Kaiza Molina Making Health Benefits Affordable for Small Businesses Through StretchDollar

Finding affordable, quality health benefits has long been a struggle for small business owners and their employees. Traditional group health plans are burdensome, rigid, and expensive, requiring a minimum number of employees to participate and significant employer contributions. Many small businesses simply can't make the math work. As a result, over 30 million Americans lack health insurance, with small business employees disproportionately represented in that figure.  

Kaiza Molina experienced these challenges firsthand. Early in her career, Kaiza worked at small business payroll and benefits provider Gusto and then health insurance startup Decent. "Time and time again, we'd hear our smaller-sized customers say, 'I wish I could give my employees money and let them find a health plan that suits their needs,'" Kaiza recalls. She knew there had to be a better way.  

A Career Focused on Serving Small Businesses  

At Gusto and Decent, Kaiza gained valuable insights into the world of health insurance and employee benefits from the small business perspective. "Health insurance is unnecessarily complicated and expensive, especially for smaller-sized businesses," Kaiza explains.   

"The process typically works like this: the small business owner works with a broker for 30+ hours over many weeks and ultimately decides on one (expensive) health plan to fit all employees. It's a time-consuming, inefficient, and expensive process, which is the opposite of what SMB owners are looking for." Not to mention, minimum employee participation requirements, usually around 60-70%, posed another hurdle.  

In 2019, a groundbreaking federal law transformed the landscape for health benefits by introducing tax-free reimbursements for individual health insurance premiums. This legislative shift paved the way for a revolutionary approach to health benefits. Upon delving into the details, Kaiza and her co-founder, Marshall Darr, recognized it as the long-awaited solution small business owners had been searching for—a strategic middle ground, offering a path between no health benefits and the complexities of an expensive group plan. This pivotal realization inspired Kaiza and Marshall to launch StretchDollar in 2023, with the goal of harnessing the power of this legislation to completely reimagine health benefits tailored for small businesses.  

A Better Way to Offer Benefits  

StretchDollar upends the traditional model, making it simple and affordable for small employers to offer health benefits. "Our mission is to make small businesses the best place in the world to work. We're starting with health benefits since that's one area where small businesses, in particular, get an unfair deal," says Kaiza.  

StretchDollar empowers SMBs and their employees by letting employers control their budgets while giving employees flexibility. Rather than selecting a rigid group plan, employers get total control over their benefits budget with StretchDollar, deciding what they can afford to contribute each month. Employees get to shop for individual health insurance plans that fit their needs and preferences.   

Enrollment is quick and easy through StretchDollar's online platform. Employers can be up and running with health benefits in as little as 10 minutes, and employees can receive guidance from a licensed broker to select the right plan. StretchDollar also facilitates the payments from the employer to the employee.  

Delivering Savings, Not Surprises  

Access and affordability are central to StretchDollar's mission. Letting employers define a contribution amount gives them total control over their benefits budget, making it possible to offer health benefits to employees, sometimes for the first time. Providing transparency means employers know exactly what they're paying for, with no hidden fees or surprises.  

Employers also have the flexibility to tailor contributions to their workforce, such as full-time, part-time, salary, and hourly workers. An easy enrollment process without brokers saves employers time and money. Leveraging a custom platform maximizes efficiency.  

To lessen the burden of medical costs for small business employees, StretchDollar also offers free professional claim negotiation for all bills higher than $500.  

According to Kaiza, "When it comes to traditional group health insurance, the lack of transparency often means you're given a price without truly understanding what you're paying for — if you can even afford it. That's where StretchDollar stands out."  

Transforming Small Business Health Benefits  

For small business owners struggling with the complexities of health benefits, Kaiza suggests rethinking traditional assumptions. "StretchDollar is changing the game when it comes to health benefits for small businesses. Now, you can enjoy immediate access to health benefits for your team while also keeping a tight grip on your budget. Give us a try! she says."  

With StretchDollar, small businesses no longer have to sacrifice their budget or values to offer health coverage. Employers can provide this vital benefit, empower employees with plan choices, and focus resources on their business and community. It's a revolutionary new path forward. By empowering small business owners, Kaiza Molina and StretchDollar are helping fuel the backbone of the American economy.