Thatch hits $1B valuation offering employers flexible healthcare cost solutions

Health benefits platform Thatch has reached a $1 billion valuation amid rising healthcare costs across the United States. The company provides employers with an alternative to traditional group health insurance through an Individual Coverage Health Reimbursement Arrangement (ICHRA) model. Rather than enrolling all staff into a single company-wide plan, Thatch allows businesses to fund employees' individual insurance choices via a personal marketplace. This approach gives workers more flexibility in selecting coverage while helping employers better control their healthcare spending.