California-based Fair Square Medicare provides financial assistance to seniors when navigating medicare health plans. The company identifies and recommends medicare plans using an algorithm that incorporates search criteria such as budget and preferences. The platform also provides educational content and includes features for seniors to take advantage of the available benefits they have based on their current health plan.
The company does not charge seniors for the service it provides. Instead, Fair Square Medicare operates on a B2B2C model where it earns revenue from health plan providers whenever seniors sign up with their plans. The company states it is not commission driven, and that it will recommend the best plan for an individual even if the company would not get paid by the health plan provider.
Funding and financials
In August 2022, the company raised USD 15 million in a Series A funding round led by Define Ventures along with participation from other venture capital firms. The funds were set aside to launch new services on the company’s platform including the ability to book appointments with providers, setting up preventive care and dental care options, identifying cheaper prescriptions, and accessing digital chronic care management solutions.
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