Minneapolis health insurance start-up Bind Benefits launched an on-demand service that allows customers to only buy parts of their coverage Minneapolis-based Bind is not an insurer, but it designs health plans for big employers that pay their own bills. if and when they need it. AP and several large employers have already expressed an interest in the service. The scheme could cut health insurance costs by as much as 40 percent as consumers would not pay for coverage they never used. Bind, which designed health plans rather than working as an insurer itself, launched earlier in last spring and was planning to expanding nationally with UnitedHealthcare ’s support.
Minneapolis health insurance start-up Bind Benefits launched an on-demand service that allows customers to only buy parts of their coverage if and when they need it. AP and several large employers have already expressed an interest in the service. The scheme could cut health insurance costs by as much as 40 percent as consumers would not pay for coverage they never used. Bind, which designed health plans rather than working as an insurer itself, launched earlier in last spring and was planning to expanding nationally with UnitedHealthcare ’s support.