Thatch and Leading Health Innovators Launch Marketplace to Personalize Benefits for Millions of Employees

Function Health, Oura, Hims & Hers, Prenuvo, Truemed, and others join forces with Thatch to deliver tax-free access to high-impact health services

SAN FRANCISCO, April 30, 2025 /PRNewswire/ -- Thatch, the leading platform for modern, flexible health benefits, today announced the launch of the Thatch Marketplace, a curated ecosystem of health and wellness services that employees can access using their tax-free benefits balance. As part of the launch, Thatch is proud to announce a key partnership with Function Health, the first health platform offering access to over 160 lab tests.

Together, Thatch and Function are reimagining how employees engage with healthcare—by putting individuals, not employers or insurance carriers, at the center of the experience.

"This isn't just about cost savings. It's about offering benefits in a smarter way—our dollars go farther, and our employees get better coverage that meets their individual needs in a personalized manner," said a Thatch employer partner.

A Smarter Model for Modern Benefits

Thatch already enables employers to offer a defined monthly health allowance, giving employees the freedom to choose the insurance that fits their life. With the launch of the Marketplace, that same allowance now unlocks access to personalized care and services across categories like:

• Preventive diagnostics (Function Health, Prenuvo)
• Mental health and therapy
• Telehealth and functional medicine (Sesame, Hims & Hers)
• Fertility care
• Root-cause health interventions (Oura Ring, Peloton via TrueMed, and more)

"At Function, we believe everyone deserves access to cutting-edge diagnostics and a deeper understanding of their health. While annual physicals typically provide around 19 lab tests, Function offers access to more than eight times that number, ensuring you don't miss critical aspects of your health. We are committed to empowering people to live 100 health years, so by partnering with Thatch we are able to extend access to comprehensive lab testing through a modern, benefits-integrated platform," said Jonathan Swerdlin, co-founder and CEO at Function Health.

Instead of locking every dollar into a rigid group plan, employees now have real choice in how to use their benefits—whether that's insurance, prescriptions, or proactive wellness services like advanced blood testing and personalized health optimization through Function.

Why It Matters

The traditional benefits model wasn't built for personalization. Employers are burdened by rising costs and a web of disconnected point solutions. Employees are stuck with limited options that don't reflect their needs or lifestyles.

The Thatch Marketplace—powered by partners like Function—changes that:

• More control for employees: Choose coverage and care that fits their life
• More value from every dollar: Use benefits on what matters most
• Less burden on HR: Set a monthly budget—Thatch handles the rest

A New Era of Employer-Sponsored Care

"165 million Americans get health insurance through work, but most have no say in their plan," said Chris Ellis, CEO of Thatch. "The Thatch Marketplace puts employees in control—letting them use their benefits on the care they actually value."

The Thatch Marketplace is now live and available to all Thatch employer partners.

For more information, visit www.thatch.ai

About Thatch:
Thatch is a new way to do healthcare. Instead of employers making all of the health benefits decisions for their employees, they instead use Thatch to give them tax-free money. Their team members can use that budget through Thatch to get the health/dental/vision insurance they want, and use leftover funds in the Thatch Marketplace to access a curated ecosystem of health and wellness services.

About Function Health:
Function is the first health platform to include access to 160+ lab tests, helping individuals understand their whole body—from heart and hormones to thyroid, nutrients, toxins, autoimmunity, immunity, and beyond. Unlike traditional testing, which is often costly, inaccessible, and done reactively, Function offers access to comprehensive testing along with detailed and actionable insights from the world's top doctors at just $499 per year. This is eight times more lab testing than a typical physical, which averages 19 labs tests and may miss critical aspects of your health. All results and insights are continuously tracked and securely stored in Function's platform, allowing individuals to uncover trends and watch health transformations over time. Since mid-2023, nearly 200,000 members have joined Function.

SOURCE Thatch