Bright Health, an insurance startup that sells Medicare Advantage and Affordable Care Act plans, has raised $200 million in a new funding round from 10 investment firms — bringing its total venture capital fundraising to about $440 million.
The bottom line: The company had 23,000 ACA members and 2,100 MA enrollees through the first 9 months of 2018, leading to $91.3 million of revenue and a $4.5 million net loss, according to state insurance documents. Like Oscar and Devoted Health, Bright Health is looking to make money from these two specific types of health insurance by keeping people within very limited networks of hospitals and doctors, and by saying its technology is better than incumbent insurers'.
Americans can now expect to live 78.6 years, according to new data released by the Centers of Disease Control, a slight drop from 78.7 years in 2016.
Why it matters: Globally, humans are increasingly expected to live longer and healthier. But with a growing number of opioid overdose deaths and climbing suicide rates in the United States, that trend has reversed over the past three years — against the norm for most developed nations.
Altria Group, one of the world's largest producers and marketers of tobacco and cigarettes, is reportedly in talks to take a significant minority stake in e-cigarette company Juul, reports CNBC.
The big picture: Though Juul is reconstructing its marketing plan to curb usage among teens, the company still has a majority of the market share in e-cigarettes and is valued at $16 billion. The business for e-cigarettes is expected to rise at an annual growth rate of 17%, higher than 12% in 2017, according to a Wells Fargo analysis of Nielsen data.
Democrats and a lot of independents want Congress to tackle health care, but Republicans aren’t into it. That’s the takeaway from the Kaiser Family Foundation's latest health care tracking poll.
Congress' criminal justice reform bill has some implications for the opioid crisis.
Details: High-level fentanyl and heroin traffickers would not be eligible for credits to reduce their sentence. These credits are available to lower-level inmates — many of whom have a substance abuse disorder — and can be earned through participation in treatment programs. The bill also would require the Bureau of Prisons (BOP) to submit a report on a pilot program for medication-assisted treatment.