Datapoint: Friday Health Plans to Shut Down

Venture-backed insurance startup Friday Health Plans “will begin to wind down its business activities throughout the country, working in close conjunction with state regulators,” the Colorado Division of Insurance (DOI) said on June 1. The insurtech has been placed into receivership by two states, Georgia and Texas, in recent weeks. “While Friday Health Plan of Colorado has maintained the capital required by Colorado law, the problems in other states and with the parent company are now impacting the company here,” Colorado Insurance Commissioner Michael Conway said in a statement. The Affordable Care Act exchange-focused insurer enrolled 398,260 members in seven states as of the latest update to AIS’s Directory of Health Plans.

Source: AIS’s Directory of Health Plans

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