Stride and Roadie Partner to Empower Drivers with Financial Tools
Stride and Roadie, a UPS company, have partnered to offer financial tools to independent drivers nationwide. This collaboration will provide drivers with access to Stride's portable benefits platform, including health, dental, and vision insurance, as well as tax and financial planning tools. The partnership aims to address challenges faced by independent workers, such as managing insurance and maximizing savings. With Stride's support, drivers can access personalized plan recommendations and unbiased advisors to choose the best insurance plan. Stride's initiatives have already helped workers save billions on taxes and insurance premiums. The partnership also provides mileage, expense, and income tracking tools through the free Stride app, simplifying tax processes and offering significant savings.
- Stride and Roadie partnership offers comprehensive support for independent drivers.
- Drivers gain access to health, dental, and vision insurance through Stride's platform.
- Tax and financial planning tools included, addressing key challenges for independent workers.
- Stride's services have helped workers save over $5 billion since its launch.
- Drivers can save an average of $710 per year through Stride's tax process simplification.
- The partnership includes personalized insurance plan recommendations and unbiased advisors.
- More than 30% of independent workers can pay less than $1 per month for qualified health insurance.
- Only 32% of independent workers receive health insurance from employers or unions, highlighting a significant gap.
Insights
The collaboration between Stride and Roadie is poised to support independent drivers with valuable financial tools and insurance options. This partnership can have significant implications for the earnings and expenses of drivers associated with the Roadie platform, potentially enhancing their financial stability and overall well-being.
Independent workers often face challenges in obtaining comprehensive insurance and managing their taxes efficiently. By offering affordable health, dental and vision insurance along with tax and financial planning tools, this partnership can lead to notable cost savings for drivers. According to the information provided, drivers save an average of
From an investor's perspective, this partnership can also positively impact Roadie's value proposition. Providing such benefits can attract and retain more drivers on the platform, increasing the supply of labor and potentially improving service quality. This, in turn, could lead to higher customer satisfaction and repeat business, positively influencing Roadie's revenue and growth prospects.
Similarly, for Stride, this partnership increases its market penetration and user base, potentially leading to higher revenues from its service offerings. Additionally, being an official partner of HealthCare.gov boosts Stride's credibility and trustworthiness in the market.
In the short term, investors might see improved user engagement and retention metrics for Roadie, while in the long term, this collaboration could contribute to sustainable growth and profitability for both companies.
The partnership between Stride and Roadie addresses a significant gap in the gig economy workforce—access to affordable benefits and financial tools. The gig economy is rapidly expanding, with more workers seeking flexible job opportunities that traditional employment cannot provide. However, the lack of benefits has been a major drawback for many workers.
Stride’s comprehensive benefits platform, including health, dental and vision coverage, as well as tax and financial planning tools, can significantly enhance the attractiveness of working with Roadie. This move aligns with broader industry trends, where companies are increasingly investing in portable benefits to support their independent workforce. This indicates a growing recognition of the needs of gig workers and a shift towards more sustainable and supportive employment models in the gig economy.
For retail investors, understanding this trend is crucial. As more companies adopt similar strategies to support their gig workforce, those that provide robust benefits packages could gain a competitive edge. Investors should monitor how this partnership influences driver retention and satisfaction, as positive outcomes could set a precedent for other gig economy companies.
In the short term, this partnership may lead to an influx of drivers to Roadie's platform, seeking the benefits offered by Stride. Long-term implications include a potential industry shift towards standardizing benefits for gig workers, which could improve the overall stability and sustainability of the gig economy.
The Roadie driver community will now have access to Stride's all-in-one toolkit built to support the health and financial well-being of independent workers
"At Stride, we have been serving the delivery industry for years and deeply understand their unique needs around taxes and insurance. We are excited to serve Roadie drivers," said Noah Lang, Co-Founder and CEO of Stride. "Roadie and Stride's partnership represents our commitment to ensuring that every independent worker has access to the essential benefits they need to thrive in today's economy. By joining forces, we're not only empowering drivers using Roadie with affordable healthcare coverage and valuable tax and financial tools but also fostering a stronger and more resilient independent workforce."
Through the partnership, drivers who use the Roadie platform will have access to Stride's comprehensive portable benefits platform, including affordable insurance coverage — health, dental and vision — and tax and financial planning tools. As an official partner of HealthCare.gov, Stride simplifies the process of choosing insurance by providing access to the same affordable health plans with the added support of personalized plan recommendations and unbiased advisors to ensure drivers who use the Roadie app get the best plan for their needs and budget. Only
In Roadie's recent study, 2024 State of the Side Hustle Survey, over
"We know Roadie drivers value their independence and care a lot about flexibility. They're their own bosses and they want to feel like it," said Marc Gorlin, Founder and CEO of Roadie. "Historically, that independence has come at a cost: the benefits that usually come with a nine-to-five. This partnership helps to bridge that gap. Through Stride's comprehensive benefits platform, drivers can now access essential coverage and sophisticated tools tailored to their unique needs as gig economy workers."
Through the partnership with Stride, the Roadie community of drivers will have the resources and support they need to thrive in the independent economy. For more information about Stride and Roadie, please visit https://roadie.stridehealth.com/
About Stride:
Stride simplifies the complexities of being an independent worker by creating a modern benefits system for individuals — regardless of their employment status — that they can take with them and to which companies can contribute but do not control. Stride is the first portable benefits platform specifically designed for the nearly 60 million American independent workers who do not receive employer-based benefits. The Stride platform offers access to insurance — health, dental, vision, life, and other supplemental insurance — as well as financial tools to track income, mileage, and other deductible expenses to manage their tax obligations, all via a single app. Since launching in 2014, Stride has helped more than 4 million workers save more than
Stride is partnered with over 100 organizations, including with the world's leading work platforms, employers and service providers of non-benefited workers, such as Uber, Amazon, DoorDash, Instacart, Grubhub, Patreon, Care.com, Gusto, Gopuff, TaskRabbit, Recording Academy, ShiftKey and more so they can provide their workers with access to a full marketplace of health and wealth benefits. The company is backed by
About Roadie
Roadie, a UPS Company, is a logistics management and crowdsourced delivery platform. Founded in 2014, Roadie offers businesses fast, flexible, and asset-light logistics solutions for last-mile delivery. Roadie enables local delivery to more than
Roadie's solutions include local same-day pickup and delivery, delivery from warehouses with in-house sortation, oversized delivery, sustainable delivery, returns, and more. For more information, visit www.roadie.com.
Media Contacts:
For Stride:
Meg Sloan
meg.sloan@stridehealth.com
For Roadie:
Katie Vroom
kvroom@gregoryfca.com
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SOURCE Stride Health
FAQ
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