Bright Health Group has been ordered to liquidate by a Texas court, which will block the enforcement of risk-adjusted transfer payments in Texas that the company has defaulted on.
According to Fierce Healthcare, Bright agreed to a repayment agreement with the Centers for Medicare and Medicaid Services (CMS) for $89.6 million, or...National News
Last week, home health company Amedisys announced that it would be purchased by UnitedHealth Group subsidiary Optum for $3.6 billion. Meanwhile, Bright Health is cashing out by selling its remaining Medicare Advantage plans to managed care company Molina Health.
Optum's diversified offerings like data analytics through Optum Insight...National News
For the first quarter of 2023, Clover Health reported revenue of $527.8 million and a net loss of $72.6 million as Bright Health reported its revenue at $756 million and a net loss of $94.8 million. Also this week, Wall Street insiders are predicting a bankruptcy filing as soon as this weekend for the physician staffing company...
During a year of record-breaking enrollment, national insurers have expanded their Marketplace policies but the number of insurtechs competing on HealthCare.gov has dropped 45% due to financial losses and tight capital.
Rule Highlights
Non-Standardized Plans
The new rule from the Centers for Medicare & Medicaid Services (CMS)...
This week, some of the insuretech companies that spent the past year struggling are trying to change their fortunes. Oscar Health brings on a seasoned, experienced CEO with a new goal and Bright Health is making some desperate stock moves.
Mark Bertolini, former CEO of Aetna and hedge fund Bridgewater Associates was appointed CEO of...National News
Moody's Investors Services reports 34 healthcare organizations, including a dozen hospitals in North America, are now reporting $65 billion in outstanding debt and rated as B3 negative - meaning obligations are considered speculative and subject to high credit risk. Bright Health Group's financial health is also taking a hit; after...National News
Insuretech companies have suffered some huge financial losses this year, as a result some of them are pulling away from certain Medicare markets and pivoting to other methods of improving business.
For the third quarter of 2022, Clover Health posted a $75.3 million net loss, but doubled its total revenue year-over-year from $427...Arizona News
This year's surprising exit of Bright Health on the Marketplace leaves $4 billion in ACA revenue up for grabs for brand name giants including UnitedHealthcare, Centene, Cigna, and CVS, but it's some lesser known short-term plans and Healthcare Sharing Ministries that are also gaining consumer attention with deceptive marketing touting...
As seniors, the Centers for Medicare and Medicaid Services (CMS) and Medicare Advantage (MA) plans gear up for a landmark Medicare Advantage Open Enrollment Period beginning October 15, Medicare Advantage on the whole is in hot water.
Last week, the New York Times published an earthshaking story documenting the extent to which...
If insuretech startups promised one thing, it was that they had a bulletproof plan to game the insurance market, attract a ton of enrollees to their plans and produce hand-over-fist returns for their investors. After several quarters of substantial losses, investors are losing interest and companies like Oscar Health, Clover Health and...National Reports & Surveys
In 2022 insurer participants grew 21% YOY in the individual market, which displayed stable premiums thanks to additional subsidies from the American Rescue Plan. The market featured more product choices for consumers and one stand-out brand: Blue Cross Blue Shield, which since 2014 has been available to 80% of consumers shopping for a...National News
Health insurance technology startups have struggled to meet industry expectations, with several of the most lauded companies losing money quarter-to-quarter despite significant growth. But these insuretech startups' CEOs are receiving ample bonuses despite poor corporate performance.
A few recent examples: Bright Health Group recorded...Arizona News
In Arizona, Bright Health is one of eight insurers competing for business on the ACA Marketplace and covers about 1,200 Medicare Advantage lives in the state.
Bright Health said its exit from individual markets in Illinois, New Mexico, Oklahoma, South Carolina, Utah and Virginia accounts for less than 5% of its revenue.
Mike...National News
Marketplace rules allow people earning less than 150% of FPL to purchase health insurance anytime during the plan year starting April 1, 2022, and CMS is concerned insurers including Bright Health, Oscar and some Blue Cross Blue Shield plans have cut commissions on Marketplace products.
In a new research study, most patients with...Arizona News
CEO Simeon Schindelman has decided to resign from his position with effect from March 11 and the company's current Chief Financial Officer, Jay Matushak will fill the leadership role on an interim basis.
Bright Health's parent Bright Health Group (BHG) also includes NeueHealth and together the company provides care delivery and...
The Centers for Medicare & Medicaid Services (CMS) released key information for Medicare Advantage and Part D prescription drug plans in advance of the 2022 annual open enrollment period (OEP). Marketing and advertising for most MA plans starts October 1 with plan sales beginning October 15 and ending December 7, 2021.
Arizona...
Window shopping is available on HealthCare.gov before the 2021 Open Enrollment Period (OEP) starts November 1, but those with qualifying events, including a recent job loss, can enroll now for 2020 coverage.
Next year's proposed rate changes range from a decrease of about 7% to an increase of about 9% as more Arizonan's are expected...Arizona News
During a time when millions are losing employer-sponsored health insurance, shoppers in Arizona and across the nation may have more plans to choose during the 2020 Open Enrollment Period (OEP) on the Federal Health Insurance Marketplace that begins November 1 and continues through December 15.
This week Cigna and Centene announced...Arizona News
The state and federal filings include the individual and small group markets offering ACA qualified health plans; rate change increases impact at least one plan for each insurer.
In the individual market, Oscar Health Plan and Health Net of Arizona all proposed average lower rates in 2021 while BCBSAZ and Cigna asked for average...Arizona News
Arizona's Medicare Advantage market continues to climb with a 38 percent saturation rate; latest numbers following the annual enrollment period shows UnitedHealthcare's AARP branded product still reigns supreme.
According to data from the Centers for Medicare & Medicaid Services, UnitedHealthcare/Pacificare's AARP plan reprised...
