$9.7M
1 filing since 2025 · latest Equity filed
benefitbay is a Kansas City, Missouri software company that provides end-to-end administration for Individual Coverage Health Reimbursement Arrangements (ICHRAs), the defined-contribution alternative to group health insurance. Employers use the platform to group employees into classes, set budgets and allocate tax-advantaged contributions, while employees shop for individual health plans through a guided enrollment experience. The product handles plan comparison, enrollment, compliance, payroll integration, payments and carrier connectivity. Founded in 2021, it distributes primarily through insurance brokerages and supports more than 40,000 covered lives nationally.
What sets it apart
A broker-first go-to-market: rather than selling ICHRA administration direct to employers, benefitbay equips brokerages with modeling and sales tools, and pairs that with direct banking and carrier integrations so contributions and enrollments move without manual reconciliation.
An end-to-end ICHRA administration platform covering employer modeling and budgeting, employee plan shopping and enrollment, compliance, payroll integration and payments.
