Minneapolis-based Bright Health announced this morning it has received federal government approval to begin offering Medicare Advantage plans in New York City, making this partnership the newest market addition to its exclusive Care Partner collaborations.
The company plans to begin offering the plans to 65+ consumers in New York during this fall’s 2019 annual enrollment period via a partnership with Mount Sinai Health Partners, which serves 350,000 patients.
Under this model, Bright Health customers have access to Mount Sinai’s Medicare provider network and a set of clinical affiliates, delivering care and coverage that’s convenient, efficient and reliable. In total, Bright Health members can take advantage of more than 2,500 network providers, 300 community locations and seven hospitals spanning Manhattan, Queens and Brooklyn.
Bright Health combines health insurance services with health provider services by working exclusively with only one health care provider within a marketplace. It serves individuals, not companies providing employer-sponsored health care to its employees.
It’s also literally Minnesota’s brightest startup. It was founded by accomplished health care startup entrepreneurs and raised $240 million in financial backing within its first three years. Forbes ranked it as one of its 25 “Next Billion-Dollar Startups” in 2017, which was the first year the company was open for business (it generated $45 million that year alone). And it already employs more than 180 people. Last month, Twin Cities Business published the best overview story to date about the company.
Bright Health’s innovative Care Partner Health Plan model works exclusively with one health system per market to offer superior, integrated care “under one roof”. This relationship allows for coordination of services, technology, data and administration to optimize consumer and patient experience. It creates a unique alignment between Bright Health and Mount Sinai when serving Bright Health members, with the promise of enhanced benefits, better outcomes and reduced healthcare costs overall.
Bright Health currently offers a range of individual, family and Medicare Advantage plans in Arizona, Colorado and Alabama via its website, call center, broker partners and through government websites as well as public health insurance exchanges.