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This is an old revision of this page, as edited by 15 (talk | contribs) at 18:31, 9 August 2021 (→Services: expand, fix). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

  • Comment: Hi editors! I am submitting a draft for review on behalf of Sidecar Health after reviewing and hopefully addressing editor feedback on my previous attempt. Because I have a conflict of interest, I am not creating the article myself. (My full disclosure can be found on my user page and I'll place the connected contributor template on the Talk page here as well). Sidecar Health has now reached Unicorn status and been the subject of detailed reporting in numerous reliable sources, so I believe it meets Wikipedia's notability guidelines. I'm looking forward to feedback from editors. Thanks, R Elagazy (Sidecar Health) (talk) 18:57, 4 August 2021 (UTC)
Sidecar Health, Inc.
Company typePrivate
IndustryHealth insurance
Founded2018
FoundersPatrick Quigley and Veronica Osetinsky
HeadquartersEl Segundo, CA
Key people
Patrick Quigley (CEO)
Veronica Osetinsky (SVP of Operations)
Stuart Battersby (CFO)
Websitesidecarhealth.com

Sidecar Health is an American health insurance technology company.

History

Sidecar Health was founded in 2018 by Patrick Quigley and Veronica Osetinsky.[1][2] The pair were previously executives at Katch, an online advertising technology provider which helped enroll members in individual health plans.[1] Sidecar Health was founded to address access and affordability gaps that prevented customers from purchasing Affordable Care Act plans.[1][3] The company manages and sells fixed indemnity plans, underwritten by partner insurers, which allow users to pay providers for care directly at the point of service.[1][4][2]

Sidecar Health initially raised $18 million in funding through venture capital firms GreatPoint Ventures and Morpheus Ventures.[5][6] In August 2019 the company launched its services in Texas, as the state's large uninsured population offered a sizable potential customer base.[5][3] By the end of the year, Sidecar Health had expanded to Alabama, Arkansas, Florida, Georgia, Kentucky, and North Carolina.[7][8][9]

In July 2020, Sidecar Health raised $20 million in a new round of funding that included Comcast Ventures, Kauffman Fellows, and 23andMe CEO Anne Wojcicki.[10]

In January 2021, Sidecar Health closed its Series C funding round, led by Drive Capital, at $125 million—bringing it to a $1 billion valuation, often referred to as Unicorn status.[4][2] Funding supported staffing and further expansion, along with investment in new insurance products.[11] In March 2021, Sidecar Health expanded to its 16th state, Utah.[12]

Services

Sidecar Health manages and sells fixed indemnity health insurance plans.[1] These plans allow users to pay providers directly with cash, often at lower rates than those negotiated through insurance companies.[4][11] However, such alternative insurance plans are generally not available to those with pre-existing conditions, according to the Kaiser Family Foundation. Sidecar Health also does not provide its services to patients who had major medical issues recently.[7] Payments are made through a Sidecar Health debit card.[1][4] The Sidecar Health mobile app provides a price comparison tool allowing users to view different medical services from local providers, and see what other Sidecar Health members have been charged.[11]

Operations

Sidecar Health is headquartered in El Segundo, CA.[1] As of 2021, the company operates in 16 states: Alabama, Arkansas, Arizona, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, Ohio, Oklahoma, North Carolina, South Carolina, Tennessee, Texas, and Utah.[12][4] Patrick Quigley is Sidecar Health’s CEO.[4]

References

  1. ^ a b c d e f g Billington, Francesca (August 7, 2020). "SideCar Raises $20M for Its New Approach to Healthcare". dot.LA. Retrieved July 20, 2021.
  2. ^ a b c Chatenay, Victor (January 28, 2021). "Insurtech Sidecar Health scores megaround to become a unicorn". Insider. Axel Springer SE. Retrieved July 20, 2021.
  3. ^ a b Mathews, Chris (October 31, 2019). "Lured by large uninsured population, California health insurance co. launches in Texas". Houston Business Journal. American City Business Journals. Retrieved July 20, 2021.
  4. ^ a b c d e f Shieber, Jonathan (January 26, 2021). "LA-based Sidecar Health's low-cost, cash-pay health insurance service is now valued at $1 billion". TechCrunch. Verizon Media. Retrieved July 20, 2021.
  5. ^ a b Ellingson, Annlee (August 9, 2019). "This week in L.A. funding news: Snap ups debt financing to $1.1B... Dogdrop opens". L.A. Biz. American City Business Journals. Retrieved July 20, 2021.
  6. ^ "Sidecar Health secures $18m in funding; forays into Texas market". Life Insurance International. Verdict Media. August 7, 2019. Retrieved July 20, 2021.
  7. ^ a b Hurtibise, Ron (November 9, 2019). "Cheaper than Obamacare? Budget-priced plans can cost far more if you get sick". South Florida Sun-Sentinel. Tribune Publishing. Retrieved July 20, 2021.
  8. ^ Cavagnaro, Hank (September 28, 2019). "New company aims to help people with cheaper insurance". KVUE. KVUE-TV. Retrieved July 20, 2021.
  9. ^ "Sidecar Health makes a play for North Carolina". International Travel & Health Insurance Journal. Voyageur Publishing & Events. December 13, 2019. Retrieved July 20, 2021.
  10. ^ Ellingson, Annlee (July 23, 2020). "Sidecar Health raises $20 million to help users shop for health services". L.A. Biz. American City Business Journals. Retrieved July 20, 2021.
  11. ^ a b c Chen, I-Chun (January 26, 2021). "Sidecar Health raises $125M to scale 'cash price' insurance model". L.A. Biz. American City Business Journals. Retrieved July 20, 2021.
  12. ^ a b "Sidecar Brings Modern Indemnity Health Insurance to Utah". ThinkAdvisor. ALM Media Properties. March 17, 2021. Retrieved July 20, 2021.

Category:American companies established in 2017 Category:Financial services companies established in 2017 Category:Health insurance companies of the United States

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