Innovative benefits for innovative companies
Shifting the benefits paradigm for high-tech businesses
While the war for the high-tech talent rages on, your customers, your board, and even your employees are all demanding more from you. Pile on the strains from employee benefits administration and healthcare reform and you’ve got a perfect storm of complications. Sequoia is here to change all that. Sequoia Tech is a unique solution that helps high-tech companies offer an elevated employment experience with benefits and perks that are benchmarked to win in an uber-competitive space. It features a comprehensive, finely-tuned set of services, super-fast implementation, and streamlined administration processes designed to remove friction from your world and quickly propel your company through its most accelerated period of growth:
Streamlined administration & compliance
A benefits approach as revolutionary as the companies we serve
The world’s most unique group of rapidly-scaling market disruptors, who employ and nurture the best and brightest workforces, are entrusting their benefits experience to Sequoia Tech. We’ve shifted the paradigm, delivering an unprecedented benefits solution that helps recruit and retain talent, streamline workflows, and leverage the purchasing power of a group with a collective $50 Billion market value (and growing).
The Sequoia Tech promise:
Attract and retain top talent
Sequoia Tech helps you elevate the employee experience with benchmarked, Fortune 100-level plans and tons of perks from vendors like FitBit, OneMedical, and more. Better yet, there is low disruption to your workforce and their enrollment obligations are streamlined thanks to the Sequoia Advocate Support team who supports them through the process.
Streamline and execute
Focus on your core business initiatives that drive profitability, innovation, and culture, while Sequoia takes on the administrative burden with turnkey solutions and a stacked service team. We’ve removed many of the friction points you experience when trying to access your data. Robust reporting and employee self-service allow you to focus on what matters and what you love about your job.
Instead of being viewed by the market as a company of 150, 300, or even 1,000 employees, join forces with your peers in tech to experience the same leverage that tech industry giants benefit from. Sequoia has innovated the unique opportunity to partner with your peers in tech to bring more choice and richer benefits to your employees, minimize risk, and maximize rate stability.
A predictable future
When Sequoia’s relationships and experience join forces with you and your high-tech peers, you get enterprise-level service and pricing and a more predictable future in the face of healthcare reform. We have worked with high-tech companies big and small and understand the evolution of needs throughout a company’s lifecycle. Sequoia’s investment in data and the top tools and resources out there allow us to understand what you need before you get there.
The Sequoia Tech difference:
Silicon Valley DNA
We have a strong heritage serving the needs of high-tech companies in the Silicon Valley and the experts who know how to help your business thrive. Our network of high-tech companies soon becomes your network through our exclusive events and online communities.
Unprecedented implementation speed
Historically, implementing a new benefits or HR system for your company can take over 3 months. With Sequoia Tech, you complete the implementation of your benefits administration system in a short 3-4 weeks from the date you make your benefit plan decisions. The efficiency of Sequoia Tech doesn’t stop at implementation. File feeds are pre-tested and ready to send data straight to the carriers as you close out open enrollment. Never again waste months of your time testing file discrepancies and reporting data manually. Employee enrollments are turned around within a week, and member ID cards mailed out shortly thereafter.
Exclusive carrier relationships
Pooling together high-tech companies of similar risk profiles reduces the variables that carriers would typically use to raise rates. Carriers have chosen to partner with Sequoia in an exclusive capacity to bring quality benefits to high-tech companies. We’ve leveraged the changing landscape of healthcare reform and administrative efficiencies to provide you with incomparable value.
A relentless culture of service
Client relationships are built on trust, and Sequoia’s team works to build and maintain that trust by coming through for you and your employees with smart innovations that meet the needs of your company.
“We’ve worked with Sequoia since we were a brand new startup and still, as a 1000 employee global company, they have been a fantastic business partner for every stage of our growth. We couldn’t be happier with Sequoia.”
CHIEF EXECUTIVE OFFICER
Shaping the employment experience for the best and brightest workforces
Sequoia Tech carriers, plan designs, and perks are hand-picked to compete with the benefits offered by premier high-tech companies. The Sequoia team helps you implement systems and smart processes that streamline execution, minimize risk, and enable your company to focus on business objectives rather than administrative burdens.
Benchmarked Benefit Plans
A surefire way to win the war for talent is by nailing the employee experience. Take off your employer hat and think about what makes a difference to an employee. Understanding the benefits and resources that are available to you and feeling confident that your benefits are top of the line can be a key driver for employee satisfaction and loyalty. Sequoia Tech benefit plans were strategically selected after thorough benchmarking and analysis to compete with the very best companies in high tech. Sequoia’s pooling model and exclusive relationships with top-tier carriers means that you get a higher value for your dollar compared to traditional plans. Sequoia Tech program benefits include:
- A choice of ten medical plans including a combination of HMO,PPO, and EPO options
- Rich dental plans that cover major services such as implants and orthodontia
- Vision plans that belong to an expansive network
- Short-term and long-term disability coverage with the option of tax-choice
- Basic Life/AD&D in a variety of coverage levels
- The very best in optional Life coverage with no minimum participation requirements and high guarantee issue
- Employee assistance (EAP) and travel assistance programs at no additional charge
Word spreads fast in the high-tech community. Want to prove that your company’s focus on innovation extends beyond its technology? Elevate the employee experience by offering the kinds of perks your employees will be excited and proud to share with their friends and family. We’ve built a Sequoia Tech perks package that is unrivaled in the business. By leveraging the purchasing power of the Sequoia Tech network, we are able to secure top vendors to offer exclusivity, preferred access, and meaningful discounts to you and your employees. Maybe you want to promote better health, support financial goals, or simply introduce a little fun into the work-life monotony. Maybe you want to sponsor a program your employees already know about but never thought they could get through their employer. The possibilities are exciting. Some of our partners include:
- One Medical Group
- Rocket Lawyer
- Personal Capital
Innovative Wellbeing Programs
Developing a company culture that supports employee engagement and wellness has become the norm for high tech companies. Understanding what programs are right for your company and implementing them well is the challenge. First, Sequoia gives you the tools to transform how you utilize data and drive wellness investments. We pay for biometric screenings of your entire employee population, tracked by Milliman services, so that we can effectively compare the biometrics of your population to claims results. We also deliver innovative programs that bring key elements of wellbeing to your employees and instill a sense of community, purpose, and financial and physical health. Finally, the Sequoia Tech program designs and suggests a Wellbeing Calendar to take the guesswork out of developing a wellness program. Some of the carefully chosen wellbeing benefits include:
- Hosted sports nutrition and healthy holiday eating webinars
- Office wellness days including massages, juicing, yoga, and more
- On-site biometric screenings
- Fitbit wellness challenge
- Sponsored flu shots
- Financial budgeting tools and tips
Sequoia Tech Global Services
Sequoia realizes that today’s tech companies expand globally quicker than ever. Available exclusively to clients of the Sequoia Tech benefits program, Sequoia Tech Global Services offers a way to extend superior benefits to employees who live or work abroad and need different levels of coverage. The global program was designed with the same administrative support and high-end employee experience that you expect from the Sequoia Tech program. Features are tailored to the unique needs of technology companies and include:
- Cost containment by leveraging a pooling model to get access to preferred market pricing and competitive, guaranteed renewals
- Simplified procurement and administration of global benefits including online enrollment, consolidated billing, and streamlined quoting and plan placement
- Dedicated employee support including access to an elite provider network in over 180 countries, online and mobile tools for easy self-service, and 24×7 member services
HRIS Platform Flexibility
Gone are the days of paper enrollment forms and fax machines. Streamline business processes, gain transparency, eliminate paper, and improve the employee experience by putting a technically sound solution in place for your company. Sequoia Tech operates on three technology platforms so you can choose the system that works best for your company: Sequoia Tech Benefits Portal, ADP WorkforceNow, and Workday. No matter which system you use, Sequoia’s enterprise-grade data integration layer ensures that your HR data is optimized and secure. We are also committed to supporting your company’s growth and guiding you through transitions as your technology needs evolve.
Benefits Portal & Online Enrollment
Sequoia Tech’s software philosophy is to focus on functionality and win on service. Clients who choose to use the Sequoia Tech Benefits portal and open enrollment platform can benefit from the following unique features:
- Three week accelerated implementation timelines from executed paperwork to open enrollment
- Employee self-service benefit elections and qualifying event changes throughout the year
- Pre-tested and active carrier connection feeds, allowing for member IDs within days of open enrollment closing
- Access to numerous reports and custom report building to help you manage your data
- Integrations with numerous HRIS and payroll platforms, eliminating the need for duplicate data entry
Rich Analytics & Insights
There is little access to good data in healthcare, and data coordination is behind the times. This is one of the main reasons venture funding is pouring into the healthcare space in recent years, and one of the reasons Sequoia has heavily invested in our Sequoia Canopy technology platform. Sequoia is dedicated to bringing together information to drive understanding and action. We believe you should have access to your benefits program data considering it’s one of your largest ongoing expenses. Wouldn’t it be nice to know how the money you are spending on healthcare is benefiting your company? Thanks to the collective influence of the program, we are able to provide you with a level of data and insights on your benefits program that no other fully-insured program can provide.
- Find out how your claims compare to industry benchmarks
- Identify what parts of your employee population are taking advantage of preventive care
- Track company demographics and population trends over time
- Actually do something with your biometric screening results
- Evaluate when a transition to self-insurance is the right move
Reconciling benefits to ensure that new hires are accounted for and terminated employees are not is a tedious line-by-line job that is a top priority but often gets pushed to the bottom of the to-do list. Sequoia Tech takes this task off your plate entirely. Using a trusted online enrollment platform, Sequoia Tech provides an invoicing experience that drastically reduces administrative burden and the risk of costly mistakes to your organization.
- Online access to current and historical invoices, downloadable to excel for further data manipulation and review
- Monthly reconciliation and discrepancy resolution
- Single, consolidated monthly invoice of all insurance carriers with employee level drill-down
- Automatic monthly payment of premiums via one lump sum ACH debit, remitted to the carriers on your behalf
Sequoia understands that good compliance practices are a critical component in the administration of health and welfare benefits. Yet the injection of the Affordable Care Act (ACA) into the already-complicated landscape of regulatory requirements from the IRS and ERISA makes compliance that much more difficult to address for a growing business. Sequoia Tech is designed to help you stay ahead of the game. We offer the education, tools, and administrative support you need to simplify, streamline, and ensure you meet your obligations.
No-touch COBRA Administration
The compliance obligations that surround COBRA administration are complex and important pieces can very easily fall through the cracks. Even if you ensure notices are sent to employees in a timely manner and you’re meeting privacy laws, you may be mishandling the collection of COBRA premiums and reimbursements. Sequoia Tech uses a third party partner made up of experts in COBRA compliance and administration best practices so that you don’t have to lose sleep over it.
- Full integration with the online enrollment platform for seamless processing of COBRA activities
- Management of all initial rights notices, qualifying events notices, and annual open enrollment packets
- COBRA administration expertise that ensures compliance with emerging regulations and guidelines
- Included on carrier connection feeds for automatic processing of all enrollments, changes, and terminations
- Automated invoicing, premium payment collection, monthly reporting, and reimbursement to the employer
- Premium coordination with employer-defined severance packages
In addition to the expert administrative support you receive as a Sequoia Tech client, you also get a dedicated employee advocate whose sole purpose is to ensure a stellar employee benefits experience. Your advocate becomes an extension of your HR team, supporting your employees, answering their benefits questions, resolving claims issues, and freeing up your team to focus on other business priorities.
Training & Education
To foster a stellar employee experience, the Sequoia Tech team helps eliminate bottlenecks, streamline processes, and put information at the fingertips of your employees so they can be empowered by the investment you’ve made in them. No matter what it takes, we “show up” to educate and guide your employees with in-person training sessions and a proactive communication strategy.
High-Tech Community Engagement
Your tech company challenges conventional thinking. Well, so do your HR and Finance team members. They often exist on an island within your company, but they are impacting so many people in a positive way every day. Sequoia’s events have a track record of bringing together a community of respected leaders from top high tech companies who strive to improve the employee benefits and healthcare experience. Sequoia Tech nurtures a community through the following:
- Regular educational events
- Networking with peers in similar fast-pace, big-impact roles
- Annual benchmarking study to capture the latest and greatest trends