Brandy Burch: Can Personalized Benefits Solve Healthcare Issues?

21st Century Entrepreneurship

Brandy Burch is the CEO and founder of BenefitBay, and we spoke about how personalized healthcare benefits could reshape the U.S. system. Drawing from her own non-traditional journey through small business leadership and personal healthcare struggles, Brandy offers a unique perspective on tackling healthcare challenges for both employers and employees. From the financial hardships of her pregnancy due to pre-existing conditions to her vision of individualized healthcare solutions, Brandy emphasizes the need for accessible, flexible benefits.

One of the most important themes is how U.S. healthcare, despite progress, still leaves many employees without affordable, accessible care. "The average American is not seeking care... because they don’t have the $165 for that office visit." Brandy explains how this gap impacts both the financial and health well-being of families, often leading to missed preventative care and exacerbating long-term costs.

We also explored the revolutionary Individual Coverage Health Reimbursement Arrangements (ICHRAs), which passed in 2020. Brandy believes that giving employees personal choice in their healthcare plans is key to solving many of the ongoing problems, but admits it’s a challenge: "You need a solution... your HR professionals can't answer 2000 humans' personal decisions around their healthcare."

Her journey to entrepreneurship is particularly inspiring, especially for single parents and those who doubt their ability to succeed in leadership roles. "I have six children... I'm here to prove that you can do all of those things." Brandy's path exemplifies the power of persistence, problem-solving, and passion for creating change in a broken system.

Key Takeaways:

• Healthcare Access: Why many U.S. employees delay care due to high deductibles and out-of-pocket costs.
• ICHRAs: How this new reimbursement model empowers employees to choose personalized healthcare plans.
• Balancing Family & Leadership: Brandy’s personal reflections on managing a large family while building a successful business.
• Employee Culture & Education: How BenefitBay invests in employee education, supporting them with tuition reimbursements, student debt programs, and continuous professional development.

This episode is a must-listen for anyone interested in how personalized benefits can bring much-needed reform to U.S. healthcare.