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Forma Reviews & Product Details - Page 16

Forma Overview

What is Forma?

Companies spend millions annually on employee benefits that employees neither value nor regularly use. Founded in 2017, Forma set out to build a better model by challenging traditional one-size-fits-all approaches. Forma’s flexible benefits software helps companies offer competitive benefits packages while reducing costs and inefficiencies, by giving employees more choice and flexibility in how they spend their benefit allowances. The platform also saves HR professionals countless hours managing and supporting various point solutions. Using Forma, companies can select from a suite of products that include Lifestyle Spending Accounts, Health Spending Accounts, Health Reimbursement Arrangements, Flexible Spending Accounts, and more to design and deliver customized benefits programs–all through a single platform. Employees then have three choices to spend account funds: The Forma Store with discounted products and services, The Forma Visa Card, or claim reimbursement backed by Forma’s world-class member support team. Forma has helped hundreds of the world’s most admired companies, including Stripe, Zoom, Lululemon, and Affirm, design and support flexible, inclusive benefits programs for nearly a million employees. And, we are seeing great success with 98% customer retention, 75 NPS, and 98 CSAT ratings from members. Forma is backed by Emergence Capital and Ribbit Capital and has received numerous awards for its exponential growth, its software innovation, and as a “Great Place to Work.”

Forma Details
Product Website
Discussions
Forma Community
Languages Supported
English, Spanish, Chinese (Simplified), Chinese (Traditional)
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Product Description

Forma revolutionizes employee benefits with customizable spending accounts for post-tax and pre-tax benefits, such as Lifestyle Spending Accounts (LSAs), HSAs, FSAs, Commuter, and COBRA benefits. Utilizing the Forma Card, Forma Store, or claims reimbursement, employees can take full advantage of our platform, which boasts an 85% monthly utilization rate. For Benefits professionals, setting an equitable global benefits strategy, staying on top of your budget, monitoring usage, and getting insights on claims approvals is all easy through Forma. Our consumer-grade UI coupled with our world-class support experience have garnered praise from both members and admins alike.


Seller Details
Seller
Forma
Company Website
Year Founded
2017
HQ Location
San Francisco, CA
LinkedIn® Page
www.linkedin.com
226 employees on LinkedIn®
Description

Forma is a digital platform designed to streamline the process of creating and managing employee benefits, specifically focusing on mental health and wellness. The company offers innovative solutions that empower organizations to support their employees' well-being through personalized care experiences. With a user-friendly interface, Forma aims to enhance access to mental health resources, making it easier for employees to find and utilize the support they need. For more information, visit their website at [joinforma.com](https://joinforma.com).


Justin T.
JT
Overview Provided by:

Recent Forma Reviews

SX
shuwen x.Enterprise (> 1000 emp.)
5.0 out of 5
"Easy to navigator, streamlined process for submitting claims and receive payments"
More categroeis available for boost wellness.
RC
Roxana C.Enterprise (> 1000 emp.)
5.0 out of 5
"Simple and Quick Reimbursement Process"
Using Forma is pretty self-explnatory, simple, and quick. I can enter my reimbursement request in just a few minutes and usually receive a customer...
Verified User
U
Verified UserMid-Market (51-1000 emp.)
5.0 out of 5
"One of the best benefits we have."
It very easily allows you to purchase things for your physical and mental wellness
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Forma Media

Forma Demo - The Flexible Benefits Suite
Forma manages all types of flexible benefits. This way, employees have a simple, unified experience regardless of whether they're using a pre-tax HSA or a post-tax wellness allowance.
Forma Demo - The Forma Store – your easiest path to meaningful benefits
Employees can purchase items directly in the Forma app. The store smartly shows vetted, high-quality products that meet the spending account’s eligibility requirements.
Forma Demo - The Forma Visa Card
Get unmatched convenience and simplicity for your employees with the Forma Card. Employees can choose how to use their benefits and spend anywhere Visa is accepted.
Forma Demo - A world-class claims experience
Forma offers 3 ways to pay: buy in the Forma Store, use a Forma Card, or submit claims. Once you set eligibility, Forma manages everything from claim reviews to reimbursements.
Forma Demo - Pre-tax Accounts for the 2020s
With Forma’s modern tech and sleek user experience, we’re setting a new standard for HSAs, FSAs, and commuter benefits. Pre-tax and post-tax accounts are under one platform for easy employee access.
Forma Demo - HR leaders love the Forma Admin Dashboard
Admins can compile and download reports in real time from the intuitive, self-serve admin portal. The dashboard has rich insights on usage, engagement, and satisfaction to help you understand program health.
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615 Forma Reviews

4.9 out of 5
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615 Forma Reviews
4.9 out of 5
615 Forma Reviews
4.9 out of 5

Forma Pros and Cons

How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Cons

Overall Review Sentiment for FormaQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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Verified User in Automotive
UA
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

The many possible ways to use the account. Instead of spending it all right away I like to hold on to my remaining balance until someting comes up that could be covered by the account. The flexibility to choose whether to use it on loans, bills, vacations or new athletic clothing is very encouraging. Review collected by and hosted on G2.com.

What do you dislike about Forma?

Needing to spend your own money first prior to getting reimbursed can be inconvenient on its own, but its becomes even worse if you're not 100% sure if your purchased will be allowed to be reimbursed. So you kinda of have to risk not getting your money back. Review collected by and hosted on G2.com.

What problems is Forma solving and how is that benefiting you?

Certain percentages of my income need to go towards certain things. Having this lifestyle account means I can be a little more flexible with how much % goes towards leisure versus bills (as an example) since the lifestyle account could be used towards either. Review collected by and hosted on G2.com.

Shawn B.
SB
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

The benefits and how easy the claims process is. Review collected by and hosted on G2.com.

What do you dislike about Forma?

The options that are available in the store Review collected by and hosted on G2.com.

What problems is Forma solving and how is that benefiting you?

Allows me to use my benefits with ease Review collected by and hosted on G2.com.

Isaac G.
IG
Avionics Harness Technician II
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

I like the fact that its not to complicated to use and your company doesnt need to do a boring training on it to explain of how to use it. Its futuristic but simple at the same time. Review collected by and hosted on G2.com.

What do you dislike about Forma?

I havent had a situation where ive disliked the functionality of it till this point. keep note that this is my second year of using it with my current company. Review collected by and hosted on G2.com.

What problems is Forma solving and how is that benefiting you?

To me forma aligns with the company perk they allow me to take advantage of. So overall im really happy with using it for my wellbeing. Review collected by and hosted on G2.com.

Monica A.
MA
M Health Fairview - Bethesda Clinic Social Worker / Care Coordinator
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

The most helpful thing about Forma is actually its ease and functionality in its use. Very user-friendly; headings, details and instructions make sense. I could find what I wanted and make my first purchase. Review collected by and hosted on G2.com.

What do you dislike about Forma?

I didn't notice a downfall. The one thing which may cause an issue is there are so many items to select from you run the risk of spending too much money! I have a list of items and if I can't purchase them this year, they will be on my radar for next year. Review collected by and hosted on G2.com.

What problems is Forma solving and how is that benefiting you?

Relaxation. I am an autoimmune patient and when it is difficult for me to avoid stressors, I can have a flare. The speaker I purchased will go a long way to assist me with relaxation techniques, soothing music, and meditation. Review collected by and hosted on G2.com.

PR
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

UI is easy and provides lots of user feedback for every action. There are loading screens between every step, and the UI responds without hanging too long. The UI is also clean and does not have too much extra fluff. Review collected by and hosted on G2.com.

What do you dislike about Forma?

There is a split between refunded and claimed forms, and as a user, if I log in to see the status of existing claims, I get confused because the first page only shows what's been approved. Review collected by and hosted on G2.com.

What problems is Forma solving and how is that benefiting you?

Submitting claims for wellness benefit reimbursement in an easy-to-track manner. I do have problems with the chat experience as once a chat ends, you are encouraged just to type in it to start a new conversation, but when I do, I don't immediately get a response which implies it creates a new chat - this should be clear in the chat window. Review collected by and hosted on G2.com.

BS
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Forma?

What I like best about Forma is how easy it is to navigate, as well as how quickly everything updates. When I put in a new claim, my spending account is immediately updated with the balance that will remain once the claim is approved. This is my first time using anything like Forma, and if I ever come across another company like it, my expectations will be very high. Review collected by and hosted on G2.com.

What do you dislike about Forma?

So far, I have had no issues with Forma. There is nothing to dislike about them, for me - they are fast with their reimbursement, and the instructions are easy to follow. Review collected by and hosted on G2.com.

What problems is Forma solving and how is that benefiting you?

My company follows a Remote First policy, where the top priority is the employees' needs while working from home. With Forma, we can quickly get our needs met, which has helped a lot with improving morale and getting a good job done. Review collected by and hosted on G2.com.

Verified User in Executive Office
UE
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

La facilidad de uso, y la rapida respuesta Review collected by and hosted on G2.com.

What do you dislike about Forma?

En terminos generales todo me parece muy adecuado Review collected by and hosted on G2.com.

What problems is Forma solving and how is that benefiting you?

El uso de un beneficio que nos da la administracion Review collected by and hosted on G2.com.

Georia A.
GA
C
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Forma?

I like how I can track my claims. It's also easy to submit the claims for reimbursement. It's very quick and usually gets approval very fast. I love monitoring my spending for my treat yourself funds. Review collected by and hosted on G2.com.

What do you dislike about Forma?

I have not had any issues with formal at this time. If there is anything I do not like it may be the time it takes to receive the funds. If it could be a little sooner and maybe a different way to receive the payment rather than on my direct deposit so that way it is not taxed with my income. Review collected by and hosted on G2.com.

What problems is Forma solving and how is that benefiting you?

It solves the problem of not having to submit reimbursements in multiple places. Fast and convenient of coming to one place for many things. It allows a fast way to find items for yourself or your office. Review collected by and hosted on G2.com.

Dheeraj D.
DD
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

This is a very good platform which provides a variety of products and services to the emoloyees. This helps in the overall growth and health of the employee. I love it. Review collected by and hosted on G2.com.

What do you dislike about Forma?

I think there should be more products that can be added on the homescreen just like the services you offer. I don't like to much of services and no products to buy Review collected by and hosted on G2.com.

What problems is Forma solving and how is that benefiting you?

Yes it is helping me as it is a motivational and recognitional platform by my company, The option of buying from outside and claim is very good. It is a good solution. Review collected by and hosted on G2.com.

TN
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

Upload receipt is very fast and helpful. I appreciate the fast turnaround response time from Forma. It's a one stop shop with submitting my expenses. Much easier and friendly users. Review collected by and hosted on G2.com.

What do you dislike about Forma?

I really don't see anything that isn't working well for me so far. No, I don't see any realized solutions. It's always best to have live support for all my questions and concerns Review collected by and hosted on G2.com.

What problems is Forma solving and how is that benefiting you?

Forma help me to save a lot with my expenses report and it's a simple click to submit my receipt. Yes, I'm more productive using Forma and it increases my business performance overall Review collected by and hosted on G2.com.