SOURCE: Hixme

Hixme

February 23, 2016 11:20 ET

Hixme Launches a New Platform to Help Employers Break Free From a Vicious Annual Cycle and Give True Benefit Ownership to Employees

Kleiner-Backed Hixme's New Benefit Platform Uses Advanced Data Analytics to Offer Employees a Benefit Package They Can Actually Own

AGOURA HILLS, CA--(Marketwired - Feb 23, 2016) - Hixme, the technology leader in the new era of employee-owned benefits, today announced the launch of a new benefits platform that provides a remarkable new level of flexibility and freedom for both employers and employees. Employers are no longer at the mercy of a costly and frustrating annual retooling of benefits with diminishing value. At the same time, their employees can shop for their own healthcare coverage from the entire private marketplace and, for the first time, truly own their benefit.

Employer-sponsored healthcare coverage is a "benefit" that has been eroded by skyrocketing medical costs, restrictive government regulation, and a harsh, rigid model that has been failing employees and employers for years. Hixme was created to restore this lost "benefit" in a post-Affordable Care Act world, now possible with the latest technology and the power of consumer personal ownership. Once an organization leverages the Hixme platform, it will never view employee benefits in the same way again, and will be free of the tedious annual benefits treadmill.

"Technology continues to revolutionize traditional industries from banking to transportation, yet employee healthcare coverage has been frozen in time by the archaic rules of the group insurance model," said Denny Weinberg, CEO at Hixme. "With our platform we've been able to replace the 70 year old traditional model with a benefit model where each employee can design and then own their own benefit package."

Using Hixme, organizations are transforming their benefits culture, lowering healthcare coverage costs, and liberating themselves from annual insurance cycles. This reinvention of the benefit reduces administrative complexity and costs, and in turn frees organizations to focus on what matters most -- increasing the commitment, productivity and happiness of their employees. This can begin to be realized when employees have the power to truly own healthcare coverage plans and other benefits that are valuable for them and their families.

"Hixme's vision is the future of the employee benefits industry," said Nate Randall, ‎Benefits and Healthcare Innovation Advocate and Leader. "By enabling employees and their families to build customized, personalized, and individually owned benefits packages, Hixme is changing the value proposition. For years many organizations have attempted to control healthcare coverage costs using plan design, in many cases resulting in higher employee out of pocket costs. Even so, since 1999 the share of total premiums paid by employees has increased at a rate 3 times higher than the increase in wages. The Hixme team saw the ACA as the perfect catalyst to change the way employers and employees think about benefits."

"Our main priority is to give our employees the benefits they really want and will truly value. As any employer knows, finding a benefits plan can be an uphill battle both for the company and the employee, and often no one is happy with the outcome," said Peter Baer, CEO of Strategic Acquisitions. "I have a completely different outlook after using Hixme's platform -- the selection process is not just simple, but customized for each employee, everyone has more choices and we've been able to cut costs."

Hixme's flexible, scalable cloud platform leverages data science and analytics to personalize and package employee benefits into logical "bundles," while providing benefit administrators and employees with a clean, easy-to-use portal to select and manage their benefits. After employees set up their individual profile with Hixme, the platform leverages information about them and their family members to present them with options tailored to their needs, preferences and lifestyle.

Hixme's executive leadership is deeply rooted in healthcare, benefits, and insurance solutions, and Kleiner Perkins Caufield & Byers led a $10.5 million Series A round in funding for Hixme last year. CEO, Denny Weinberg, a 20 year veteran and co-founder of WellPoint (later merged with Anthem), is widely considered an architect of the modern day PPO, and the grandfather of today's Individual market model, while Founders, Dan Peate, and Karen Albanese, have held executive roles at large Benefits consulting and brokerages.

To learn more about the Hixme platform visit www.hixme.com. To see more from the company, check out their social channels on Facebook, Twitter and YouTube.

About Hixme
Hixme is the technology leader for the new era of employee-owned health benefits for large organizations. Bringing back the benefit lost to the costly and complex traditional employer-based model, Hixme's team of benefits and healthcare experts developed breakthrough technology and an intuitive platform that gives employees the freedom to choose the benefits they really plan to use. Organizations can use Hixme to leave the benefits treadmill behind, reduce administrative complexity and costs, and focus on what matters most. For more information about Hixme, visit www.hixme.com.

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