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TriNet

Managing employee health-related benefits

Health Benefits Platforms

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 Healthee, earlier known as Insurights, leverages AI to simplify the health benefits experience for employees and employers alike. The company offers a virtual healthcare assistant named Zoe that provides users with real-time, personalized answers to coverage and treatment options, streamlining the process of benefits navigation. Key functionalities of the product include 24/7 availability for user inquiries, instant navigation through coverage details and plan selection, providing personalized health recommendations and preventive care prompts, booking appointments, and explaining health plan coverage in understandable terms. This solution was designed to increase efficiency for HR leaders, brokers, and key decision-makers.&nbsp;
 
 
 In March 2022, Healthee announced its rebranding and the launch of mobile applications on Apple and Android platforms as part of its expansion strategy.
 
 
 Key customers and partnerships
 
 
 Healthee's platform serves a diverse array of users, including HR leaders, insurance brokers, finance leaders, third-party administrators (TPAs), and professional employer organizations (PEOs). In 2023, Healthee's data team analyzed over 750 unique health plans and more than 50,000 pages of plans in support of tens of thousands of users across the country​.
 
 
 In October 2023, Healthee partnered with TriNet, a human resources solutions company to provide TriNet customers with exclusive access to Healthee's AI-powered health and wellness digital solutions.The collaboration aimed to provide employees with tools to understand and select appropriate benefits packages. The companies also plan to introduce an AI-based personal health assistant feature in 2024.&nbsp;
 
 
 Funding and financials
 
 
 In October 2021, Healthee raised USD 22 million in seed funding in a round led by Group 11. Other investors such as Cresson Management, Good Company, and Insurtech Israel also participated in the round. The newly raised funds were intended for team expansion&mdash;recruiting professionals primarily from the healthcare and insurance sectors. 
 
 
 
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Healthee is an AI-powered digital platform that allows employees to utilize their health benefits and coverage. It provides employees on-the-spot answers to their health coverage and benefits questions, helps them find lower-cost providers, and lets them know about relevant preventive care benefits to ensure they are healthier.

TriNet provides HR solutions to small to mid-sized businesses including payroll, health benefits, and human capital management. TriNet's main focus is to assist SMBs in managing their human resources, payroll, benefits administration, and other HR-related functions, allowing these businesses to concentrate on their core operations and growth. TriNet is a professional employer organization headquartered in San Leandro, California.

<div> TriNet (NYSE: TNET) is a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs). Founded in 1988, the company offers a full range of HR services including payroll processing, benefits administration, risk mitigation, and compliance support. TriNet's core offerings include: <ul> <li> Professional Employer Organization (PEO) services: As a PEO, TriNet becomes a co-employer and handles payroll, benefits, HR administration, and regulatory compliance. This allows SMBs to offer enterprise-level benefits while reducing administrative burdens. </li> </ul> <ul> <li> HR Platform: TriNet's cloud-based software provides tools for employee onboarding, time tracking, performance management, compensation planning, and more. The platform includes a mobile app and employee self-service portal. </li> </ul> <ul> <li> Payroll services: TriNet offers full-service payroll processing, tax filing, direct deposit, expense management, and reporting. Payroll can be run as frequently as needed with no additional fees. </li> </ul> <ul> <li> Benefits administration: TriNet provides access to Fortune 500-level benefits including health insurance, retirement plans, and other perks. The company leverages its scale to negotiate competitive rates. </li> </ul> TriNet serves over 23,000 clients across various industries as of December 2022. The company utilizes a bundled pricing model with per-employee-per-month fees, though specific pricing requires a custom quote. While more expensive than basic payroll providers, TriNet aims to provide a comprehensive HR solution for growing businesses. </div>

TriNet says current healthcare environment is a short-term headwind

Distributed workforces require new solutions for office operations, HR, payment, and more.

Remote Work Infrastructure

Companies offering tools to infer employee morale (through surveys and quick assessments) and productivity, including functions for goal setting, review, and feedback.

Companies that offer the entire spectrum of HR tools including payroll processing benefits, onboarding, compliance, analytics, scheduling etc

Companies providing either standalone or combined payroll and benefits services to businesses.

EoR - Companies that assist businesses in hiring distributed teams globally in compliance with foreign labor laws. EoRs become the legal employer of offshore employees. Solutions include payroll, benefits, and taxes.

PEO - Companies that offer similar services to EoRs but establish a co-employment arrangement with businesses and do not become the legal employer.

Companies offering tools such as chatbots, surveys, games, and other activities to infer, assess and improve employee morale and sentiment.

Companies that provide a centralized space for employees to access internal and external resources, enterprise applications, and enable workers to communicate across departments, and stay up to date on organizational announcements.

Enterprise platforms that help employees and their dependents receive primary or specialist care services as part of their health benefits. These platforms also provide access to Telehealth services, behavioral care services, and remote patient monitoring

Enterprise platforms that help employees better navigate their healthcare journey by identifying which healthcare services are covered under their benefits plan and how to best maximize their use (e.g. identifying a wider pool of suitable regional physicians for consultation)

Enterprise platforms that specialize in helping employees manage their pharmacy- and prescription-related benefits to refill prescriptions or dispense medication for in-store pickup or home delivery

Enterprise platforms that allow employers to directly manage and customize employee benefit plans. These platforms enable enterprises to present employees with multiple health benefits options across health plans and negotiate terms with third-party health administrator services and insurance providers

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