- New states include Texas, which has the third largest IFP population, significantly expanding 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 will be the first plan in six years to be added to Covered California, California’s state-based exchange.
Today, Bright HealthCare, the healthcare financing and distribution business of Bright Health Group (NYSE: BHG or the “Company”), announced its expansion into several new states for 2022. It also expanded its product portfolio in states where it already does business. The planned growth brings Bright HealthCare’s overall footprint to 17 states and 131 markets nationwide next year reaching over 16.5 million eligible consumers.
“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.”
Bright HealthCare offers health plans that serve consumers across their entire life journey, including individual and family, Medicare Advantage and employer-sponsored plans. These products are built around Integrated Systems of Care in each market and leverage Bright Health Group’s proprietary DocSquad™ technology which together have consistently shown to produce better outcomes.
“Bright Health Group is the nation’s first fully aligned, technology-enabled, integrated model of care,” said G. Mike Mikan, Bright Health Group President and CEO. “Our differentiated model is built on alignment between providers, payors and consumers and is working together to make healthcare simple, personal, and affordable.”
ABOUT BRIGHT HEALTH GROUP
Bright Health Group is built upon the belief that by aligning the best local resources in healthcare delivery with the financing of care we can drive a superior consumer experience, optimize clinical outcomes, reduce systemic waste, and lower costs. We are a healthcare company building a national Integrated System of Care in close partnership with our Care Partners. Our differentiated approach is built on alignment, focused on the consumer, and powered by technology. We have two market facing businesses: NeueHealth and Bright HealthCare. Through NeueHealth, we deliver high-quality virtual and in-person clinical care to nearly 170,000 patients under value-based contracts through our 44 owned primary care clinics and support 87 additional affiliated clinics. Through Bright HealthCare, we offer Commercial and Medicare health plan products to approximately 663,000 consumers in 14 states and 99 markets as of June 30, 2021. For 2022, all coverage areas are subject to benefit plan approval by the Centers for Medicare & Medicaid Services (CMS) and/or final state regulatory approval, including requisite state insurance or HMO licensure approvals. We are making healthcare right. Together.