Centivo, a new health plan for self-funded employers anchored around leading providers of value-based care, announced today that it has been named as a preferred health plan offering by Equity Healthcare, the healthcare management division within Blackstone’s Portfolio Operations Team. The plan is available now for Portfolio Companies with a January 1, 2022 renewal date or later.
With this agreement in place, Blackstone Portfolio Companies that are self-funded can now offer an affordable health plan to their employees with no deductible, no coinsurance, free primary care, and simple and predictable copays, all while accessing high quality care. Portfolio Companies can offer Centivo as their sole health plan administrator or alongside other coverage options of their choice.
“We are thrilled to be working with Blackstone and their portfolio companies,” said Ashok Subramanian, Founder and CEO of Centivo. “We share their commitment to bringing affordable, high-quality health plans to employers and their employees, and we very much look forward to bringing this commitment to life in the months and years ahead.”
“Since we formed the Blackstone - Equity Healthcare team back in 2008, we have made tremendous strides in lowering health plan costs while at the same time, helping our self-funded Portfolio Companies offer highly valuable health benefits for their employees and families,” said Andreas Mang, Operating Partner and Chief Executive Officer of Equity Healthcare. “We believe that the next wave of cost savings and quality improvement will be achieved by getting people to the better doctors and provider systems, and we believe Centivo is the right firm to help us achieve that.”
One Blackstone Portfolio Company has already seen outstanding results with Centivo. Member employees of this company who utilize the Centivo health plan have incurred significantly less out-of-pocket health costs to date versus fellow employees using other plans.
This agreement with Equity Healthcare marks another growth milestone for Centivo, which has now expanded into markets across the United States including Metro New York, Southern California, Central Florida, northern North Carolina, Nebraska, Iowa and Wisconsin.