50 Best Companies to Watch 2023

We’re challenging the status quo and embracing innovation: Founder Nathan Udy on how Planstin Administration is creating better healthcare experiences and reducing costs


“We are also a leader in the industry for turnaround time for processing claims in a one to two-week period.”

Planstin Administration is a full-service third-party administrator for self-funded health benefits. It plays a crucial role in managing and administering benefit programs on behalf of employers. The company’s suite of products allows both employers and employees to receive excellent care, all while only paying for the benefits they use.

As a third-party administrator, Planstin handles various administrative tasks, such as claims processing, enrollment management, and customer support. This allows employers to focus more on growing their business and less on busy work.

In 2022, Planstin was recognized as one of the top Benefits Administration Services Companies by Manage HR for being at the forefront of tackling customer challenges.

The company was founded in 2016 and is headquartered in Saint George, Utah.

The Silicon Review reached out to Nathan Udy, founder and president of Planstin Administration, and here’s what he had to say.

Interview Highlights

Q. What circumstances or events led to the creation of Planstin Administration? Please brief us about the history so far.

As a young teenager, I was diagnosed with a rare and deadly cancer. Constant visits to doctors were soon my reality. Through this process, my parents became frustrated and disheartened with our health insurance experience. While I was fighting cancer, my parents were fighting insurance claim denials.

This experience left a lasting impression on me. When I began my career as an insurance broker, I gravitated toward helping those who found it difficult to find good healthcare options. They needed a simple way to get great benefits and get the care that they needed when they needed it.

I was looking to keep people from having the same types of experiences that my parents had while I battled cancer. Planstin was established as a step in that direction.

Moreover, during my career, I found that many companies had only parts of solutions for clients to efficiently manage risks and bring better healthcare options. This is also the reason why I set up Planstin Administration.

Q. What methodology does Planstin implement to exceed client expectations?

Our winning strategy revolves around creating better healthcare experiences and reducing costs. By combining expertise, streamlined processes, user-friendly solutions, and a genuinely caring approach, we strive to deliver exceptional service.

We save employers 40 to 60 percent in costs by allowing plans to be customized to fit the unique needs of each employer, so they only pay for the coverage they need.

We are also a leader in the industry for turnaround time for processing claims in a one to two-week period.

Q. How does Planstin revolutionize benefit administration and create innovative healthcare experiences?

As an insurance broker, I experienced firsthand how difficult it was for companies, employees, and their families to understand the complexities of the healthcare industry. That led me to create a humanized structure for Planstin, starting with our Member Services team. They are the front line for all questions about benefits, plans, and providers. We have made it a priority to keep them on-site with an average wait time of less than one minute for answering calls.

We understand that everyone needs health coverage; however, only a few have the time to learn and understand healthcare jargon. Using our expertise in benefits administration, our team can help employers and their employees understand what benefits are the best fit — saving money and time for everyone.

We combine our hands-on approach for members with technology solutions to provide our industry-leading turnaround times for claims processing. These examples are a small part of how we are challenging the status quo and embracing innovation.

Q. Can you introduce us to your services? What are their key features?

At Planstin, we believe in accessible, transparent, and affordable healthcare for all, so we offer a variety of plans and add-ons that can be customized to meet the individual demands of our clients.

Our benefits suite includes our flagship health plans, such as Preventive HSA and Copay Advanced, which cover preventive care at 100% and feature complimentary unlimited telemedicine, prescription savings, and discounted network service rates. These preventive plans allow clients to customize their benefits with an HSA or affordable copays for unlimited primary, specialist, and urgent care.

These preventive health plans are ideally paired with a HealthShare membership, another key product Planstin offers. This membership provides families with peace of mind, as it helps them effectively manage unforeseen medical expenses.

We also have a host of other quality products that can be mixed and matched to create the perfect fit for any business. These include dental, vision, occupational accident, mental wellness, 401(k), and more.

Q. Can you provide us with one or two success stories describing the challenges your clients faced and how Planstin helped them overcome those challenges?

A home healthcare company we worked with was having a challenging time keeping employees on the team to service the home healthcare patients that they had. And they contacted us for help.

We were able to remove all the barriers they experienced. This was a benefit to our clients because they were able to focus on their business while we set up their package. Our clients did not have to sacrifice too much of their valuable time managing paperwork and educating their employees.

We had regular meetings with the employees and new hires to make sure their needs were being taken care of.

With the benefits Planstin was able to offer, this employer found that they retained more employees, not only by giving them a paycheck but also helping provide healthcare solutions.

Q. What's the one thing you want Planstin to be known for?

We want to be your trusted partner in the healthcare space and make a positive difference in the lives of individuals and businesses alike.

Everyone deserves access to affordable and simple benefits.

Q. What new endeavors is Planstin currently undertaking?

Our up-and-coming products will allow us to be of service to companies of all sizes, particularly those looking for benefits that focus on full compliance with the Affordable Care Act.

In addition, Planstin has started a campaign to address the many needs of those who may be underserved or challenged in finding quality healthcare benefits.

The genesis of this campaign is to help nontraditional employee populations like workers in the trucking industry who have a unique set of healthcare needs with a simple and cost-effective way to obtain and maintain benefits by uniting for better buying power.

Nathan Udy | Founder & President

Nathan Udy started his first business in 2006 as an insurance broker. Since then, he has founded multiple successful companies in both the private and non-profit sectors. He optimizes success through visionary thinking and a strategic approach.

“As an insurance broker, I experienced firsthand how difficult it was for companies, employees, and their families to understand the complexities of the healthcare industry. That led me to create a humanized structure for Planstin, starting with our Member Services team.”