Switching careers or diving into entrepreneurship brings a pivotal question: How to manage health insurance? A staggering 26 million Americans found themselves uninsured in 2022. Beyond losing insurance, there’s the dilemma of what happens to your health savings account (HSA) and flexible spending account (FSA), crucial tools for managing pre-tax money for health expenses.
Yet, awareness about how to leverage HSAs and FSAs beyond doctor visits remains low. Enter Ami Kumordzie, a visionary tackling this issue head-on through her company, Sika Health. Sika Health isn’t just another health platform; it’s a revolution in the way we access and spend our health funds, spearheaded by a Black female physician turned entrepreneur.
Kumordzie’s journey from Ghana to a graduate of Stanford Medical School, and eventually forgoing residency for an MBA to tackle systemic healthcare financial issues, has led to the creation of Sika Health. This platform, through partnerships with brands like Attn Grace and Save the Milk, empowers users to spend their HSA/FSA funds more effectively, addressing a market that leaves billions unspent annually.
By reimagining the application of HSA/FSA funds on a wider range of medical expenses and introducing a user-friendly platform, Kumordzie’s Sika Health is tackling a dual-sided problem. Not only does it enable consumers to utilize their health funds fully, but it also opens up a new revenue stream for merchants. With a successful $6.2 million seed funding and a strong team of tech veterans, Sika Health is poised to transform how we perceive and utilize our health savings, impacting millions of lives.
