Employer sponsored, payroll deducted payment plans for any medical, dental, vision, or veterinary expenses.
Employers that offer Paytient as a benefit, increase adoption of High and Higher Deductible Health Plans (HDHP) without their harmful effects on employees or costly overseeding of HSA/HRA accounts.
Use Paytient to turn any medical, dental, vision or veterinary bill into an affordable payment that comes automatically out of your paycheck. Simply tap the app, show your phone, the doctor is paid today, and you pick your payment plan that works for your budget.
Paytient pays your practice in-full at the time of service and puts you in front of employees when they are looking for care.
Your clients trust you to help them improve employee recruitment and retention without overspending on benefits. Paytient is a modern financial health benefit that enables increased High and Higher Deductible Health Plan adoption in a way that employees love.
Paytient is currently available as a mobile app on both Apple and Android. If your employer offers Paytient, download it today.
If they don't yet offer Paytient, let us know and be the first person to refer your employer. You will earn $500 when we sign them up!
If you're one of the 20 million Americans with an HSA, thank your employer for giving you access to the best investment account possible. Just 3% of HSA holders fully utilize its triple tax advantage and invest their savings.
Paired with an HSA, Paytient is an HSA accumulation tool. Use Paytient to pay your eligible out-of-pocket expenses to build up and invest your HSA dollars for a catastrophic medical event, or hopefully an additional source of tax-free retirement savings.
There are 34 million Flexible Spending Accounts in the US. Even if your employer offers the 3 additional months at year end, there's no changing the fact that these dollars are still use-it-or-lose-it, and as such, most folks under-fund their FSA. The average total contribution is about $450, while most folks with out-of-pocket expenses spend about $750+ per year.
If you have FSA dollars, use them and then pay the rest with Paytient over time, at no cost to you.
The employee has two options to payoff their balance - they voluntarily elect to withhold the balance from their last pay check, or they decide how they'd like to pay it off from their bank.
We have found that the cohort of employees using Paytient are 30-40% less likely to resign than employees at the same employer not using Paytient.
Every employer has a different historical employee turnover rate. When desigining Paytient for your organization's needs, we work with you to craft the right way to manage the risk of employee non-payment due to separation.
Hard Economic Savings: we help increase employee adoption of high, and higher deductible health plans without their harmful effects of delaying treatment due to financial anxiety. For every employee that switches from a low to high deductible, we save the employer about 15x our cost. Using Paytient increases your bottom line.
Soft Economic Impact: 30-40% less turnover. Improved recruitment. Less financial anxiety due to unplanned expenses relating to medical, dental, vision, or veterinary issues. A less distracted employee is a more productive employee. Reduction of costly and hasselsome 401k and 403b loans. A more financially healthy workforce.
Healthcare will follow retirement. In the 50s, 60s, and 70s the unquestioned status quo was your employer fully paid your retirement. In 1978, the 401k upended this direct benefit and now most folks directly contribute to their own retirement with everyone paying into a backstopping public option (i.e. Social Security).
Today, employer sponsored healthcare is largely a defined benefit. We believe the future is more akin to retirement where 1) most employers make or match contributions to employee HSAs, 2) those savings build up in your early, healthy years of a career, and 3) all of this is backstopped by truly affordable catastrophic coverage.
In that future, most routine, sub-catastrophic health care encounters will be purchased or financed in an effective cash market, and insurance will be for its intended use: the unpredictable and unaffordable.