SpringFour’s Added Health Insurance Resources Ease Open Enrollment Puzzle

The financial wellness fintech’s increased health insurance resources deliver critical assistance to Americans during the open enrollment period, starting Nov. 1.

CHICAGO, October 30, 2024 – SpringFour, the first-of-its-kind, leading financial health fintech, today announced the expansion of its health insurance resources, at a pivotal time when many Americans are weighing their insurance options. By expanding its solutions to include nonprofit local Health Insurance Navigators, SpringFour offers a lifeline to the uninsured during the crucial open enrollment period starting November 1.

Healthcare costs are burdensome for half of American adults. For seven percent of Americans, the price of insurance alone is so prohibitive that they live uninsured and skip routine healthcare visits, despite the risk of facing hefty medical bills. Millions of people who were enrolled in Medicaid during the pandemic have now lost access to that coverage due to ineligibility and need to apply for insurance coverage on the Affordable Care Marketplace. To address these challenges, SpringFour’s expanded health insurance resources will ease the strain on people worried about how they’ll pay for unexpected or routine medical care. 

Building on SpringFour’s existing resources of government-backed insurance assistance, it has now added non-profit Health Insurance Navigators that help individuals with insurance program research and enrollment. By widening its reach in health insurance, SpringFour now offers access to hundreds of vetted local and state programs dedicated to closing the uninsured gap. In response to a 125% increase in demand from consumers for SpringFour’s health insurance referrals year-over-year, SpringFour added to its health insurance resources and authored a brand new Financial Health Resource Guide on Health Insurance which provides information on navigating government programs and open enrollment as well as obtaining Health Insurance through the Health Insurance Marketplace, including health insurance options and a link to the exchange for each state health insurance marketplace. 

Giving people access to the support they need to pay for necessities such as healthcare and housing improves their overall financial health. This is at the heart of why Rochelle Nawrocki Gorey founded SpringFour in 2005. 

“People shouldn’t have to worry about how they’re going to pay for their insurance or medical bills — but healthcare costs have become a much greater piece of the household budget. By expanding SpringFour’s health insurance resources we’re giving people more options to reduce their costs and improve their financial standing. We’re proud to deliver these resources in partnership with leading organizations, and connecting people who are struggling financially with vetted nonprofit organizations now, during open enrollment, has the greatest impact,” said Nawrocki Gorey. 

Since its launch in 2005, SpringFour has connected millions of Americans to resources that improve their financial health. In the second quarter of 2024, SpringFour delivered more than 2 million financial health referrals to consumers in need, 13% more than the previous quarter and more in one quarter than ever before.

Learn more about SpringFour here: https://springfour.com/

About SpringFour

Founded in 2005, SpringFour is the first-of-its-kind, leading social impact fintech that empowers banks, credit unions, fintech lenders, employers, loan servicers, mortgage insurers, nonprofits, and organizations across all industries to connect consumers with vetted, local nonprofit and government financial health resources. Trusted by leading organizations including Capital One, BMO, Fifth Third Bank, MSUFCU, M&T Bank, OppFi, KeyBank, Patelco Credit Union, Avant, Enova, Oportun, Mission Lane, and more, SpringFour’s product suite includes an innovative contact center tool, digital self-service products, and APIs that increase payment performance, add brand value, strengthen customer relationships, drive ESG and social impact, support consumer financial health, and improve bottom lines. SpringFour has received many prestigious awards including American Banker’s Most Influential Women in Fintech, Inc. Magazine’s Female Founders 250, Real Leaders’ Top Impact Companies, Fast Company’s Brands that Matter, Finovate’s Innovator of the Year, and more. SpringFour was recently acquired by C&R Software, a CORA Group company and subsidiary of Constellation Software, Inc., the 23rd largest software company in the world with an $80B market cap.