Sidecar Health, a California based innovative health insurance plans provider, has recently raised $18m in funding.
FREMONT, CA: The El Segundo, CA, headquartered Sidecar Health, is in news for raising $18 million in funding. Morpheus Ventures and GreatPoint Ventures were leading the round.
Headed by Veronica Osetinsky and Patrick Quiegly, CEO, Sidecar Health focuses on enabling clients having healthcare insurance plans to customize those plans as per their requirements.
Policy holders are allowed to consult any medical professionals of their choice, so that they are not constrained to a specific network. Also, the enterprise ensures that its clients gain transparent insights into their health expenditures to avoid unexpected costs.
For making this possible, the firm provides its clients with a payment card that they can use to make payments for health-related expenses as soon as they get it. This way, the clients can take advantage of possible discounts for making upfront payments. There will be detailed information on the charges levied by several healthcare providers practicing in the vicinity.
Additionally, the clients would be able to know how much to be paid as per their plans for health services owing to the coverage extended by the plan in question at published and fixed amounts.
The money received through funding would be leveraged by the company to expand its operations, besides its business reach. Further, in the course of the next twelve months, several additional states will be witnessing SideCar health expanding into them.
The Texas expansion is a timely one as healthcare expenditure continues to skyrocket. As of now, almost five million people in Texas are uninsured, informs the Centre for Medicaid and Medicare Services.
As the newly received funds are likely to cause more expansion, hiring by SideCar health is expected to increase as well.