About Friday Health Plans
Friday Health Plans filed for bankruptcy in June 2023. Friday Health Plans operates a healthcare management company built for the health insurance environment. It offers services such as basic coverage, benefits like free primary visits, free generic drugs, and urgent care for emergency situations as part of their health plans. Friday Health Plans was formerly known as Melody Health Insurance. The company was founded in 2015 and is based in Alamosa, Colorado.
Expert Collections containing Friday Health Plans
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Friday Health Plans is included in 3 Expert Collections, including Insurtech.
Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
The digital health collection includes vendors developing software, platforms, sensor & robotic hardware, health data infrastructure, and tech-enabled services in healthcare. The list excludes pureplay pharma/biopharma, sequencing instruments, gene editing, and assistive tech.
Latest Friday Health Plans News
Aug 28, 2023
RALEIGH – North Carolina Insurance Commissioner Mike Causey is reminding customers of Friday Health Plans of North Carolina that they have until the end of the day on Thursday, Aug. 31 to choose a new health insurance plan. Consumers who purchased health insurance from FHP-NC through the federal exchange must choose a new exchange health insurance plan by that time to avoid a gap in coverage. Those that fail to do so by that date will still have until Oct. 30 to obtain coverage, but will have a gap in coverage from the date all FHP-NC plans are terminated on Aug. 31 until the effective date of new coverage. In June, FHP-NC consented to being placed into receivership to protect North Carolina policyholders due to its reported insolvency and inability to raise additional funds from outside investors. To ensure FHP-NC’s policyholders have an opportunity to replace their current exchange coverage before it is terminated, the North Carolina Department of Insurance coordinated with the US Center for Consumer Information and Insurance Oversight to implement a special enrollment period for members to select another exchange health insurance plan. Finally, providers should continue to service all FHP-NC members and should not demand payment other than the proper cost share associated with the medical service and relevant health plan. Providers will be paid for all covered claims for services performed by Aug. 31. FHP-NC is a subsidiary of the Friday Health group. The Friday Health group is Colorado-based and provides health coverage to individuals and families in multiple states. Other states have placed subsidiaries of the Friday Health Group into receivership. Consumers seeking more information can contact the NCDOI help line at 855-408-1212 or by visiting www.ncdoi.gov . AmeriHealth Caritas has announced that it will honor the payments Friday Health Plan members have already made toward their 2023 plan year deductibles and out-of-pocket maximums if they join AmeriHealth Caritas Next in North Carolina during the special enrollment period through Oct. 30. In July, the Colorado Division of Insurance asked the courts in that state to liquidate Friday Health Plans, meaning that their health plans in Colorado will terminate on Aug. 31. Friday Health announced in early June it would cease operations by the end of the year in the seven states in which it does business. Friday covers between 300,000 and 400,000 in the states of Colorado, Georgia, Texas, Nevada, New Mexico, North Carolina and Oklahoma and employs between 300 and 400 employees, the Alamosa (Colo.) Daily Courier reported. Friday Health is based in Alamosa. “Friday Health Plans has grown incredibly quickly, which is a testament to the strength of our mission of delivering affordability, simplicity and outstanding customer service,” the company said on its website . “Unfortunately, Friday has been unable to scale our financial infrastructure to match the pace of our growth and secure the additional capital required to run our business. While we are deeply disappointed, we agree with the decision of our state regulators that it is necessary to wind down Friday’s business operations over time in accordance with the regulations in the states where we are operating.” Friday stopped offering coverage in Texas and New Mexico in November amid concerns about the increasing costs of enrolling more members. Older
Friday Health Plans Frequently Asked Questions (FAQ)
When was Friday Health Plans founded?
Friday Health Plans was founded in 2015.
Where is Friday Health Plans's headquarters?
Friday Health Plans's headquarters is located at 700 Main Street, Alamosa.
What is Friday Health Plans's latest funding round?
Friday Health Plans's latest funding round is Bankrupt/Admin.
How much did Friday Health Plans raise?
Friday Health Plans raised a total of $460.68M.
Who are the investors of Friday Health Plans?
Investors of Friday Health Plans include Leadenhall Capital, Vestar Capital Partners, Peloton Capital Partners, Colorado Impact Fund, Peloton Equity and 3 more.
Who are Friday Health Plans's competitors?
Competitors of Friday Health Plans include Oscar and 4 more.
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