April 18, 2022
  • Bright Health announced it will no longer offer individual and family plans in six states next year as the company attempts to stabilize its finances following a rough year. The insuretech said that the markets in the six states – Illinois, New Mexico, Utah, Oklahoma, South Carolina, and Virginia – are projected to contribute less than 5 percent of its total revenue for this year and will have an “immaterial” impact on revenue in 2023 and beyond. Earlier this year, Bright Health outlined plans to curtail its growth and exit expensive markets as a result of the pandemic driving up medical costs for members gained through the special enrollment period. (Article here)