Firefly Well being is launching its virtual-first well being plan marketed in the direction of small to mid-sized employers.
The providing, coming about 5 months after the startup introduced a $40 million Collection B spherical, is touted as a “care and protection” plan, providing digital main and behavioral healthcare, in addition to entry to in-person care through its companions.
The plan is at the moment accessible to employers in Massachusetts, Maine and Ohio. Firefly stated it goals to increase into extra states over the following 12 months.
“The launch of the Firefly Well being Plan places inside attain our mission of delivering towards half-priced healthcare that’s twice nearly as good,” Fay Rotenberg, Firefly Well being CEO, stated in a press release.
“We’ve lengthy noticed the ability of aligning care and protection beneath one roof. At this time, we’re happy to launch an progressive protection method and marry that to our very fashionable tackle virtual-first care supply.”
WHY IT MATTERS
Firefly is pitching its new plan as an answer for smaller employers who’re priced out of the standard medical health insurance market.
A 2021 survey by the Kaiser Household Basis and the Purchaser Enterprise Group on Well being discovered even massive employers are involved concerning the rising prices of well being protection. Practically 90% of government respondents to the survey believed the price of offering well being advantages to staff would grow to be unsustainable within the subsequent 5 to 10 years.
These excessive prices are being shifted to staff via larger deductibles. In response to the Bureau of Labor Statistics, the provision of high-deductible well being plans for personal trade staff elevated from 15% in 2010 to 45% in 2018.
Firefly can also be selling “clear, easy protection” with out deductibles and copays in its new plan.
“Everybody deserves entry to reasonably priced, high quality care rooted in empathy. It is a great alternative to take again management over healthcare and tackle the monetary pressure it locations on people and companies,” Rotenberg stated in a press release.
THE LARGER TREND
Digital care and telehealth boomed through the pandemic as suppliers and sufferers lower down on in-person care.
Although telehealth utilization has usually fallen this 12 months, some suppliers and different stakeholders imagine will probably be troublesome to place the digital care genie again within the bottle. In response to a brand new survey from telehealth vendor Amwell and HIMSS Analytics, greater than half of hospital and well being system leaders say they’re planning to extend their telemedicine funding over the following two years.
Simply final month, Blues insurer CareFirst launched a digital care apply for its members in Maryland, D.C. and northern Virginia.