Sidecar Health launches group health product for employers 51 or older – InsuranceNewsNet

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Sidecar Health, the company dedicated to providing transparent and simple insurance options based on spot pricing, today announced the launch of a fully insured group health insurance product in Ohio. New product is major health insurance, includes HSA compatible options and leads to an average increase of 39%1 savings compared to traditional insurance rates negotiated in the state.

The new employer-sponsored product, initially available to Ohio-based employers and groups of at least 51 employees, offers the same industry-leading benefits included in Sidecar Health’s other offerings: the ability to see n any doctor, transparent up-front pricing, and access to Sidecar Health’s US-based member care team. Sidecar Health plans to quickly expand the offering to other states.

“Everyone deserves to have access to care. Sidecar Health aims to provide our members with full transparency and the ability to purchase the best care possible independently,” said Patrick Quigley, Founder and CEO of Sidecar Health. “Expanding our offerings to employers was a natural next step for Sidecar Health, and we’re excited to continue expanding our offerings to reach and benefit more and more people.”

Sidecar Health’s mission is to simplify the health insurance process and bring significant cost savings, increased flexibility and transparency to health plans. Not only can members see in advance how much they’ll receive for any service, but they can also compare prices between providers to find the care that’s best for them. Employers benefit from significantly reduced rates compared to other insurance plans while providing their employees with excellent health insurance benefits. Members and vendors love Sidecar Health because its Sidecar Health VISA card instant payment technology allows employees to pay their vendors in advance, without the traditional hassle of insurance paperwork.

Individuals should have the freedom to choose which provider they want to see, whether they are purchasing coverage on the individual market or on their company’s health plan. While other insurers are shrinking their networks and locking down their favorite pharmacies, Sidecar Health is taking a different approach, giving consumers and employers more choice, transparency and simplicity.

About Sidecar Health

Sidecar Health is changing health insurance. Unlike traditional insurance, which sits between the patient and the doctor, Sidecar Health members can pay for care directly when they receive it using the Sidecar Health VISA benefit card. Thus, members can consult any doctor, all coverage is transparent and members save 40% compared to traditional insurance. We believe this is medicare the way it should be.

Founded in 2018, Sidecar Health has raised over $175 million to date from Drive Capital, BOND, Menlo Ventures, Tiger Global, Cathay Innovation, GreatPoint Ventures and Morpheus Ventures. For more information visit: www.sidecarhealth.com

*Sidecar Health Group fully insured health insurance plans are underwritten by Sidecar Health Insurance Company.

1 *Savings estimate based on a study of over 1 billion claims comparing the self-pay (or cash-pay) prices of a frequency-weighted basket of procedures to insurer-negotiated rates for the same. Claims were collected between July 2017 and July 2019. R. Lawrence Van Horn, Arthur Laffer, Robert L. Metcalf. 2019. The Transformative Potential of Price Transparency in Health Care: Benefits for Consumers and Providers. Health management policy and innovation, volume 4, number 3.

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