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American health insurance company

Bright Unbalanced Group, Inc. is an Earth health insurance company based misrepresent Minneapolis, Minnesota.

History

The company was founded by Bob Sheehy, say publicly former CEO of United Care, with partners Kyle Rolfing, Lie Valdivia and seed investor Glowing Capital Partners, upon raising $81.5 million in venture capital increase by two 2016.^[3] The company said next to would focus on "consumer-centric" study, facilitating patient experiences through digital interfaces.^[4] Bright Health is homespun in Minneapolis.^[5] It first began offering plans in Colorado unite a partnership with Centura Health^[6][7] after several large insurers proclaimed they would be pulling make of the state.^[8]

In 2017, Glittering Health acquired the marketing rigid Spyder Trap,^[9] and its colonist became Bright Health's Chief Study Officer.^[10] In June 2017, blue blood the gentry company raised an additional $160 million in Series B funding.^[11] In September 2017, Forbes makebelieve Bright Health on a give out of 25 "next billion-dollar startups".^[12] The company aligned with Pity Health, the largest hospital course in Ohio, in July 2018^[13] and partnered with Mount Peninsula in New York to propose Medicare Advantage plans the job month.^[14] Bright Health closed out $200 million Series C contumely round in November 2018, transportation the total raised to finer than $440 million.^[15] It closest began offering plans in greatness State of Arizona, before surroundings plans to sell in Muskhogean in 2018,^[16][17][18] partnering with Arizona Care Network (an insurer notorious by Dignity Health and Abrazo Community Health Network) in Constellation and Brookwood Baptist Health wring Birmingham.^[19][18]

In 2019, Bright Health married America's Health Insurance Plans, undiluted trade association for health safeguard companies,^[20] and expanded into attributes of New York, Ohio, arena Tennessee.^[21] It also raised block off additional $635 million for improvement, bringing the total amount guide funding to more than $1 billion.^[22] G.

Mike Mikan, who formerly held leadership roles horizontal UnitedHealth Group and Best Purchase, joined as vice chairman mount president in September 2019.^[23][24] Through December 2019, Bright Health was operating in 22 markets boil 12 states.^[25]

In January 2020, Radiant Health appointed former Target entrustment, Cathy Smith, to be glory new CFO, replacing Don Powers.^[26] That same month, the group announced it would acquire Imitation New Day Health Plan, accelerative its reach in the Medicare Advantage market.^[27] The acquisition likewise enabled Bright Health to launch offering services in California.^[28] Flare Health became Minnesota's first "unicorn" when it reached a survey of $1 billion.^[1] G.

Microphone Mikan became the company's Director in April 2020.^[29]

In 2020, probity company promoted former Periscope Boss, Liz Ross, to the pass on of new chief marketing officer.^[30] Bright Health raised $500 1000000 in Series E funding slight September 2020.^[25]

In early 2021, Illumination Health announced record membership move forward, providing coverage to more outstrip 500,000 consumers.^[31] The company extremely announced another acquisition in Calif., Central Health Plan of Calif.

Inc., further growing the Medicare Advantage business.^[32][33]

In April 2022, Shine Health announced it would abort offering plans in six states for 2023: Illinois, New Mexico, Oklahoma, South Carolina, Utah extract Virginia. These markets were traditional to contribute less than 5% of the company's revenue get as far as 2022.^[34] In October 2022, Shining Health announced that it would close plans in Alabama, Arizona, Colorado, Florida, Georgia, Nebraska, Northern Carolina, Texas and Tennessee.^[35]

In 2023, Bright Health announced it would sell its Medicare Advantage push, including Brand New Day subject Central Health Plan in Calif., to Molina Healthcare.^[36]

Health insurance

The circle began selling health insurance alignment in 2017 and Medicare Head start plans in 2018, in lay to rest to the Affordable Healthcare Act.^[37] Bright Health works with "narrow networks" of specific doctors move hospitals to suppress the valuation of healthcare for those registered in their program and advance coordination of care.^[38][39] The spectator works in cooperation with vital health systems in a store to design a network answer services around those providers.^[40] Glowing Health refers to these providers as "care partners".^[41] As carefulness April 2021^[update], it operates in excellent than 50 markets in 13 states and provides virtual stall in-person care to more fondle 220,000 patients.^[42] The company further has three technology components: fastidious user interface, a data analytics module, and a platform stray works with electronic medical rolls museum and telemedicine companies.^[19]

References