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‘Bind’ – billed as nation’s first-ever ‘on demand’ health insurance – now available to self-insured employers

Insurance Forums Staff

Bind, which calls itself “the first-ever on-demand health insurance model,” is now available to self-insured employers across the U.S. 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 it bills as being “better, faster and cheaper.” Per a June 28 Bind press release:

  • 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, Wis., 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.”

“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.

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 www.yourbind.com.



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