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Nation’s First-Ever On-Demand Health Insurance Has Arrived | Business Wire

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MINNEAPOLIS–(BUSINESS WIRE)–Goodbye, surprise medical bills. Hello, on-demand health insurance. Bind,

the first-ever on-demand health insurance model, is now available to

self-insured employers across the US. The national expansion is backed

by funding from Ascension Ventures, Lemhi Ventures and UnitedHealthcare.

Bind provides coverage from the first dollar spent and allows members to

add coverage at any time throughout the year. Bind partners with

employers to offer a health plan that is better, faster and cheaper.

  • Better: The right coverage—exactly when you need

    it.

  • Faster: Care options with precise costs at your

    fingertips—instantly.

  • Cheaper: Coverage at a 10-15% savings—without

    compromising quality.

“Americans have never experienced this kind of health insurance. One

that provides first dollar coverage and allows them to add coverage at

any time throughout the year. One where their treatment options and

their share of the cost are made crystal clear before they receive care.

It’s simple—what you see is what you get,” said Tony Miller, Bind CEO.

“Bind empowers consumers to take back control of their health, providing

information and enabling them to make informed treatment decisions.”

How does Bind work? Bind’s “Core” coverage includes preventive care;

primary and specialty care when you’re not feeling well; urgent,

emergency and hospital care; chronic care for long-term and recurring

illnesses; and pharmacy needs. Copays are clear and simple. There’s a $0

deductible. No restrictions on pre-existing conditions.

The on-demand structure of Bind means you can pay for additional

coverage when you need it. “Add-Ins” are optional coverages for

treatment you can plan ahead for—such as knee replacement or hernia

repair. Keeping that coverage out of Core lowers monthly premiums.

“Employers need comprehensive medical benefits that are truly affordable

for them and their employees,” added Miller. “With Bind, we’ve pioneered

a solution for making medical care affordable—even for part-time

workers. Bind is for progressive employers who want to change the status

quo because they care about their employees and they want to attract and

retain talent.”

Dove Healthcare of Eau Claire, Wisconsin, was the very first employer to

offer the Bind plan. “Bind is innovative because it empowers people to

make decisions based on cost, in a way they’ve never been able to do

before,” said Jenny Risinger, regional director of human resources, Dove

Healthcare. “In health care, prices can vary heavily from one facility

to the next—for equal quality. Our employees appreciate having the

choice to get a procedure done for a lower cost. Most of all, employees

value the straightforward transparency and the lower monthly premiums

they get with Bind.” To hear from Dove Healthcare employees, listen

to their take on Bind.

“People are hungry for health care price certainty—that’s exactly what

Bind offers. We built Bind because we passionately believe that fear of

unknown costs shouldn’t hold people back from getting the care they

need,” said Miller.

“Ascension Ventures believes the health insurance market is due for its

next innovation, and we believe that’s Bind,” said Ryan Schuler Managing

Director of Ascension Ventures. “We see Bind’s model as a natural way to

lower insurance costs for America’s businesses and put more money in

people’s paychecks by promoting efficient treatments and rewarding

providers for making the transition to value-based care. The health

systems we represent also view Bind as a catalyst to transform how

health insurance and provider organizations work together to meet the

needs of consumers for convenience, access and affordability.”

Bind is powered by UnitedHealthcare’s proprietary networks, as well as

its data and analytics capabilities.

For more information about how Bind on-demand health insurance works,

visit yourbind.com.

About Bind
For employers looking for innovative ways to

lower costs, Bind on-demand health insurance promises to make health

care more affordable for everyone—without compromising coverage or

quality. The Minnesota-based company was founded in 2016 by Lemhi

Ventures and several health industry veterans, including Dave Dickey,

Glen Eiden, Tony Miller, Shawn Wagoner and Matthew Wiandt, who have

extensive experience in health innovation. The management team includes

founders from Definity Health, Carol Corp. and Redbrick Health, as well

as executives from Allina, Blue Cross Blue Shield, HealthPartners,

Mercer, Optum and UnitedHealthcare. Because Bind’s programs are

employer-sponsored, self-insured health plans, Bind is not an insurance

company. Learn more about Bind and On-Demand Health Insurance at

yourbind.com.

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