Just a few years ago, a crop of venture-backed health insurance startups embarked on planting a flag in the crowded but lucrative health plan business for seniors.
Bright Health, which has exited the insurance business entirely as of this year, sold its Medicare Advantage plans in December.
However, there are signs that the Medicare Advantage business isn’t as much of a goldmine as it used to be.
It takes an enormous amount of capital to grow big in the insurance business, Fidel said.
Its Medicare Advantage membership totals about 4 million.
Persons:
haven’t, Stephens, underscoring, Oscar Health, Clover, Cowen, Gary Taylor, didn’t, Scott Fidel, it’s, they’ll, Fidel, UnitedHealthcare
Organizations:
Alignment Healthcare, Medicare, Business, Bright, Oscar, Services, Humana, CVS Health, Aetna, CVS
Locations:
California, New Jersey