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Saturday, November 07, 2015
Friday, November 06, 2015
1871 becomes first incubator to offer members healthcare and benefits exchange
What a week it’s been for 1871.
On Wednesday, Chicago’s esteemed tech hub was named the number one university-affiliated incubator in the U.S. by UBI Global.
Today, 1871 adds another trailblazing laurel to its resume.
According to a company statement, the Merchandise Mart-based community will become the first incubator in the world to offer a private healthcare and employee benefits exchange available to member companies, individual workers and alumni members who maintain membership.
“From day one we’ve been talking about the importance of launching healthcare for our members,” CEO Howard Tullman said in the statement. “This is an essential tool for all companies in recruiting and retaining employees, especially startups. It’s also a critical offering for individuals who are pursuing their passion and dreams, but who are also responsible for themselves and their families.
"We are really excited to add this to the robust set of services and resources we already offer our members and which further distinguish 1871 on the global stage.”
Using the site 1871.memberbenefits.com, 1871 members can choose among several health insurance plans in addition to a suite of other coverage, including dental and vision insurance, identity theft protection, telehealth services, and even pet insurance.
“Access to a complete set of employee benefits is crucial to our ability to hire the most talented employees for our growing team,” said 1871 member and Options Away co-founder and COO Heidi Brown in the statement.
Brown added she’s proud to be a part of an organization that’s “stepping up” on making sure community members have access to quality and affordable healthcare.
Companies working at 1871 have the option to organize standardized contribution plans tailored to the needs of their employees and business.
Wolf Point Advisors, the financial services firm powering the exchange, will have extended office hours and staff available to help companies and individuals find the plan that’s best for them.
Coverage begins at the start of the new year, and 1871 members can enroll now.
Because finding quality health insurance can be a major hurdle for startups, 1871’s announcement caught the attention of some of Chicago’s biggest brands.
“Health insurance is key to attracting and retaining top talent, which is crucial to building great new businesses,” said Matt Maloney, CEO of GrubHub in the statement. “This would have been very helpful when I was building GrubHub.”
1871 announces health care, benefits exchange for members
1871 announces health care, benefits exchange for members
Meg Graham and Amina ElahiContact ReportersBlue Sky Innovation
Merchandise Mart-based tech hub 1871 announced Friday a private "one-stop shop" health care and employee-benefits exchange for its members.
The incubator said it partnered with financial-services firm Wolf Point Advisors to create the exchange, which offers health, dental, vision, identify theft and pet insurance, plus telehealth services.
The exchange will be open to the incubator’s 325 member startup companies, plus individual members and alumni members who have graduated but maintain membership, 1871 said in a news release. Members will be able to sign up for coverage for themselves and their families beginning Nov. 15, it said.
The incubator has activated its marketplace website, the 1871 Private Insurance Exchange, which offers plans from various providers — as does healthcare.gov, the federal marketplace for individuals, families and small businesses provided under the Affordable Care Act.
Howard Tullman ⇒, CEO at 1871, emphasized the convenience of the new marketplace.
“This is not being promoted as if it’s some huge savings” but more of a “one-stop shop” for members to avoid having to do their own comparative shopping, Tullman told Blue Sky Innovation on Friday.
Tullman said he "was hearing on a fairly regular basis from members that it was hard for young members to compete for mature talent and first-class talent if they didn’t have a successful HR and benefits solution — and certainly the exchange addresses that.”
Thursday, November 05, 2015
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