From another round of layoffs to a potential delisting from the New York Stock Exchange, Bright Health has continued to face challenges this year.
Here are four headlines about the payer Becker's reported since Nov. 8:
1. The New York Stock Exchange warned Bright Health it might be delisted after the company's average closing price fell below the $1-per-share threshold. It has six months to regain compliance from the receipt of the Dec. 6 notice.
2. Bright Health Group granted its top executives retention bonuses in the form of equity awards as the company ends most of its insurance business and prepares for layoffs, the Star Tribune reported Nov. 22. In a Nov. 21 SEC filing, Bright Health Group reported it granted 24.7 million restricted stock units as retention bonuses to employees. CEO Mike Mikan received 7.6 million units and CFO Catherine Smith received 2.8 million units.
3. Bright Health said Nov. 9 it is ending its Medicare Advantage plans in Florida, leaving California as the sole state where the insurer is offering plans. In October, the company said it would no longer offer individual or family health plans, or MA plans outside of Florida or California.
4. Bright Health planned to lay off 99 employees at its Bloomington, Minn., headquarters, the Star Tribune reported Nov. 9. The affected employees will have jobs until Jan. 7, according to WARN Act filings.