Datapoint: Bright Health Under Financial Supervision in Florida
Startup insurer Bright Health is currently under administrative supervision in Florida. While the restrictions, under which Bright Health must give Florida regulators complete access to all of its offices and financial records, have been in place since September, they were made public when the state filed a 60-day extension of the consent order earlier this month. This is just the latest in a series of woes for the startup. Prior to its 2022 exchange exit, Bright Health was the fourth-largest insurer in Florida’s individual commercial market, serving about 275,000 lives. Its only remaining asset in Florida is a Medicare Advantage plan with 3,145 members.
Source: AIS’s Directory of Health Plans