Health insurance startup Bright Health is picking up another California Medicare Advantage plan, according to a Jan. 6 news release.
Bright Health signed an agreement to acquire Central Health Plan of California. If the deal secures regulatory approval, Bright Health will serve about 110,000 Medicare Advantage policyholders.
Employees and leadership at Central Health Plan are expected to join Bright Health's team. The proposed transaction is set to close in this spring, about a year after Bright Health closed its acquisition of Brand New Day in April 2020. Brand New Day is also a Medicare Advantage plan in California.