Benefits built for the future of work, and that work for your life
We believe using company benefits should be easier—as easy as paying for a coffee, where you tap your card and go. With Level, now it is.
Today, we’re announcing new ways to help people unlock more from their benefits—with Funds and the Level Card.
Funds: Bigger benefits that are easy to use
It’s not just work that’s changed, it’s people’s lifestyles. With Funds, employers can now offer a wide range of perks and stipends through Level. Categories that may jump to mind are things like food, fitness, and home office. But practically any category is possible: pets, childcare, online courses, charitable donations, and more. Our goal is to empower companies to offer the Funds that matter most to their teams.
Level Card: A single way to pay with your benefits
The Level Card makes it easier than ever to use benefits with a single way to pay. If you’re a member, the process is simple: When you want to use your benefits, pay with your Level Card and the money automatically gets pulled from the appropriate balance. This means you don’t have to spend money out of your own pocket or wait for reimbursements.
By bringing benefits together onto a single card and showing real-time information in a single app for the first time, Level empowers people to take full advantage of their benefits.
More freedom for members
The other day, one of our colleagues grabbed a coffee in the morning. She paid with her Level Card, using her Food Funds. Later that day, she went to the dentist for a standard cleaning. She checked the cost estimate in the Level App before arriving, confirmed she had plenty of money left in her Dental balance, and after her cleaning, she paid with her Level Card and left. That evening, she and a group of our NYC-based colleagues went to a Mets game and used their Level Cards to buy drinks, dinner and snacks. We set up a Fund for the Mets Game to ensure people could enjoy the game, completely on the company, without having to spend any of their own money or submit expense reports later.
More flexibility for employers
The unified experience works great for companies too. Now they have a single platform to offer their teams a growing range of perks, benefits and stipends.
From their dashboard, employers designate a specific balance for each category, which is automatically added to a member’s Level Card and visible in the Level App. Balances can be updated monthly, annually or on another cadence, offering companies a simple solution to show up for their teams as their needs evolve.
Funds can be offered on their own, or alongside Dental and Vision—our first benefits products, which take the guesswork and paperwork out of care. They include simple plans that cover 100% of care up to an annual max, flexible networks that give people freedom to see any provider, and the ability to see cost estimates before a visit.
Investment from and partnership with Visa
Last, but certainly not least, I’m thrilled to share that Visa invested in Level. In addition, we’ve also partnered with them to launch the Level Card, making benefits more accessible with a very simple payment experience. Visa shares our belief that the entire employee benefits experience needs to change, and together, we’re making great progress toward a future we want to see.
As Neal Kapur, Head of Visa Ventures, shares:
“Level is an example of how we invest in, and partner with, companies that are introducing new digital payment flows into areas historically dominated by check and ACH. Level is modernizing employee benefits, with digital solutions that bring transparency and ease-of-use to companies, employees, and providers."
The future of work is flexible. Your benefits should be too.
Since we started building Level, the world has changed. Work has too. Everything is different, including (but certainly not limited to) how we work, where we work, and where we live relative to where we work.
These changes have accelerated the need for a new approach to benefits—one that brings flexibility, clarity, unity, and ease to a previously limited, opaque, fragmented, and complex experience. I’m proud of our team and the work we are doing to imagine and build that new approach. It’s a privilege to be able to work on financial products that people depend on.
If this work sounds exciting, we’d love to hear from you. If you’re a people leader, executive, broker, or employee who wants to bring Level to your company, please get in touch.
If you want to work with us, we are hiring. We have expanded on our roots in NYC to also have hubs in San Francisco and Seattle, plus people working from home in lots of other cities. And, if we may say, we have great benefits.
