Equity Healthcare, the healthcare management division of Blackstone, has tapped Centivo as its preferred health plan offerings for its portfolio of companies.
Centivo's plans will be made available to Equity's portfolio of healthcare companies beginning on Jan. 1, 2022.
Centivo's plan design is built on value-based care, and offers no deductibles, no coinsurance, free primary care and predictable copayments, the insurer said.
Ashok Subramanian, CEO of Centivo, told Fierce Healthcare that the relationship with Blackstone is a "huge opportunity" for the company.
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"Ultimately our goal is, 'how do we get access to that health plan to as many working Americans as we possibly can?'" Subramanian said.
The Equity Healthcare companies can choose to offer Centivo as their sole health plan administrator, or in tandem with other coverage options they may select.
One Blackstone company that has already signed on with Centivo has seen significant results, according to the announcement. This company has incurred notably less out-of-pocket expenses compared to companies using other plans.
The arrangement marks another growth opportunity for Centivo, which has expanded into metropolitan New York, Southern California, Central Florida, northern North Carolina, Nebraska, Iowa and Wisconsin.
"It’s a realization and yet another indication that enough is enough," Subramanian said. "Companies are basically...saying we need to attract or retain employee benefits people can actually afford."