Peak Health Alliance announced that they will not be sponsoring insurance plans for 2023. This is an unfortunate result of Bright HealthCare’s surprise announcement to no longer provide health insurance coverage nationally to individuals and commercial organizations as of January 1, 2023. Bright HealthCare has been the insurance partner of the Peak Health Alliance since its inception.
“We have already begun conversations with potential new carrier partners,” said Anne Ladd, CEO of Peak Health. “Bright’s unexpected decision to exit the market so close to the beginning of open enrollment means we will not be able to sponsor an insurance product in 2023, but we are committed to finding a new, reputable carrier partner for 2024.”
Peak explored options to continue sponsoring coverage with other insurance carriers into 2023, but none were deemed viable. Rather than put its members and providers at risk, Peak leadership is focusing on rebuilding for 2024.
It is important to note: All current Peak plans remain fully in effect for the remainder of 2022.
Peak Health Alliance provides a variety of healthcare plans to rural and mountain areas in eight Colorado counties. Currently, Peak serves nearly 10,000 members with affordable healthcare plans in Dolores, Grand, Lake, La Plata, Montezuma, Park, San Juan and Summit counties. Peak has been able to advocate for competitive rates, saving members as much as 46% on their premiums. (See graphic.)
Bright’s announcement to exit from the commercial market nationally means Peak Health Alliance members will need to find new coverage for next year. The 2023 open enrollment period begins on November 1, 2022.
“While not having an insurance product in the market for 2023 is difficult,” Ladd explained, “we have to do what is best for our members in the long run. Keep in mind, we were built by our members, for our members and we are governed by our members. We plan to have a product offering in 2024.”
Until then, individuals and families can apply for federal premium subsidies and explore available coverage options at Connect for Health Colorado. Businesses should consult with their broker.
About Peak Health Alliance:
Peak Health Alliance is a member-led nonprofit health insurance purchasing cooperative serving 8 counties on the Western Slope. Peak’s mission is to leverage the purchasing power of an entire community by negotiating on their behalf for more competitive rates. Peak partners with local providers, hospitals and carriers to create comprehensive and affordable plans for residents and businesses. More information is available at www.peakhealthalliance.org.