Bright Health Revises Strategy & Exits Individual Health Plan Marketplace For 2023 Nationwide, Will Continue To Offer Fully Aligned Care Model

Bright Health Group, Inc. (Bright Health) will no longer offer Individual and Family Plans through Bright HealthCare, or Medicare Advantage products outside of California and Florida in 2023. The company revised its strategy to focus on offering its differentiated Fully Aligned Care Model in partnership with aligned external payers and care provider organizations. In addition, Bright Health announced raising $175 million of committed convertible preferred equity capital that is expected to close in the coming weeks and take the business through profitability.

With this announcement, in addition to previously announced market exits, after 2022 Bright HealthCare will not offer Individual . . .