i'm so stoked about this guys this is uh such an important topic in something that i wish i would have had an hour to dive deep into you know years ago but um i'm gonna be going back out to the health insurance marketplace myself here this year so i'm anxiously waiting to hear what we're going to learn today from lexi and jess from catch they are the real experts here and i can't can't wait for them to share so um i'll introduce them here momentarily but again feel free to add questions in the chat as we go we'll call those forward and we'll answer them when we can we'll have time at the end we have a little bit of a presentation to share here but thanks for being here guys uh i'll start with lexi gervis who has been working with me to prepare this on behalf of catch uh lexi you want to say hello and talk a little bit about uh your role with catch sure hi everyone uh thank you so much for joining we're so excited to have you guys here i lead policy and partner engagement for catch so i work with our partners like jay to make sure the people that they work with know who we are and what we can do to help and then this is jess just if you want to intro yourself or hi everyone my name is jess little i'm the director of partnerships here at catch i'm also a licensed health insurance agent so really excited to be here to talk all things health insurance and open enrollment with you guys today uh super excited to get started yeah i got to say catch catch with the y combinator right yes a few years ago i remember seeing uh just like the list of companies that went through y combinator because i was really interested in startups at the time and i read the the kind of short pitch about catch and i was like holy crap it's actually happening somebody is actually tackling this product uh problem finally um so great company and i've watched your guys's growth over the last few years it's it's really phenomenal what you guys do so i'll turn it over to you lexi to to get us started feel free to share your screen and if you want to give an even deeper introduction into catch generally feel free uh meredith it is catch with a c c a t c h which you'll see at the bottom of the screen uh all right lexi i'll give it over to you awesome thank you so much jay and is everyone seeing the presentation up just making sure okay thanks jess yeah so i'm gonna kind of briefly take us through uh what it means to be an independent worker with respect to benefits and then i'm gonna hand it over to jess and she's gonna dive deep on health insurance and open enrollment and then as jay said we're gonna leave time for questions at the end because with health insurance there is often a lot of questions uh great so that's just to give you a sense of where we're going i'll start here so we all know that with standard w-2 employment your benefits are taken care of by your employer right so your employer gives you health insurance a 401k plan uh paid time off contributes to your unemployment and all of that stuff really gives you a sense of safety and security but unfortunately probably you guys know uh this often ends up tying people to jobs that they might not want because they don't want to lose their benefits right so often workers become tied to their benefits in this context of traditional work so if you decide to go out on your own like most of you have uh and kind of leave behind the sense of safety and security the benefits then become one of your biggest pain points right so instead of having an hr rep that can handle all this for you this really falls on your shoulders to figure out how to put together your benefit package and that includes everything from paying quarterly estimated taxes figuring out where to get health insurance how you can still save and invest in retirement when you don't have an employer contributing so big surprise that's where cash comes comes in we can help right so catch helps independents build a modern benefit package uh with health insurance retirement tax withholding savings all in one easy to use app of course i'm going to give you a kind of a quick overview of how it works so basically you pick your benefits and herecatch will give you personalized recommendations to help you figure out what benefits you need then you're going to link your bank and actually tell us where you earn income and that will enable you to set aside a percentage of each paycheck to put into your benefits and this kind of withholding will help you start to build your safety net and that's really it it's that simple so that's a kind of really brief overview of benefits a lot of which you already knew but kind of where catch comes into that um and now we're going to dive into health insurance which is everyone's favorite topic but we did want to start with kind of some good news right some quick facts about health insurance that actually are going to make it sound uh exciting for you so first of all if you are self-employed your premiums are actually tax deductible so that's something that a lot of independent workers don't know similarly when you enroll in health insurance you can also get dental and vision insurance so you can get that at the same time in terms of costs nine out of ten people actually qualify for tax credits to lower their monthly costs and this is particularly relevant this year with the american rescue plan that biden passed the tax subsidies were large and actually uh resulted in i think it was nine out of 10 people getting plans for 10 or less the fact the fact that i have there around 7 million that's from actually last year but this year we're seeing even greater tax subsidies so health insurance is really affordable and uh jess is going to dive into how it's possible to get it awesome thank you lexi just to take a step back too um oh perfect thank you so much as we talk about open enrollment i do want to highlight the dates specifically as open enrollment is right around the corner starting on monday november 1st so many of you may know open enrollment generally runs from november 1st through december 15th this year it is being extended to january 15th but keep in mind to get coverage starting january 1st you will need to be enrolled in a plan by december 15th of this year so just want to call out those dates as they are quickly approaching um and tapping in and talking a little bit more about the plans that you know catch offers um and and what that looks like so catch offers individual health insurance coverage um which is specific for you know people or families sold directly through the federal marketplace so you guys may know this as healthcare.gov you may be familiar um as we talk about the plans and what's actually covered it's important to note that these plans are essential health benefits that are actually covered here up on the screen so as you look at the specific um you know plans they are covering you know ambulatory patient services emergency services hospitalization maternity and newborn care mental health and substance use disorder services prescription drugs rehabilitative you guys can of course read this as well a laboratory and we're happy to share this too preventative and wellness services and pediatric services so super critical for us to call this out because not all plans off exchange so outside of the federal or state marketplaces cover these essential health benefits so that's important to call out i think someone chatted in specifically asking around state marketplaces and specifically around california catch does um enable individuals to shop and apply and enroll uh through california through our products so you can even though it's a state exchange you can go through the california flow through the catch product and we'll talk a little bit more about that in the next few slides real quick jess just uh something that um i wanted to clarify for folks in case they're wondering if i'm thinking about if i'm familiar with the healthcare.gov marketplace um is the are the plans on catch the same plans or different like am i making a one or the other decision if i go through cash they are the exact same plans um what we're offering it's the exact same price as what you will be seeing through healthcare.gov as well we are serving up those tax subsidies so you will know if you qualify for additional savings through our product the overall benefit you know here is tapping into catch's entire product right so you may be accessing additional benefits through catch and we're able to certainly have that one stop shop for you so you're able to go through the whole flow rather than just going to you know healthcare.gov and then maybe tapping into someone like catch just for tax withholding or anything like that i will also say the healthcare.gov website as a user this is my opinion just as a user it's not great it's like a government website so being able to parse through that information through an interface that was designed to be used by people is is very helpful yes and uh yes certainly and and we make it easy and it's a very uh fast and seamless process of being able to just shop those plans apply and enroll um you know less than 10 minutes or so awesome so as we think about picking the right type of plan and overall just like network coverage um you guys have may you know i've heard you know hmo ppo epo like what are all these different plan types and start to think about it so um whenever you think about needing care you generally think about needing to actually choose a doctor right and thinking about in-network doctors versus out-of-network doctors like what does that actually look like um so depending on the health insurance plan that you choose you may or may not require to you know choose doctors who are actually in network versus um at a network and overall how much you're you know paying right no problem um so as we think about hmo plans um so the health maintenance organization plans these plans give you access to certain doctors and hospitals within a specific network so typically the care is only covered if you see a provider within that hmo you know network and generally these plans won't cover out-of-network care unless it's an emergency as we look at ppo plans ppo plans are the preferred provider organization plans this is typically still the most popular choice by the masses typically ppo you tend to have higher premiums than an hmo or a pos plan but you can access specialists or out-of-network doctors without needing a referral so typically that's why you'll see folks tapping into the ppo plan again the overall cost uh you know up front maybe a bit more but you have more flexibility epo similar to an hmo so exclusive provider organization plan um an epo is managed care plan where services are covered only if your doctors or specialists or hospitals in that plan network um you know are are essentially within that network so you'll want to ensure that your doctors right are covered there um and uh real real quick jess um i have a podcast so i'm an audio nerd uh because you're using your computer microphone when you move your computer we hear shuffling so just try to keep it really stationary yeah um perfect and then uh as we look at the uh you know pos so point of service plan um so it's basically a combination of you know your hmo and ppo um and then typically you're able to see you know providers within a larger network and choose your primary care provider but you can also use you know specialists within you know the out of network but again it may you know be higher uh price point in in that regards and then the last point here calling out high deductible health plans um now high deductible health plans um you know certainly can be in the form of an hmo ppo you know epo or a pos we want to call those out because specifically if you have a high deductible health plan you may be interested in a health savings account where you can actually set aside funds tax-free that can go towards health expenses so that's important to note specifically if um you know there's interest there um of certainly having that health savings account in addition to help pay for you know additional expenses if i'm looking at these five acronyms right now and i'm saying gosh i don't know which one that i need how would you recommend i filter when i decide like what type of plan is for me in the process of enrollment certainly so and we'll walk through how that actually works with our product too in a few more slides um but generally what you're you know looking at is typically for individuals it's understanding how often you're going you know to to the doctors and what those needs may look like um especially for you know a ppo being the you know most expensive from a monthly premium standpoint are you frequently visiting your doctor needing to go to specialist are you traveling for work a lot and may need to you know go to you know a specific you know visit on the road anything like that like that's how you start to think about um you know certainly the types of plans you may need and then of course if you already have specific positions that you are tied to you want to continue to see them you of course want to ensure that they're actually taking um that insurance plan that you are considering where most folks are looking at that information when deciding on selecting a specific plan you know through catch and we do enable them to you know search their doctor's names and whether they are actually um you know a provider that's within that network great now the next piece of picking that plan just to make it a little more complicated is of course looking at the various different metal tiers um so plans are categorized by metal tiers um and that indicates the average amount of healthcare costs covered under each plan so again starting from bronze and working our way to platinum you're looking at the lowest premium to the highest premium costs right and then that also of course coincides with the highest cost of care versus the lowest cost in care so as we look at a bronze plan you know this may be an individual you know and this is a good choice for them if they're honestly they're not going to the doctor right they really just want coverage in case um you know something major is going to happen sickness illness anything like that that individual may select to choose you know to have that lower monthly premium and that higher cost at the end of the day so again kind of based on the individual's risk as you look at you know silver and gold and platinum it's the same again it's just how much are you ultimately willing to pay up front on a monthly basis depending on how much care you may need or if something happens you know again having that overall coverage am i right in assuming jess that when i'm talking about cost of care the the biggest drivers of that being like deductible and co-pays about that yep exactly that's right um so again and we'll talk about that i think that's on the next slide lexi as we look at um thank you perfect as you look at what individuals are actually paying right and and what all of these various different terms mean uh we've been throwing out the word premium quite a bit um i feel like probably most folks on the call know what we're referring to in regards to that monthly premium but that is the cost that you are essentially paying to have access to your health insurance right so um you know that could be three hundred dollars a month six hundred dollars a month you know a hundred dollars whatever that amount may be that is what you are paying each and every month to have access to use your health insurance um you certainly uh want to ensure that you're paying that month over month you don't want to have a lapse in coverage where you're no longer you know insured um so that is what that premium is as we look at deductible so that is the amount that you are paying for um covered health uh care services before your health plan starts actually you know sharing that cost so as we look at and we'll show an example of that plan you know an individual could have a deductible of thirty five hundred dollars five thousand dollars a family could have a deductible of you know eighty five hundred or ten thousand whatever that amount may be and that's the amount that you essentially need to pay before your health insurance carrier is going to start sharing some of that cost so that is the deductible again as you look at the tears right typically that bronze is going to have the higher deductible versus the platinum who may have that lower deductible as we look at coinsurance which is on this screen here that is the portion you pay for covered healthcare after you meet your deductibles so um typically what you will see from the health insurance provider they're paying around that 80 and you're responsible for 20 um so again that is the coinsurance piece that comes in after that deductible is meant copay you may be familiar um with this term that's essentially that fixed amount that you are paying for a specific service of visiting your doctor right or um you know getting a prescription drug so on your insurance card you'll see that visiting your primary care doctor may be 30 and visiting a specialist could be 40 or 45 that is the amount that you are paying for that service and then out of pocket max that is the maximum amount that you could possibly spend on medical expenses each year for some plans you may see that the deductible and out of pocket max could be one in the same or the out-of-pocket max may be higher than your deductible um so a lot of different terms there that were that we're throwing out but hopefully um it'll help once we show some examples too of what this looks like this is this is really useful um on that same slide lexi on the uh out of pocket max the way that interfaces with coinsurance would it be true that let's say i hit my deductible uh it's not the same as my out of pocket max i have to pay something through co-insurance for coverage but if my co-insurance hits that out of pocket max does co-insurance then stop that's right that's right and then again not all plans have coinsurance either uh you know attacked them so uh yeah of course it does vary unfortunately uh we don't make it easy yeah but it's useful to understand the deductible versus out-of-pocket max things because when you're comparing plans this is something i've really looked at very closely in the past because to me like out of pocket max is kind of like what's the worst case scenario like let's assume some catastrophe happens to me this year where what is the worst case of what i would pay because i'm coveraged in that out of pocket max it's helpful especially if you are someone who's healthy and you're thinking like i might go lower in the bronze or silver metal metal tier you know you're playing with a little bit of risk and this kind of quantifies that level of risk that's right awesome great so now as we dive in to talk a little bit more about what does this actually look like um when uh utilizing and using the catch product so as we've been um you know talking about over the last you know 20 minutes or so you have the opportunity to explore health plans with catch and then move forward and apply and enroll in those in that specific plan that you're interested in so we first want to kind of talk about what does it look like to actually explore these plans that are available specifically um in your location so we have a very simple explorer where you're just entering information specific to your zip code your total household income and who needs coverage um so who needs coverage could just be you you may have a spouse or you know dependents that you may be adding to that as well once you enter that information we're going to be able to serve up how many plans are available within your specific region and then what do the cost of those plans actually look like so here you're seeing a few screenshots of what our public health explorer looks like again you can just go to and we'll show you the website um that you can just go to the landing page and enter this information and see what types of plans you may qualify for and what those tax subsidies may look like as well at that point you'll be able to look into any individual plan so again going through what we just discussed you can start to fill by metal tiers you can start to filter by plan types do you want to enter in specific um you know positions that you you know are are seeing to see what plans are covered there and then you can start to look at the various different you know deductibles again and comparing that to the overall premium price and all the different things that we've been discussing and under each plan you'll be able to see you know certainly what's covered and what additional you know costs may come into play so you can see that under each and every plan and start to compare those and once you find one that you're interested in moving forward with you can then move through the process of actually applying and then enrolling into that plan great lexi did you want to take this one oh sure yeah i think at this point this is kind of um just a wrap up of everything right so all of this stuff can be done through catch window shopping is started october 15th and it's going to be going right up until open enrollment so as jeff said at the top open enrollment starts november 1st so that is when the marketplace will open and that's when you'll actually be able to enroll in a plan so you right now you can take a look and play around and we'll actually if you go through and you find a plan you like we'll save the plan for you and our product and then we'll let you know on november 1st that now it's time to come back in and enroll but if you do log in starting november 1st you'll be able to apply directly also this date here that just had mentioned to get coverage that starts on january 1st you'll need to still enroll by december 15th so we have this kind of six week period where the marketplace is open and you'll be able to enroll for coverage that starts at the beginning of the new year question for you lexi is there any um is there anything we need to know in terms of who is eligible for open enrollment sure so in regards to who is eligible for open enrollment um the open enrollment period any individual is eligible to enroll in in health insurance during that time so you do not need to have any qualifying life events like what you would need to have outside of open enrollment that would be you know getting married moving states having a child losing employment those would be qualifying life events that would need to happen for you to be eligible to enroll in a plan outside of open enrollment but during open enrollment um anyone is eligible to go through the process of you know shopping applying and enrolling um into into a health plan one other thing i did forget to mention um in regards to the catch product let's say some of you on this call already have a plan through the federal marketplace and you're interested in actually keeping that plan you have no interest in you know selecting a different one or anything like that you can actually re renew your plan through catch as well so you have the ability to link that existing health plan through catch um you of course can shop and then look at you know different plans as well but if you decide that you want to stay with that plan you can renew your plan directly through catch um so there certainly is a benefit of doing that as well because then you'll have all of your benefits in one place and you're you know of course able to then go through the process of renewing that plan year over year um all within catch we had a question here in the chat from uh brianna does resignation does leaving your job qualify as losing a job uh in the life event outside of opening during the qualifying life event yes certainly so um in that case right so you as the individual then would need health insurance so typically you have the option you know to go on to your cobra insurance with your former employer or to seek insurance on your own and you would be able to um yes uh what if somebody is you know open enrollment is november through december 15th to get coverage for january 1st if i'm sitting here and i'm uh maybe i'm employed but i'm thinking you know i want to go out on my own next year maybe even as early as january do i need to wait until i'm no longer covered by an employer to do open enrollment yes so at that point if you were to go through open enrollment you would have to state that you had coverage from your employer which then wouldn't allow you to be eligible um so you would need to wait well that's a lot of ground guys we covered a lot of acronyms and tiering and different things like that um i'd love to go back uh while we're doing questions here and feel free everybody to leave more questions in the chat or if you wanted to come on screen and share it you can use the raise hand function under reactions at the bottom of the zoom window but we'd love to take some more questions lexi if we go back to the screenshots of what the catch product look like looked like uh yeah exactly this is just so much nicer than the healthcare marketplace site even just like you know the color coding we see here you lay out here's your deductible here's your premium here's the uh the metal tier and the type of plan it's just so helpful when comparing across a bunch of plants because if you haven't done this before and you're going in here and you're looking at a bunch of plants you're probably gonna look at a bunch of plants you're gonna see okay here's you know as many as a dozen that may seem like they fit me how do i compare these and i think the the catch um interface really is helpful in helping you make some quick comparisons and assessments certainly and and it's super helpful as well as you start to see the various different subsidies that you may qualify for and starting to kind of look at the differences there and of course this is just the explorer portion so as you get deeper into the flow of going through the application and enrolling um it's a very seamless experience and uh yeah very easy to get through john asks a question in reverse if if he's enrolled via a health exchange or open marketplace uh plan and then accepts an employment position what's an employer subsidized health coverage yeah is that a qualifying event to stop the exchange coverage yeah so the exchange coverage then would stop um so you would no longer need that coverage you would stop paying for that plan if you are now on your employer's plan exactly so you wouldn't be double insured if you will and with the extension of the open enrollment period i'm assuming that if i were to enroll from january 1st through january 15th my coverage would start february 1st that's correct right that's correct and then any time outside of open enrollment it's always the first of every month is when yeah the coverage would start we have a couple more questions i'll get to here uh in a second but something else that came to mind and one of the first slides we talked about nine out of ten people were experiencing very low premiums through the exchange this year what's what is it about the 10th person out of 10 that may not put them in this bucket for lower monthly costs that's a great question lexi do you sure yeah i think that's just based on people that are still earning a high enough income that they're not falling within that bucket that would qualify for tax credits so the assumption by the government then is that you're making enough to actually be able to afford the health insurance on your own and kind of don't need these tax subsidies to help make up that difference but that's particularly high earners yeah yeah so subsidies are mostly uh granted and measured by your and this is probably self-reported projected income correct that's right that's right um but again you want to ensure that you know you're you're certainly close uh because you don't want to end up having to pay right at the end of the year which again the benefit of catch and and what we certainly can help individuals with especially if you've been using our product over time is we know what you've been earning uh we know like what your projected like income is so we are able to help you understand that when going through the application enrollment process because you may think that you're going to be earning 55 000 and we're like actually it looks like you're more around 48 000 right or whatever that amount may be so um yes that is the difficult part certainly um when being able to yes project your total household income and this is important if you've never done this process before i've seen a lot of freelancers make this mistake where they go into the healthcare marketplace and they see that their subsidy is calculated by the projected income they place in there and they think that they're gaming the system by projecting it low to get a high subsidy and then they realize after tax time that oh that's actually measured and tracked and uh you know accounted for and if you do not match that projection they will retroactively calculate what your subsidy should have been and if they gave you more subsidy than it should have been you are liable to pay that back which is a nasty little surprise at the end of the year if you weren't planning for it so it's definitely worth having a good estimate or overestimating even your income to get a little bit of a return that's right andrea asked is there a particularly high earner like quantification or range that you're aware of yeah so as you look at overall subsidies um you know typically as an individual it's earning less than 60 000 um a year as a family um i think it's more around the 100 000 or so a mark we could definitely follow up um on that but again it does vary depending on state as well as you're you know entering that information so again it's very transparent when going through our health explorer what you're looking at and as long as that estimated household income pulls through all the way through the application that subsidy will be or will not be granted depending if you qualify or not we have some related questions here about the other benefits of cash outside of the health insurance side of things andrea asks you mentioned other benefits of catch aside from health insurance could you expound on that subject some more please and heather also asks what is the advantage actually we'll we'll answer andrea's question first then we'll go together certainly so as lexi mentioned a little bit earlier on and during the presentation um so additional benefits that catch offers um so the number one uh benefit that folks are generally tapping into is our tax withholding and tax payments product um so again that's enabling you as you know a 1099 earner to set aside taxes off of each and every paycheck that you are receiving automatically and we will pay the irs directly for you on a quarterly basis so again you know folks are using that to ensure those funds are just being set aside for them and they're not going to have any surprises at the end of the year where they're going to have a large tax bill that they need to pay so the tax withholding and tax payments uh feature within catch um is is number one the next one is uh retirement so we enable individuals to um tap into either a roth or traditional ira through our product we offer three standard portfolios just based off of risk you can set aside what percent you want to set uh you know towards your retirement account and we'll move those funds again off of each and every paycheck that you're receiving again you have full control over you know when funds are being set aside to your benefits but it's great practice just to get in you know to automatically just having it set aside and then we have a variety of different um savings benefits too as you look at emergency savings health expenses um and so on and so forth that you can set aside for that's so helpful there's just so much benefit to the out of sight out of mind when you know what your different like savings buckets and metrics should be and just having a system that does it for you i didn't realize that you guys actually shipped that off then to the irs quarterly too because a lot of people forget about their quarterly taxes is there guidance within the app to help you identify like what these percentage breakdowns or buckets should be yeah great question um certainly so during our onboarding process we ask a handful around eight to ten different questions about you as the individual to help serve up those specific recommendations so um with taxes of course that's all based off of your you know um 1099 you know income that you're bringing in for the year you'll let us know what that looks like of course if you're filing you know single married anything like that have dependents and then we will serve up that recommendation for you um and then of course you can gross up gross down still dependent on you know what you would like to do but most folks are taking that recommendation setting aside those funds paying those quarterly taxes and again no end of year surprises um so yeah it's super seamless john asked does catch also handle state or local estimated taxes great question uh so as of today it's just federal uh that we are handling uh so state and um you know local individuals are handling that on their own um we had a good question from heather uh she wanted some more clarification around the advantage of catch over using the healthcare.gov marketplace are there additional costs to using the catch interface versus healthcare.gov yeah so definitely no additional costs um so both platforms are free to use to you know enroll in health insurance um the benefits here is certainly the one-stop shop approach that catch has come you know together and offering a variety of different benefits on you know the financial service side and health insurance so most individuals um certainly may come in and get health insurance through catch and then they start to you know obviously set up their plan across taxes or retirement and everything in between so the benefit there is certainly as we mentioned a little bit earlier is being able to have visibility into your overall income right and in what you're setting aside for we can help you better understand if you may qualify for subsidies you know at a certain point if you do have any life changes um you'll be able to let catch know and we can tell you here are the three things that you need to do to update your profile across the board and we'll help you do that automatically so again instead of having um you know multiple things living across the board you just have one one app that you use to handle all of this for you what's the model for these other benefits is there like a percentage we pay to access these different uh types of withholdings sure yeah happy to walk through that so um as of today it's uh it's an all-cart model so essentially if you want us to automatically set aside all of your funds towards the different benefits that you have set up um you're paying a dollar a month for us to do that if you want to manually uh set those funds aside then you're just going in and doing it on your own and we don't charge for that most folks are utilizing our automation because they don't want a dollar a month a dollar a month so that's what they're doing um yeah exactly uh for tax payments we also do charge a fee to make those quarterly tax payments but again that's just coming out of you know their tax withholding bucket um so users are gladly handing that off right for us to do that and that's ten dollars a quarter um so that fee is just coming right out of the tax withholding um and in regards to uh retirement uh so we do charge a two dollar per month um if your account is under forty eight hundred dollars so that's the floor um but once you surpass that um then it's a half a percent a year that we're earning um off of so again very minimal costs across the board um for health insurance we do not charge at all you're just paying your monthly premium nya asked a little bit ago and sorry if i'm mispronouncing her name she says she struggles with income verification um for covered california since it differs throughout the year she's wondering how is income verification handled with catch yeah certainly um great question um and so you know i i hear you uh specifically with you know income being volatile right throughout the year um and being able to um verify that that amount um as you're going through the the health application um you know typically with catch you're able to see you know your your total earnings right like we have all of that data and information and individuals are plugging that information into their health application um knowing what they've earned and what they project to earn um we of course do assist if individuals are having issues you know with that verification and they need to upload supporting documents that's generally what happens where you may need to support you know additional um you know invoices or previous tax uh filing or anything like that we do support you know certainly uploading those documents and helping individuals um you know navigate through um that portion but unfortunately that is just part of you know the the government needing to verify um certainly with distributing tax subsidies so we still follow this exact same process and help um you know our end user certainly um with sub um you know supplying those supporting documents and everything like that um so hopefully that helps answer um you know the question unfortunately some folks just may run into that and we do the best that we can of course to assist and make sure that like they get approval everything is good to go um and making that hopefully much easier then you know certainly healthcare.gov or the state marketplaces on that front and i'll just add to that jess um just so you know when you do need help it's really easy to get it you just chat in all of our customer support team are licensed agents and they can walk they can hold your hand through the process of of uploading the documents or income verification and we're available for that meredith asked how do you find out if you qualify for and take advantage of tax subsidies and health insurance so as you go through the process how do you know what you're qualified for and how do you apply that yep so again going back to the health explorer where we showed a few of those screenshots so i know that freelancing school has their own dedicated landing page you can literally just go to that page enter you know your zip code enter your household income enter who needs coverage so if it's just yourself and your age you'll be able to see what potential subsidies you qualify for right then and there so you will know if you qualify for let's say you know uh 90 off of a plan 200 off a plan whatever that may be you are going to know right away prior to moving forward now in regards to everything being completely finalized right and being able to apply those subsidies that's going to be through the health application and enrollment process so when you go through your health application at that point um you are submitting information confirming your income and that is being verified and validated um to ensure that that is of course matching up to previous you know tax filing anything like that and at that point you will then be approved so your eligibility will be approved and your final subsidies will be approved at that point and then when you enroll so finalizing and selecting that plan it'll automatically be applied um at that point uh so during the explorer portion you will see um you know potential savings right and it's the application piece of when everything is being uh verified um and then it'll automatically be applied to those plans that plan lexi could you go back to that slide that we were just on that had the benefits outside of health insurance taxes and everything um so for everyone here live and everyone who watches this later i took a whole bunch of time uh almost two years ago to put a profit first system in place for my business which was really just because i wanted to like save enough money for taxes that was like the biggest driver for why i did that um and other things like retirement as well it was a pretty big lift but it's been a game changer and this seems like a much simpler version of that it's a little lighter weight there's some things that i made accounts for so my question was can i create other buckets here outside of the ones listed can i create like custom buckets you can yes so we do have custom goals um so you can create as many as you would like you can tie specific uh you know deadlines that you want to hit that goal um you can add icons you can name it whatever you want uh yes you see folks creating all kinds of different goals i have a college fund for my daughter like set up that i'm putting funds towards you'll see some folks have like back taxes like they're setting aside for you know taxes from 2019 that they may own or they're setting aside you know for new equipment that they want to buy whatever it may be um yes you can put together any custom savings goal that you'd like that's so helpful and so when i choose like on the right hand side here with this screenshot from stripe when i choose how much i'm dedicating from each like literally each dollar you know you can think about this if you're looking at this every dollar you can say what percentage of that am i going to put towards different things when catch withholds that that goes into a catch account somewhere that's right yes so bank account that's right it's a catch bank account um that you will have access to throughout the catch product so you can deposit withdraw as often as you want out of that account um and that is where essentially the funds will come out of your linked bank account and go into your catch account and distribute it across your various different benefits and then you of course can withdraw those funds at any given point um you know when they're available um outside of retirement your retirement account that is an investment account so the process to pull those funds out um you know would uh be the same as if you were withdrawing you know from an ira or 401k and what's the speed like for uh withdrawing specifically if i want to pull out of that because i have something happen um how quickly will that go from the catch account to my bank account yep so typical ach process again every single bank is a little different right we see anywhere from one to three days on that front um so yeah typical uh yeah one to three business days i had you guys come in to talk about health insurance but this all of this savings you know is so useful like i said i took so much time and so much effort to create these buckets for myself for profit first and i bank with chase chase charges per checking account it's a pretty big pain uh so if you're looking at this this looks like a really great solution and way for you to ensure that you're saving enough for taxes that you're saving towards your retirement that you're saving towards any other goal that you want um really really impressed by this and i think it's a great addition to the whole platform thank you brianna asks can you use this account feature even if you don't need health insurance benefits certainly um you know you can still use catch if you're just interested in setting up certain you know savings goals um you know generally folks are you know activating you know taxes retirement or health insurance but you can certainly still use cash um you know across the board and if anything ever changes you can always add benefits to as as you go so yes you can certainly still use the product so great i'll sell here just for a moment longer in case anybody has any last minute burning questions they want to put in the chat but you can see here on the screen this is the landing page that we have set up through freelancing school with catch um i used the product before i was an affiliate of the product even if you just use the health insurance product that's not going to cost you anything so truly truly i'm recommending this because i think it's an incredible product and you will benefit from it in in many many ways i will be using it for my own open enrollment uh uh purposes this uh this month so um i'll let you guys know how my experience goes but that is the landing page if you need it um and if you do want to use catch and you use that that link you'll be supporting me and the community so it's a win-win for everybody all right uh lexi jess any last words for folks anything on your end lexi no no we're we're just excited to be here and to support what you guys are doing so thank you so much for having us yes thank you amazing a lot of fun amazing thanks for uh walking us through all of this excited to use this recording um throughout all the education i do here at freelancing school so thanks everybody who joined live hopefully you got all of your questions answered hopefully you enjoyed it uh i will have it live in the community if you're not a part of the freelancing school community yet just go to community.freelancing.school and you can join that for free and i'll be talking to you guys soon awesome thank you