Founders photo Bright Health

Bright Health, the Minneapolis-based health-insurance startup that provides health plans for individuals and families and to seniors has big plans for a major expansion.
As soon as 2020, the company could newly offer coverage in Illinois, Georgia, Florida, South Carolina, and Nebraska, according to job listings and insurance filings reviewed by Business Insider. It currently operates in six states.
Bright Health has raised $441.7 million and has a valuation of $950 million, according to PitchBook.
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Health insurer Bright Health is gearing up for a big expansion.

Founded in 2016, Bright Health provides health plans for individuals under the Affordable Care Act and to seniors in Medicare Advantage. The company has raised $441.7 million and has a valuation of $950 million, according to PitchBook.

The company had made its way into six states as of 2019 and is laying plans to operate in five more as soon as next year, according to job listings and regulatory filings reviewed by Business Insider. The new states are: Illinois, Georgia, Florida, South Carolina, and Nebraska.

A spokesperson for Minneapolis-based Bright Health declined to comment.

Read more: We got a look at the 2019 plans for venture-backed health-insurance startup Bright Health, which says it doubled its membership again

Bright partners with one health system in each market to help set up its insurance plan. For instance, in New York, it’s working with Mount Sinai Health System. Bright typically offers these plans to individuals, families, and seniors. The idea is that if Bright can work directly with one health system in a region rather than contract with every health provider there, it can make its members’ care better and less expensive.

Bright has said it generated $145 million in revenue in 2018, in line with the company’s expectations, on the plans …read more

Source:: Business Insider

      

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