Bright Health, a Minneapolis-based insurer, will partner with New York-based provider Mt. Sinai to provide Medicare Advantage plans starting in 2019, pending approval from the Centers for Medicare & Medicaid Services (CMS).
According to Crain’s New York Business, CEO Bob Sheehy said, “We think the Medicare market is a good place to start in New York. We expect in the future we will be expanding our overall footprint.”
Founded in 2015, Bright Health markets itself as providing tools to help beneficiaries predict out-of-pocket spending, touting its close relationships with carriers. The company would work specifically with Mt. Sinai’s seven hospitals and more than 6,000 doctors in New York City, Long Island, and Westchester.
Premium prices and information will become available this fall ahead of the Annual Enrollment Period (AEP) which starts on October 15. Bright Health plans to sell Medicare Advantage plans in 12 markets in six states next year.