Bright HealthCare expands to 42 new markets
It has expanded its product portfolio in states where it already does business, including Florida, California, Colorado and North Carolina.
Photo: Justin Paget/Getty Images
Health insurer Bright HealthCare is expanding into 42 new markets for 2022, including in Texas, Georgia, Utah and Virginia.
Texas has the third largest individual and family plan population, Bright Healthcare said, so offering plans in this state significantly expands Bright HealthCare's total addressable market.
The company also announced an expanded product portfolio in states where it already does business, including Florida, California, Colorado and North Carolina.
Bright Healthcare is also being added to Covered California, California's state-based exchange.
WHY THIS MATTERS
Bright HealthCare offers commercial and Medicare health plan products to approximately 663,000 consumers in 14 states and 99 markets as of June 30, 2021.
The company is built around a payer and provider integrated and technology-enabled model of care, according to G. Mike Mikan, CEO and president of Bright Healthcare's parent company, Bright Health Group.
The planned growth of this model for 2022 brings Bright HealthCare's overall footprint to 17 states and 131 markets nationwide next year, reaching over 16.5 million eligible consumers.
The expansion is subject to benefit plan approval by the Centers for Medicare and Medicaid Services and/or final state regulatory approval, including requisite state insurance or HMO licensure approvals.
THE LARGER TREND
Bright HealthCare also announced an expansion last year. In June 2020, it announced it would expand its Medicare Advantage, individual and family-plan products in six new areas in Florida, North Carolina and Illinois and add fully-insured small business plans to available products in certain markets.
Bright HealthCare includes individual and family, Medicare Advantage and employer-sponsored plans.
Bright HealthCare also participates in a number of specialized plans and is among the nation's largest providers of Chronic Condition Special Needs Plans, a health plan that exclusively serves individuals with severe or disabling chronic conditions.
These plans are built around the proprietary DocSquad technology to produce better outcomes.
Bright Health Group's NeueHealth offers virtual and in-person clinical care to nearly 170,000 patients under value-based contracts through 44 owned primary care clinics and support 87 additional affiliated clinics.
ON THE RECORD
"Across nearly every one of our products and markets consumers are choosing Bright HealthCare. This shows that our integrated Care Partner model works." said Simeon Schindelman, CEO, Bright HealthCare.
"Our continued growth in expansion states like Texas, as well as existing states like California and Florida is further proof that our transformative model is not only meeting demand, but more importantly, lowering healthcare costs and improving quality for consumers while also building durable, trusting two-way relationships between consumers and primary care providers."
Twitter: @SusanJMorse
Email the writer: susan.morse@himssmedia.com
