Trump's Policies Threatens Toronto-based Company's $1B Goal
Trump came into power with a promise to “Make America Great Again”. Ever since, he has made some changes to the policies of the previous administration including repealing Obamacare (United States’ Affordable Care Act). Obamacare gives tax incentives to U.S. businesses with fewer than 100 employees to fund their employees’ wellness program. League Inc., a digital health and wellness benefits start-up based in Toronto, plans to become a one billion dollar company by 2018. This dream may be jeopardized if Obamacare repeal by Trump becomes a success.
League was launched in 2014 as a mobile health and wellness marketplace that links customers to accredited health practitioners. League Inc. has witnessed an unprecedented growth over the past two years, growing to ninety employees from the initial fifty. First, it began offering an account for wellness spending in January 2016. By October of the same year, it added health insurance to the menu.
League’s end-to-end platform benefits are already on probation in Seattle with a larger rollout in the United States planned for this year. From Ontario, League spread across Canada with Quebec in view later in the year. Sales records are still much hidden but the company hinted that it made a triple-digit growth in 2016.
In terms of financing, League partnered with RBC and raised $33 million. Findings by the World Health Organization as well as reports on The New England Journal of Medicine show that 80% of chronic diseases and 70% of cost are avertable.
League’s chief health officer, Lori Casselman, said, “We believe there is tremendous opportunity to identify risk and proactively manage health and prevent chronic diseases and its cost.”
Casselman differentiated League from other health and lifestyle accounts by the customizability and flexibility it offers employers and employees alike.
It appears health program employees are looking beyond traditional health coverage to physiotherapy and personal trainers. This flexibility in wellness was the motivation behind the partnership of Powered by Search’s (one of Canada’s fastest growing digital marketing agencies) with League.
Hinting on League, Casselman says, "It's similar t Starbucks app where you know exactly how much you have left in your account. Users have a digital wallet and know exactly how much their employer has subsidized for each of the health and lifestyle spending accounts".
Another difference between League and other health and lifestyle account is that they offer virtual services like online health-risk information and health-risk assessment tools, educational webinars, and health screening classes delivered by practitioners vetted by League.
Powered by Search’s Chief marketing officer and vice-president of sales, Matthew Hunt says, “Today everybody at Powered by Search is using the benefits… They are healthier because of it, which is a good thing for us”.