Interest-free, pay-over-time solution helps members manage out-of-pocket expenses amid nation’s growing medical debt problem
MINNEAPOLIS, September 1, 2022 /PRNewswire/ — Gravie announced that starting today, it will greatly expand Gravie Health Plan members’ access to Gravie PayMT, an interest-free pay-over-time solution that members can use to pay any medical bill they may be responsible for, whether planned or unplanned. The solution is pioneered in the healthcare industry and is inspired by buy-it-now, pay-later services in other industries that continue to grow in popularity with consumers. The expansion follows a year-long pilot of Gravie Pay.
“We believe people shouldn’t have to choose between getting the care they need and risking their financial future,” says Marek Ciolko, co-founder and co-CEO of Gravie. “With the Gravie’s Comfort plan, our members can already access most of their primary care at no cost, and now with Gravie Pay, they will have a flexible way to pay for the rest of their healthcare expenses. Medical debt is out of control in America, and it not only negatively affects people’s finances, but also their health.”
More … than 100 million Americans are struggling with medical debt, and half of American adults don’t have the money to cover the unexpected $500 health care bill, according to a recent KFF survey. Health has become largest source of collection receivables in the United States Although the problem is reaching rampant levels, the healthcare industry as a whole lacks solutions.
Gravie’s flagship health plan, Comfort, offers an impressive list of free services, ensuring members are rarely responsible for out-of-pocket expenses. For those less common situations, Gravie Pay offers a way to ease the financial burden and provide even more peace of mind. Members will have access to Gravie Pay through their member portal which will allow them to pay for personal expenses at their own pace, allowing them to prioritize their health without compromising their financial well-being.
No credit checks will be required for Gravie Pay, and members will be able to seamlessly access this service to pay eligible expenses under their health plan – for scheduled or unscheduled medical bills. This unique offering makes it easier for members to access the financial flexibility they need, with the ability to spread out payments for up to 12 months without interest or fees.
After paying their provider with Gravie Pay, members will be able to select a monthly repayment plan that suits them, paying at their own pace with no fees or interest. Refunds are transparent and can be automatically set up as a payroll deduction.
For more information, visit www.gravie.com.
Gravie has been and continues to be at the forefront of changing and improving the healthcare industry by creating innovative employer-sponsored healthcare benefit solutions that put consumers first. Comfort™, Gravie’s flagship product, is the nation’s first health plan that offers 100% coverage on most common health services, at a cost comparable to traditional group health plans. Learn more about Gravie at www.gravie.com.