Datapoint: North Carolina Caps a Startup’s Enrollment
North Carolina is suspending any new enrollment in plans offered by Friday Health Plans Inc., a Texas-based health insurance startup. New members will not be able to enroll in Friday Health Plans for the remainder of 2023, but coverage will remain unchanged for current members. In recent weeks, the startup has also been placed under receivership by the Texas Department of Insurance and ordered to liquidate. The company launched in 2015 and focused on marketplace products, later expanding to Individual Coverage Health Reimbursement Arrangements (ICHRAs). But like other startups, it struggled to reach profitability or substantial market share. Prior to its Texas receivership, Friday enrolled 381,691 members in seven states.
Source: AIS’s Directory of Health Plans