In October, the company said it would no longer offer individual or family health plans, or Medicare Advantage plans outside of Florida or California.
On a Nov. 9 call with investors, Bright Health Group CEO Mike Mikan said the insurer is focused solely on California.
“We have a scaled Medicare Advantage business in California, the largest market for aging and underserved populations,” Mr. Mikan told investors. And we have built a high performing, fully aligned care model with our care partners across the state.”
Bright Health Group CFO Cathy Smith told investors the company expects to have around 125,000 Medicare Advantage members at the end of 2023.
The Star Tribune reported Nov. 9 the company will lay off 99 employees at its Bloomington, Minn., headquarters. The company also laid off 150 workers earlier in 2022.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.