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Starting Health Insurance Bind knows that his Medicare plans are not like the others.
Bind was founded in 2016 by Tony Miller, who had previously created two companies that he had sold to UnitedHealth Group. Bind raised $ 70 million from investors such as UnitedHealth, Lemhi Ventures (of which Miller is the managing partner) and Ascension Ventures, the venture capital arm of the giant Ascension hospital system.
Bind provides health plans to employees who purchase insurance through their work and covers more than 10,000 people.
The Bind health plan offers are a little different from the insurance you've probably subscribed to at work. They are based on the idea that it is easier to determine how much your health care will cost in advance.
To do this, the plans eliminate deductibles and co-insurance in favor of fixed amounts that you know you have to pay before you get treatment.
Franchises can force members of the health care system to pay thousands of dollars for medical care and prescriptions before their health insurance starts, while co-insurance requires members to pay a percentage of the total cost of care.
Bind displays information about treatment options and their costs in their application and online, and hopes that individuals will tend to choose less expensive health care options that will produce equally good care.
"The insurance does not seem complicated for consumers," said Business Insider Miller, CEO of Bind.
Read more: A senior health executive pointed out in a nutshell what was happening in the US health insurance system
Still, it takes a while to get used to the new approach.
To help you, Bind has set up this slide set to convince employers to join Bind. Some slides have been omitted from the version provided to Business Insider.
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