Thatch Reaches $1B Valuation as Employers Hand Workers Health Benefits Budgets

Thatch raised $108 million at a $1 billion valuation to continue growing its health benefits platform, the company said in a Tuesday (Sept. Thatch’s platform helps employers move from traditional group health plans in which they choose one plan for their workforce to a “consumer-directed model” in which they give employees a budget and the ability to choose their own coverage, according to the release. With this model, employers set a defined health benefits budget, and emplo