BeneStream is a revolutionary software start-up that has the potential to deliver billions of dollars in poverty alleviation every year. Recognizing an unprecedented historical opportunity in the Affordable Care Act, BeneStream’s technology will help millions of eligible working-poor families claim critical government benefits. BeneStream received early support from the Ford, Robin Hood and Clinton Foundations. Learn more at www.BeneStream.com
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These entrepreneurs say Obamacare gave them an idea for a niche small business.
Helps low-wage workers get insured
BeneStream founders Peter Hatch (left), Ben Geyerhahn and Andrew Greenblatt
(September 3, 2013) Obamacare will require large companies to make sure all of their employees have health insurance. But for retailers, restaurants and home health agencies, which typically employ a high percentage of low-income workers, the employer won't necessarily have to foot the bill.
That's because many of these workers are eligible for Medicaid, but either they or their employer don't know it, said Ben Geyerhahn, one of the co-founders of BeneStream.
BeneStream offers software that helps businesses identify which uninsured workers are eligible for Medicaid and then helps enroll them. The benefits are twofold: Newly enrolled workers avoid paying a penalty under Obamacare, while employers save money by not having to pay for their coverage.
Expected to launch Oct. 1, when many of the insurance exchanges go live, the software will screen a company's workforce for Medicaid eligibility and then offer to enroll them.
"It's opt-in, so employees can choose not to participate," said Geyerhahn. BeneStream doesn't evaluate specific payroll information but just whether overall income qualifies employees for Medicaid.
Expansion: We are currently looking to expand our physical presence across the nation and are looking for motivated and reliable team members! If interested please contact Kayla to (212) 231-9732 or email Kayla@benestream.com