Workweek November 14, 2022
INSURTECHS DITCH MEDICARE ADVANTAGE AS INCUMBENTS LEAN IN
After snatching up Medicare Advantage (MA) members earlier this year and making a market share play against incumbent insurers like Cigna and Humana, Bright Health and Oscar are now doing a complete 180 and exiting almost all MA markets.
- Bright is leaving its Florida MA market behind, once a major bullish thesis for the insurtech and its last operational holdout outside of Texas and California. For those following along at home, this announcement is the third contraction of its business model. Hopefully the realigned focus will help Bright succeed with more narrow, services-focused growth goals, but they have major questions to answer from investors.
- Oscar is almost entirely exiting the MA...
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