Health Insurance Startups Bet It’s Time for a Nineties Revival

From Bloomberg:

Zachery Tracer writes in Bloomberg, “Health maintenance organizations drove down costs but were painted as villains in that decade for limiting patient choice, rationing care and leaving consumers to grapple with high bills for out-of-network services. But some features of the plans are regaining currency. Companies reviving the model say that new technology and better customer service will help avoid the mistakes of the past.”

Bind, started in 2016, ditches deductibles in favor of fixed copays that consumers can look up on a mobile app or online before heading to the doctor. Another upstart, Centivo, founded in 2017, uses rewards and penalties to nudge workers to get most of their care and referrals for specialists from primary-care doctors.

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Is it Time for On-Demand Health Insurance?

From BenefitsPro

Emily Payne writes in BenefitsPro that fueled by a new round of funding, startup Bind is planning to test-drive its on-demand health care model with a handful of Fortune 500 companies.

Payne states that. “Insurance startup Bind is incredibly confident in the expansion of its on-demand health insurance platform, which offers consumers a core set of health care benefits, as well as the option to add coverage for specific procedures as the need arises.”

Basically, the model, which is used by self-insured employers, separates common and routine procedures from big-ticket surgeries.

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