New Colorado healthcare collective picks health insurance partners

Peak Health Alliance, a Colorado collective of businesses and employers seeking to lower healthcare costs, announced Thursday it has chosen health insurance partners.

The group will work with Rocky Mountain Health Plans and Bright Health to offer employer group and individual insurance for businesses and residents in Summit County, where Breckenridge is located. In a news release, Peak said the carriers will offer a broad range of benefits with innovative coverage features to improve access and lower the cost of care.

Peak, which represents roughly 6,000 people, negotiated a package of discounted rates for medical services directly with the area’s main health system, Centura Health. It then shopped those rates to health insurers to see who could design the most favorable plan.

Mark Spiers, Peak’s board chairman, said in a statement that final rates still need to be approved by the state’s insurance commissioner.

“We are incredibly pleased that in 2020 residents of Summit County should have access to products that will be about 20% less than current market offerings,” he said.

He added those reductions do not factor in the impact of the reinsurance bill signed by Gov. Jared Polis on May 17.

Bright Health provides coverage in Colorado, Arizona, Alabama, Tennessee, Ohio and New York City. The company was co-founded by Bob Sheehy, former CEO of UnitedHealthcare, and Dr. Tom Valdivia, former chief health consumer officer at Definity Health.

Rocky Mountain Health Plans was founded in Grand Junction and offers both commercial, Medicare and Medicaid coverage. As of April, it had about 216,000 enrollees, according to its website. The company announced a partnership with UnitedHealthcare.