Bright Health Reveals Deal to Repay Risk Adjustment Funds

Bright Health Group, Inc. — the struggling “insurtech” firm that is in the process of pulling out of the health insurance business entirely — disclosed recently that it has failed to deliver $380 million to other health plans that it’s required to pay under the Affordable Care Act’s risk adjustment program. The firm therefore has entered into a repayment agreement with the federal government.

In a press release, Bright touted the agreement as a sign the company is making “significant progress” toward the wind down of its ACA exchange business. Bright stopped offering ACA plans in all 15 states in which it operated starting in 2023 amid ongoing financial troubles.

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Leslie Small

Leslie Small

Leslie has been working in journalism since 2009 and reporting on the health care industry since 2014. She has covered the many ups and downs of the Affordable Care Act exchanges, the failed health insurer mega-mergers, and hundreds of other storylines spanning subjects such as Medicaid managed care, Medicare Advantage, employer-sponsored insurance, and prescription drug coverage. As the managing editor of Health Plan Weekly and Radar on Drug Benefits, she writes and edits for both publications while overseeing a small team of reporters who also focus on the managed care sector. Before joining AIS Health, she was a senior editor for the e-newsletter Fierce Health Payer, and she started her career as a copy editor at multiple local newspapers. She graduated with a dual degree in journalism and political science from Penn State University.

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