maintaining access to quality coverage. “We heard from our clients and the market that the one-size-fits-all approach doesn’t work. They need a solution that meets the diverse needs of today’s evolving workforce,” said Steve Wolin, CEO of Gravie. “Edge is designed to fill this gap by allowing employers to match group coverage where it works and use the individual market where it creates a better fit, while managing both as one benefits strategy. In essence, Edge lets an employer meet their whole workforce where they are.” The launch gives HR teams another strategy for balancing benefits affordability, employee choice, and workforce diversity as healthcare expenses continue to rise.
