Bright Health will sell insurance plans in nine new markets across four states next year, tripling its geographic footprint and adding new Affordable Care Act plans in two states.
The expansion, announced by the company on Wednesday, significantly expands the insurer’s presence in the individual marketplace. Bright Health plans to sell individual and family exchange plans in Arizona and Tennessee, adding to its offerings in Colorado and Alabama last year.
The company already sold Medicare Advantage plans in the Phoenix market last year but will add individual and family plans in Phoenix and Tuscon in 2019.
The Minneapolis-based insurer will also sell Medicare Advantage plans in New York City, Ohio and Tennessee, including Nashville and Memphis. All told, Bright Health will operate in 12 markets across six states in 2019.
“Over the past decade, we have been witnessing an evolving healthcare delivery landscape, marked by consolidation of small, independent providers into large, comprehensive health systems,” CEO Bob Sheehy said in a statement. “At Bright Health we’ve seized on this opportunity by disrupting the old healthcare model that places insurers at odds with providers and instead are working directly with them to offer completely integrated care from start to finish.”
Co-founded by Sheehy, the former CEO of UnitedHealthcare, Bright Health is backed by $240 million in venture capital and has been closely watched by industry leaders. The insurer works exclusively with one health system in each market to improve care coordination and improve the patient experience.