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No Out-of-Pocket Health Plan Sees Major Funding
3 Dec
Summary
- Curative secured $150 million in Series B funding.
- The company's model reduces inpatient admissions by 30%.
- Curative's plan offers zero out-of-pocket costs for members.
Curative, an innovative health insurance company, has announced the closure of its Series B funding round, securing $150 million at a $1.3 billion valuation. This significant investment will enable the company to scale its unique employer-sponsored health insurance model nationwide. The model focuses on preventative health through member engagement, a strategy that has already resulted in a substantial 30% reduction in inpatient hospital admissions for participating employer groups within six months of adoption.
Initially operating in Texas, Florida, and Georgia, Curative plans to expand its services to Maryland and Washington D.C. in the near future. Future expansion phases will include Indiana, Ohio, and New York, with a long-term goal of national coverage. A key investment area for the company is leveraging artificial intelligence to automate and streamline the insurance process, addressing the industry's traditionally document-heavy nature and improving responsiveness for members.
The company's core offering features a zero out-of-pocket health plan, removing financial barriers like deductibles and co-pays. Members receive this benefit by completing an annual preventive health visit. This approach has proven highly effective, with 98% of members engaging in preventive care, thereby preventing the escalation of health issues into more costly treatments and hospitalizations. This model shifts the focus from reactive care to proactive wellness.
