{
 "company": "bright-health",
 "as_of": "2026-09-26",
 "choices": [
  {
   "id": "bright-health-p02",
   "business": "ACA individual health insurance",
   "category": "product",
   "dimension": "Initial product",
   "statement": "Planned tech-enabled health insurance plans for individuals, starting with 2017 plan-year enrollment.",
   "event_date": "2016-04",
   "date_precision": "month",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH10"
   ]
  },
  {
   "id": "bright-health-g01",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Founding capital and board",
   "statement": "Raised about $80 million from Bessemer Venture Partners, New Enterprise Associates and Flare Capital; Stephen Kraus and Mohamad Makhzoumi joined the board.",
   "event_date": "2016-04-05",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH10"
   ]
  },
  {
   "id": "bright-health-p01",
   "business": "ACA individual health insurance",
   "category": "product",
   "dimension": "Entry network",
   "statement": "Colorado was the flagship market, with Centura Health's Colorado Health Neighborhoods network as the exclusive provider for individual plans sold from the 2017 plan year; Sheehy described the two as \"financially aligned\".",
   "event_date": "2016-05",
   "date_precision": "month",
   "evidence_kind": "participant_account",
   "sources": [
    "BH29"
   ]
  },
  {
   "id": "bright-health-g02",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Channels at entry",
   "statement": "Planned to sell through the Colorado exchange, private exchanges and brokers.",
   "event_date": "2016-05",
   "date_precision": "month",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH29"
   ]
  },
  {
   "id": "bright-health-p03",
   "business": "ACA individual health insurance",
   "category": "product",
   "dimension": "Narrow network",
   "statement": "Partnered with a single comprehensive health care provider in each market, creating narrow networks meant to lower premiums.",
   "event_date": "2018-08",
   "date_precision": "month",
   "evidence_kind": "company_described_offering",
   "sources": [
    "BH9"
   ]
  },
  {
   "id": "bright-health-g03",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Early scale",
   "statement": "Had raised $240 million in two rounds; 2017 revenue was $45 million with a $17.5 million Colorado loss; sold in Colorado, Alabama and Arizona with Ohio, Tennessee and New York City planned for 2019.",
   "event_date": "2018-08",
   "date_precision": "month",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH9"
   ]
  },
  {
   "id": "bright-health-p04",
   "business": "ACA individual health insurance",
   "category": "product",
   "dimension": "Care Partner model",
   "statement": "Described an exclusive Care Partner Health Plan model with one health system per market, offering individual and family and Medicare Advantage plans in Alabama, Arizona, Colorado, New York City, Ohio and Tennessee.",
   "event_date": "2018-11",
   "date_precision": "month",
   "evidence_kind": "company_described_offering",
   "sources": [
    "BH11"
   ]
  },
  {
   "id": "bright-health-g04",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Series C and expansion plan",
   "statement": "Raised a $200 million Series C, more than $440 million in total, to fund expansion expected to triple its footprint in 2019.",
   "event_date": "2018-11-29",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "BH11"
   ]
  },
  {
   "id": "bright-health-g05",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Series D and footprint",
   "statement": "Raised a record $635 million Series D at the end of 2019; plans were sold in 34 markets across 13 states.",
   "event_date": "2020-04-23",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH33"
   ]
  },
  {
   "id": "bright-health-p07",
   "business": "Value-based care delivery and enablement (NeueHealth)",
   "category": "product",
   "dimension": "Owned and affiliated clinics",
   "statement": "NeueHealth operated 28 managed and affiliated risk-bearing clinics, worked with over 200,000 care provider partners and had nearly 75,000 patient relationships, about 30,000 in value-based arrangements.",
   "event_date": "2021-04",
   "date_precision": "month",
   "evidence_kind": "company_described_offering",
   "sources": [
    "BH28"
   ]
  },
  {
   "id": "bright-health-p05",
   "business": "ACA individual health insurance",
   "category": "product",
   "dimension": "Partner financial alignment",
   "statement": "Care Partner contracts used shared savings, capitation or other incentives, with a Joint Model of Health dividing accountability between plan and partner.",
   "event_date": "2021-06",
   "date_precision": "month",
   "evidence_kind": "company_described_offering",
   "sources": [
    "BH28"
   ]
  },
  {
   "id": "bright-health-p06",
   "business": "Medicare Advantage",
   "category": "product",
   "dimension": "Medicare Advantage line",
   "statement": "Medicare Advantage plans in 11 states covered about 108,000 people, focused on higher-risk special-needs populations; the company called itself the third-largest provider of Chronic Condition Special Needs Plans.",
   "event_date": "2021-06",
   "date_precision": "month",
   "evidence_kind": "company_described_offering",
   "sources": [
    "BH28"
   ]
  },
  {
   "id": "bright-health-p08",
   "business": "Value-based care delivery and enablement (NeueHealth)",
   "category": "product",
   "dimension": "Acquisitions",
   "statement": "Acquired Central Health Plan of California, Zipnosis and Premier Medical Associates, with Centrum pending.",
   "event_date": "2021-06",
   "date_precision": "month",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH28"
   ]
  },
  {
   "id": "bright-health-p09",
   "business": "ACA individual health insurance",
   "category": "product",
   "dimension": "Technology platform",
   "statement": "Described an end-to-end platform, the Bright Health Intelligent Operating System (BiOS), a data hub called Consumer360 and member tools called DocSquad.",
   "event_date": "2021-06",
   "date_precision": "month",
   "evidence_kind": "company_described_offering",
   "sources": [
    "BH28"
   ]
  },
  {
   "id": "bright-health-g07",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Growth plan at IPO",
   "statement": "Planned to expand to more states by 2022 and to drive membership growth through greater brand awareness.",
   "event_date": "2021-06",
   "date_precision": "month",
   "evidence_kind": "company_described_offering",
   "sources": [
    "BH28"
   ]
  },
  {
   "id": "bright-health-g06",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "IPO",
   "statement": "Priced its IPO at $18 a share, raising $924.3 million; 623,000 plan consumers in 14 states and 99 markets.",
   "event_date": "2021-06-23",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH6"
   ]
  },
  {
   "id": "bright-health-p10",
   "business": "Value-based care delivery and enablement (NeueHealth)",
   "category": "product",
   "dimension": "Clinic network scale",
   "statement": "131 owned and affiliated clinics and 170,211 value-based patients; the company reported a 22% lower medical cost ratio for aligned members and planned more than 25 clinic launches in Florida, Texas and North Carolina for 2022.",
   "event_date": "2021-09-30",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "BH7"
   ]
  },
  {
   "id": "bright-health-g10",
   "business": "Value-based care delivery and enablement (NeueHealth)",
   "category": "go_to_market",
   "dimension": "Strategic investors",
   "statement": "Cigna subsidiaries and NEA affiliates bought $750 million of convertible preferred stock to support expansion of the alignment model.",
   "event_date": "2022-01-03",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH5"
   ]
  },
  {
   "id": "bright-health-g11",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Broker commissions",
   "statement": "Told brokers it would stop paying commissions on new special-enrollment sign-ups from April 1, 2022, to \"suspend growth\" after \"extraordinary growth\".",
   "event_date": "2022-02",
   "date_precision": "month",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH42"
   ]
  },
  {
   "id": "bright-health-p11",
   "business": "ACA individual health insurance",
   "category": "product",
   "dimension": "Claims and risk-score operations",
   "statement": "Processed 40% to 50% of its 2021 claims volume in the fourth quarter, and its risk-score estimates proved inaccurate, raising payments owed to other carriers.",
   "event_date": "2022-03-02",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH23"
   ]
  },
  {
   "id": "bright-health-g09",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Membership growth",
   "statement": "Commercial membership rose from 145,459 to 611,078 during 2021, and the company served over one million plan lives at January 1, 2022.",
   "event_date": "2022-03-02",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH24"
   ]
  },
  {
   "id": "bright-health-g08",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Price position",
   "statement": "In the Urban Institute's 58-market sample Bright went from 8 markets in 2020 to 18 in 2022; it cut its Birmingham premium 16.3% to $522 as the lowest-cost silver plan and entered Atlanta at $405, the lowest-cost silver.",
   "event_date": "2022-04",
   "date_precision": "month",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH41"
   ]
  },
  {
   "id": "bright-health-g12",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "First market exits",
   "statement": "Announced it would leave the individual market in Illinois, New Mexico, Oklahoma, South Carolina, Utah and Virginia for 2023, under 5% of 2022 revenue.",
   "event_date": "2022-04-14",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH15"
   ]
  },
  {
   "id": "bright-health-g13",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Exit from the individual market",
   "statement": "Announced it would leave individual plans in its nine remaining states and Medicare Advantage outside California and Florida, releasing about $250 million of regulated capital, with $175 million of new preferred equity.",
   "event_date": "2022-10-10",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH35"
   ]
  },
  {
   "id": "bright-health-p12",
   "business": "ACA individual health insurance",
   "category": "product",
   "dimension": "Technology as built",
   "statement": "Multiple former employees told Twin Cities Business that the technology behind the company was \"more hype than code\"; Colorado cited more than 100 complaints and late claim payments.",
   "event_date": "2023-02-19",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "BH39"
   ]
  },
  {
   "id": "bright-health-g14",
   "business": "ACA individual health insurance",
   "category": "go_to_market",
   "dimension": "Risk-adjustment settlement",
   "statement": "Had paid $1.5 billion toward 2022 risk-adjustment obligations and signed $380 million of repayment agreements at 11.5% interest; NEA provided a $60 million credit facility.",
   "event_date": "2023-09-19",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH17"
   ]
  },
  {
   "id": "bright-health-p13",
   "business": "Medicare Advantage",
   "category": "product",
   "dimension": "Retirement",
   "statement": "Sold the California Medicare Advantage business (Brand New Day and Central Health Plan) to Molina Healthcare effective January 1, 2024.",
   "event_date": "2024-01-01",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH31"
   ]
  },
  {
   "id": "bright-health-p14",
   "business": "Value-based care delivery and enablement (NeueHealth)",
   "category": "product",
   "dimension": "Remaining business",
   "statement": "Renamed NeueHealth from January 29, 2024, with NeueCare (care management and clinics serving more than 150,000 consumers from Doral, Florida) and NeueSolutions (provider enablement, about 60,000 REACH ACO consumers).",
   "event_date": "2024-01-18",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH30"
   ]
  },
  {
   "id": "bright-health-g15",
   "business": "Value-based care delivery and enablement (NeueHealth)",
   "category": "go_to_market",
   "dimension": "Take-private agreement",
   "statement": "Agreed to be taken private by an NEA affiliate at $7.33 a share, an enterprise value of about $1.3 billion including preferred stock and the Hercules loan.",
   "event_date": "2024-12-23",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH20"
   ]
  },
  {
   "id": "bright-health-p15",
   "business": "Value-based care delivery and enablement (NeueHealth)",
   "category": "product",
   "dimension": "Business at take-private",
   "statement": "Served more than 600,000 consumers through owned clinics and more than 3,000 affiliated providers across ACA marketplace, Medicare and Medicaid.",
   "event_date": "2025-10-02",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "BH19"
   ]
  },
  {
   "id": "bright-health-g16",
   "business": "Value-based care delivery and enablement (NeueHealth)",
   "category": "go_to_market",
   "dimension": "Take-private closing",
   "statement": "Closed at $7.33 a share in cash and an enterprise value of about $1.465 billion; NEA and 12 holders of all preferred shares rolled their stock into the private company.",
   "event_date": "2025-10-02",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "BH19"
   ]
  }
 ]
}