EL SEGUNDO, Calif., October 26, 2021 (GLOBE NEWSWIRE) – Sidecar Health, the company dedicated to providing simple and transparent insurance options based on spot prices, today announced the launch of a new Affordable Care Act (ACA) product line, starting with over-the-counter plans available in Ohio for plan year 2022. This new product meets all ACA requirements while costing approximately 24% less than other state ACA plans. Sidecar Health is an Ohio-based licensed insurer and expects it to continue to expand the availability of its ACA product to other states for the 2023 plan year.
âACA is a critical driver of health coverage in the United States, but the cost is still prohibitive for many, many people. We are proud that our new plans contain all of the ACA protections and benefits consumers rely on, while providing the flexibility, transparency and affordability that Sidecar Health is known for, âsaid Patrick Quigley, CEO of Sidecar Health . âWe look forward to bringing our unique cash payment model to the ACA market and helping thousands of people access quality care that was previously beyond reach. “
Sidecar Health operates on the simple premise that everyone has the right to take control of their health care and receive the âcash priceâ from the provider for the services they need. On average, customers who pay in cash get 40% savings1 on health services compared to insurance negotiated rates. With Sidecar Health, members can take advantage of these reduced costs, without network constraints or surprise bills. Using the Sidecar Healthcare Calculator, members can search for providers based on the average cash price available for specific services in their area and pay at the point of service using their Sidecar VISA Benefit Card Health. With insight into the true cost of health services, members actively participate in their health care; like other consumer-oriented industries, better informed consumers make better choices.
Sidecar Health also offers Access Plan, a non-ACA “excluded benefits” product that is currently available to more than 150 million Americans in 17 states and helps consumers in those states cover the cost. cost of health services with cash payment from Sidecar Health. model. Sidecar Health plans to expand this product to several other states next year. Sidecar Health’s excluded benefit plans are available year-round to consumers in Alabama, Arkansas, Arizona, Florida, Georgia, Indiana, Kentucky, Maryland, Michigan, Mississippi, Ohio, Oklahoma, North Carolina, North Carolina South, Tennessee, Texas and Utah.
About Sidecar Health Sidecar Health is driving health insurance forward. Unlike traditional insurance, which sits between patient and doctor, Sidecar Health members can pay for care directly when they get it using the Sidecar Health VISA benefit card. As a result, members can see any doctor, all coverage is transparent, and members save 40% compared to traditional insurance. We believe this is health insurance as it should be.
Founded in 2018, Sidecar Health has raised more than $ 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
1 Estimate of savings based on a study of over a billion claims comparing the self-payment (or cash payment) prices of a frequency-weighted basket of procedures to the rates negotiated by insurers for 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 healthcare: benefits for consumers and providers. Health management policy and innovation, volume 4, number 3
Media Contact Denton Baird The Bulleit Group [email protected] (919) 616-7937
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