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Forma Reviews & Product Details - Page 18

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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1 person requested security information

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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G2 reviews are authentic and verified.
RM
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

How simple the application process is. The 500$ helps me and my family stay healthy and wealthy. Review collected by and hosted on G2.com.

What do you dislike about Forma?

No downsides, I plan on filing more claims in the future. Review collected by and hosted on G2.com.

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

Forma is helping me with financing and benefiting on my goals Review collected by and hosted on G2.com.

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

Forma is easy to use. All you have to do is put in a little information and submit a receipt. The turnaround time on the reimbursement is quick. I used it immediately after it was made available and received my reimbursement weeks before the estimated date. Review collected by and hosted on G2.com.

What do you dislike about Forma?

The reimbursement is taxed, so you end up getting less than you actually spend. Review collected by and hosted on G2.com.

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

Forma allows me to make purchases to improve my lifestyle outside of work. It gives me ease of mind knowing that I can use my account to get some money back on bills. It also helps pay for skill development so that I could better myself without so much worry about finances. Review collected by and hosted on G2.com.

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

Easy to work with the application. The instore offer. Review collected by and hosted on G2.com.

What do you dislike about Forma?

There could be more variety items to choose for instore shopping. Review collected by and hosted on G2.com.

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

It's quick and fast to reinburse. Review collected by and hosted on G2.com.

Jeremy B.
JB
Facilities Site Lead
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

Simple process to get reimbursed - quick payment Review collected by and hosted on G2.com.

What do you dislike about Forma?

Need 12 characters for password, just annoying Review collected by and hosted on G2.com.

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

Personal spending account Review collected by and hosted on G2.com.

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

It helps pay bills so I have more disposable income. Review collected by and hosted on G2.com.

What do you dislike about Forma?

The debit card is declined a whole lot so you have to spend your own money and file a claim for reimbursement. Review collected by and hosted on G2.com.

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

How to financally survive paying back student loans. Review collected by and hosted on G2.com.

Joseph F.
JF
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?

The best part about Forma is the flexibility that it provides you. For one, you can use the card for several disparate health benefits (e.g., gym membership, healthy food, etc.). Additionally, the fact that you can switch what you choose to spend the stipend on quarter to quarter allows your benefits to evolve with your needs. Review collected by and hosted on G2.com.

What do you dislike about Forma?

I constantly have to check my balance throughout the quarter. I would appreciate it if there were updates provided to me regularly (e.g., weekly or monthly updates about my balance via email or push notification). Review collected by and hosted on G2.com.

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

Essentially, as of now, I use Forma for two primary purposes: 1) my monthly gym membership so I can keep my body and mind healthy and 2) healthy groceries that I buy at Trader Joe's. Review collected by and hosted on G2.com.

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

One of the best benefits platform, easy to use and claims are processed quickly. Also customer support is quick to respond. Compared to concur, forma is easy to use. Review collected by and hosted on G2.com.

What do you dislike about Forma?

Sometimes we might have to check with employers for the claim rejections but mostly proper claims will be approved. Customer support need to informed more about the products? Review collected by and hosted on G2.com.

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

I use forma to claim benefits provided by my organization. As I'm part of a large organization it's easy to get the benefits details and claim process Review collected by and hosted on G2.com.

Verified User in Computer Software
UC
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite
Incentivized Review
(Original )Information
What do you like best about Forma?

I love that it is money that is specifically allocated towards things that either make me happier or healthier, or both. Normally cash incentives or bonuses just end up going to debt or normal every day stuff, whereas this goes directly to things that make life better. Review collected by and hosted on G2.com.

What do you dislike about Forma?

One thing that I don't love is that it is only available for approved purchases. I'm not sure if that comes from Forma, or if they agree upon things with the admins, but it would be nice if it approved more things. Review collected by and hosted on G2.com.

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

It makes sure that we are spending money on things that improve physical or mental health, which most people don't spend any money on in general. It has allowed me to get thigns that get me out of the house more, ie bikes, kayaks, etc. Review collected by and hosted on G2.com.

Verified User in Information Technology and Services
UI
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Forma?

Easy to navigate and user friendly with simplicity across Review collected by and hosted on G2.com.

What do you dislike about Forma?

May be little bit of look & feel can attract more Review collected by and hosted on G2.com.

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

Submitting benefits required Review collected by and hosted on G2.com.

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

Fast responses. They always response my questions very quicly. Review collected by and hosted on G2.com.

What do you dislike about Forma?

Ambigious decisions, for example an IPAD may or may not pass based on the people that you asked (I know several cases that Ipad count as a drawing tablet and on several cases it did not count.) Review collected by and hosted on G2.com.

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

Submitting my requset for Perks+ Review collected by and hosted on G2.com.