To get started on the service, users are first prompted to enter the credentials for their health insurance account — the company says it supports the top healthcare providers, covering some 150 million Americans.
After entering your login, the service will pull in all of the key data: how much you’ve paid out-of-pocket this year, how much your insurance has covered, how much of your deductible is paid, and so on.
TechCrunch loves the app, which is called Cake Health.
Investment advisors who sell health insurance or consult on benefits to small businesses would be wise to watch this new service.
If it can simplify managing health care insurance for plan beneficiaries. It's a potential partner for advisors in this market.