Venture Capital Firms, Former UnitedHealthcare CEO Set Up New Insurance Company
The startup is planning to compete in the health law's insurance marketplaces and eventually Medicare Advantage. Also, officials have announced increases in premiums for federal workers' long-term care insurance.
Former UnitedHealthcare CEO Launches Venture-Backed Insurer
Another new health insurance startup is hitting the marketplace. Bright Health has raised $80 million from a handful of venture capital firms and has its sights set on the Affordable Care Act exchanges and, eventually, Medicare Advantage. Bob Sheehy, the former CEO of UnitedHealthcare, is one of Bright Health's co-founders and serves as CEO. (Herman, 4/6)
The Washington Post:
Long-Term Care Premiums For Federal Employees Set To Rise
Premiums in the long-term care insurance program for federal employees and retirees are expected to increase later this year for most enrollees, the government has said, but exactly when and by how much is yet to be determined. The Office of Personnel Management on Tuesday awarded a new seven-year contract to the John Hancock Life and Health Insurance Company to administer the Federal Long Term Care Insurance Program. The program provides in-home, assisted living and nursing home benefits for those unable to fully care for themselves due to physical or mental conditions. (Yoder, 4/6)