Forma
Flexible benefits that employees love. One platform. Ultimate flexibility.
Executive Summary
Forma is a flexible benefits platform that empowers companies to design and scale global benefits programs tailored to individual employee needs. It serves HR teams and employees by streamlining benefits administration and offering diverse spending accounts (LSA, HSA, FSA, HRA). The platform's key value lies in reducing administrative burden, cutting costs, and boosting employee satisfaction and retention through personalized, choice-driven benefits experiences.
Use Cases
- Designing and launching global flexible benefits programs tailored to diverse workforces.
- Administering various spending accounts, including Lifestyle Spending Accounts (LSA), Health Savings Accounts (HSA), Flexible Spending Accounts (FSA), and Health Reimbursement Arrangements (HRA).
- Streamlining employee benefits spending through multiple methods: a Forma Visa Card, direct purchases in the Forma Store, or claims reimbursement.
- Gaining real-time insights into benefits utilization, engagement, and program effectiveness for strategic decision-making.
- Ensuring global benefits compliance, localization, and adherence to regulatory standards across different regions.
- Reducing the administrative burden and manual tasks for HR teams associated with managing complex benefits programs.
Features
Visibility
- Real-time Analytics Dashboard: Provides HR teams with real-time data on program usage, engagement, and satisfaction, with intuitive filters for segmentation.
- Custom Report Builder: Allows benefits administrators to create and download custom reports from all available data in a self-serve portal.
- Transparent Claim Status: Employees receive clear notifications and updates on the status of their claims, including approval and reimbursement timelines.
Intelligence
- Personalized Employee Homepage: Offers a customized experience for each employee, showing relevant benefits and recommendations based on their profile.
- Curated Forma Store: The in-platform marketplace is curated to display only eligible products and services based on the employee's benefit parameters, often with discounts.
- Benefits Value Assessment Calculator: A proprietary tool used to analyze existing benefits programs, identify inefficiencies, and suggest strategic enhancements.
Support
- 24/7 Global Member Support: Employees can access support via phone, chat, or email around the clock, worldwide.
- Dedicated Customer Success Manager: Companies receive a dedicated CSM for proactive support, file discrepancy reviews, and quarterly business reviews.
- Compliance Guidance and Resources: Provides HR teams with resources and guidance on compliance, including non-discrimination testing.
Technical Specifications
- Architecture
- Cloud-native SaaS
- Deployment
- Cloud/SaaS
- Authentication
- SSO, MFA
- API Available
- Yes
- MCP Server
- No
Infrastructure
- AWS
AI/ML Stack
- Machine Learning
Integrations
- Workday
- BambooHR
- Rippling
- ADP
Security & Compliance
Certifications: SOC 2 Type II, GDPR, WCAG 2.1 certified
Encryption: AES-256 at rest, TLS 1.3 in transit
Data Residency:
Pricing
- Model
- Custom enterprise
- Starting Price
- Contact sales
- Target Customer
- Mid-market to Enterprise
- Contract Type
- Annual
- Free Trial
- No (credit card required)
About Forma
Forma is a life benefits platform that enables modern companies to design and scale flexible, global benefits programs. It offers customizable spending accounts such as Lifestyle Spending Accounts (LSA), Health Spending Accounts (HSA), Flexible Spending Accounts (FSA), and Health Reimbursement Arrangements (HRA) to provide employees with choice and flexibility in their benefits.