StretchDollar Raises $6 Million For Platform To Simplify Health Benefits For Small Businesses

StretchDollar raised $6 million to simplify how small business arrange for health benefits. StretchDollar leverages the IRS rules on Individual Coverage Health Reimbursement Arrangements (ICHRAs), which allow employers to offer employees pre-tax funding to buy individual insurance plans. Using the StretchDollar platform, small businesses can set up custom health benefits in 10 minutes, and can offer employees help making plan selections.

Through the platform, small businesses submit basic information and pick a monthly pre-tax allowance. The business can then invite employees to join the platform. Pre-tax dollars are sent to employees monthly from the business’ bank account . . .