Welcome

Bourbon gets a lot of attention in the Commonwealth of Kentucky. Health Distilled offers proof that healthcare innovation should, as well. Neat!

Hey Hey ICHRA!

The ICHRA [Individual Coverage Health Reimbursement Arrangement] is an alternative to offering a traditional group health plan to employees. “The ICHRA market is small, serving around 500,000 to 1 million enrolled employees. But it is growing at around 60% year-over-year,” according to a February 27, 2025 report from Bailey & Company.

A couple of ICHRA platforms have recently closed funding rounds.

Thatch Health, Inc. raised a $40M Series B funding round led by Index Ventures and joined by Andreessen Horowitz, General Catalyst, ADP Ventures, SemperVirens, PeopleTech Partners and The General Partnership.

Venteur, Inc. closed a $20M Series A funding round led by Informed Ventures and American Family Ventures, with participation from Morgan Health, Ingeborg Investments, Catalyst by Wellstar, Plug and Play, Revelry Venture Partners, Houghton Street Ventures and Techstars.

Why is that pertinent here in Kentucky? Louisville-based Kyndly Benefits, Inc., that’s why.

Kyndly was organized in 2022 by co-founders Waleed Bahouth and Erik Anderson, both former Humana employees. Kyndly ICHRA is a relatively new offering from the company.

The ICHRA space is heating up. We’ll keep an eye on it. And on Kyndly!

RCM

A nice piece here on RCM by Altimeter’s Selina Wang.

Louisville has been active in the RCM space over the years. Some thoughts, here.