PeopleKeep is a company that specializes in personalized benefits administration software in the human resources industry. The company's main offerings include software solutions that enable employers to provide health reimbursement arrangements and employee stipends for various lifestyle benefits. These services primarily cater to organizations of all sizes, from small businesses to large employers. It was founded in 2015 and is based in Murray, Utah.
ESPs containing PeopleKeep
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The healthcare benefits administration market handles various aspects of benefits administration, including enrollment, eligibility verification, plan selection, and communication. By utilizing technology and automation, these platforms reduce manual errors and paperwork, resulting in cost savings and improved accuracy. The healthcare benefits administration market ensures compliance with regulato…
Expert Collections containing PeopleKeep
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
PeopleKeep is included in 1 Expert Collection, including HR Tech.
The HR tech collection includes software vendors that enable companies to develop, hire, manage, and pay their workforces. Focus areas include benefits, compensation, engagement, EORs & PEOs, HRIS & HRMS, learning & development, payroll, talent acquisition, and talent management.
Latest PeopleKeep News
Sep 23, 2023
ICHRAs becoming popular alternative to group plans Details Published: 23 September 2023 PeopleKeep, a Murray-based human resource SaaS company, has released a new report that shows that individual coverage health reimbursement arrangement plans (ICHRAs) are becoming more prevalent as an alternative to traditional employer-sponsored group health plans and that such plans are proving beneficial to employees. Under the provisions of an ICHRA, an employee who maintains an individual health plan at his or her own expense can be eligible for reimbursement by the employer of healthcare costs like monthly premiums and out-of-pocket costs like copayments and deductibles. PeopleKeep’s report found that the average monthly allowance employers offered their employees from midyear 2022 to midyear 2023 was $908.80 — much higher than the average lowest-cost health insurance premium of $472, as reported by the Kaiser Family Foundation. The data showed that approximately 56 percent of employers offered a premium-plus ICHRA, enabling their employees to use their allowances for more than 200 qualifying out-of-pocket medical expenses in addition to individual health insurance premiums. Employers who chose to cover premiums plus out-of-pocket expenses were offered an average monthly allowance that was 49 percent greater than employers who chose to cover premiums only. On average, employers reimbursed employees $573.14 for their individual insurance premiums. Outside of premiums, the most common expenses for which employees submitted reimbursement requests were doctor’s office visits and prescriptions. “With the acceleration in the number of companies offering an ICHRA and employees opting into participation, the benefit has asserted itself as a strong alternative to traditional group health insurance plans,” PeopleKeep’s study authors said.
PeopleKeep Frequently Asked Questions (FAQ)
When was PeopleKeep founded?
PeopleKeep was founded in 2015.
Where is PeopleKeep's headquarters?
PeopleKeep's headquarters is located at 383 West Vine Street, Murray.
What is PeopleKeep's latest funding round?
PeopleKeep's latest funding round is Seed VC - IV.
How much did PeopleKeep raise?
PeopleKeep raised a total of $6.5M.
Who are the investors of PeopleKeep?
Investors of PeopleKeep include Kickstart Fund, Royal Street Ventures and Prospector Equity Capital.
Who are PeopleKeep's competitors?
Competitors of PeopleKeep include Take Command Health and 1 more.
Compare PeopleKeep to Competitors
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Nexben operates an open insurance marketplace, that helps companies in the process of buying and selling health insurance. It provides a marketplace for providers, brokers, and consumers to connect and transact with each other. The company was founded in 2015 and is based in Minneapolis, Minnesota.