Bright Health Raises $500M, Plans Expansion into Employer-Based Insurance

Insurance startup Bright Health raised another $500 million, as it plans to expand into new markets and offer small group plans. The company, which was co-founded in 2015 by former UnitedHealthcare CEO Bob Sheehy, offers individual market plans and Medicare Advantage plans. It uses a narrow-network model that involves partnering closely with one health system in each market.

The startup also is building out its presence in employer-sponsored health insurance. It plans to offer fully insured small business plans in Denver, Nashville, Memphis and Nebraska. It also plans to offer level-funded plans for companies with 20 to 100 employees and offer administrative services to large, self-insured employers. Read More: MedCityNews

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