CHICAGO--(BUSINESS WIRE)--In response to widespread employer demand for greater diversity in their health benefits, Maestro Health, a leading all-in employee health and benefits company, today announced its partnership with Kashable, a socially responsible financing solution for employees. Expanding voluntary benefit offerings to include non-insurance products on Maestro Health’s innovative tech-meets-service platform, maestroEDGE, offers employers a holistic approach to better align the health and financial wellbeing of their employees.
According to the 2014 Aflac Workforce Report, 50 percent of employees have $1,000 or less saved for sudden medical expenses. What’s more, a 2014 Harris Poll found that 32 percent of employees spend 2-3 hours per week dealing with personal finances at work, with 20 percent ranking “finances” as the top issue that distracts them during work hours (Aflac).
“As cost shifting continues to increase the financial burden on employees, employers need solutions that provide their workforce with greater choice and protection,” said Nancy Reardon, Maestro Health Chief Product Officer. “Adding Kashable to our maestroEDGE platform is part of a broader strategy of smart investments to support our continued commitment to enhance the wellbeing of employees. With a tangible benefit layered into our diverse suite of offerings, we’re enabling employers to better attract and retain top talent by providing that talent with a more comprehensive approach to their benefits.”
Kashable is a financial wellness solution that provides socially responsible credit to employees. As an online term-loan program, employers can offer Kashable as a voluntary benefit to provide disciplined, responsible and easy-to-manage credit at low rates.
Employers utilizing the maestroEDGE platform will now be able to offer the Kashable loan program to employees as part of their benefit offering. Employees who would otherwise be driven to borrow from their retirement plans, predatory lenders, or high-rate credit cards to bridge short-term gaps in their finances can select this offering and take out a loan in minutes, repaying it through payroll deductions. The partnership between Maestro Health and Kashable is yet another advancement in the evolution towards consumer-focused employee health and benefits.
“The addition of our unique, non-insurance product to Maestro Health’s suite of offerings supports its innovative, all-in approach to employee health and benefits,” said David Sherman, Vice President, Kashable. “Delivering loans as a tangible benefit further personalizes Maestro Health’s offerings to meet the unique needs of its clients and their employees.”
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About Maestro Health™
Headquartered in Chicago, IL, the Maestro Health (www.maestrohealth.com) vision is a modern benefits administration and private exchange ecosystem that puts employers in control of all aspects of today’s complex healthcare system by unifying them on a single, comprehensive platform. Our partner base ranges from small employers to Fortune 1,000 organizations to which we offer integrated “one-stop shopping,” along with private-labeled exchange solutions—enabling them to brand our offerings as their own. Maestro Health combines private exchange, benefits administration, self-funded insurance, healthcare savings account administration and all other essential components on our integrated mobile and web platform—maestroEDGE. Simply put, “We believe benefits work better when they work together.”
Kashable® is a socially responsible financing solution for employees, offered as an employer-sponsored voluntary benefit program. With Kashable, employees apply online and take low-cost term loans instantly, then repay them automatically through equal installment payroll deductions. Kashable is transforming the way working America accesses credit. For more information, visit www.kashable.com.