PortfolioVenteur

Why We Invested

Venteur is an administrator of Individual Coverage Health Reimbursement Account (ICHRA) plans. They offer this plan design through a data-enabled platform that enables employees to select coverage that works best with their care needs and preferences – while also reducing the administrative burden on employers.

Since 2021, Venteur – a Berkeley, California-based company – has offered ICHRA plans by providing a platform for employers to offer their employees a tax-free allowance to purchase health insurance plans on the individual marketplace. This structure allows employees to choose portable health care coverage that is specifically suited to their needs, preference and risk tolerance – akin to the concept of 401K plans for retirement savings. We believe this offers a potentially disruptive (yet welcome) model in expanding consumer choice in health care.

ICHRA plans offer an attractive option for employers seeking to cap exposure to rising health care costs, better manage operational burden and extend employee choice. Today, small- to mid-sized businesses (SMBs) represent the largest cohort of ICHRA adopters, and we expect this trend to continue.

Employers – especially SMBs – require greater flexibility, innovation and cost predictability for their insurance design. The Venteur platform shifts the complexity of administering the plan away from employers, while leveraging Artificial Intelligence (AI) to help employees select a plan that aligns best with their health care needs and preferences.

Venteur’s model is effective in offering highly affordable and competitive premiums, compared to the average small group rates – particularly in states where the individual markets continue to grow. Notably, sustained growth of ICHRA plans is dependent on maintaining these individual markets and making certain that insurance products offered on them are competitive and high-quality.