Sana, an insurtech startup based in Austin, has announced it is expanding its operations to Ohio to provide local businesses with comprehensive and more accessible healthcare plans.
The expansion to the new market comes less than a month after Sana closed a $20 million Series A funding round, which provided the startups with capital to boost its expansion plans into new markets. With the addition of Ohio, Sana’s coverage is now available in Arizona, Oklahoma, Texas, Illinois, and Kentucky. Will Young, Sana co-founder and CEO, said about the expansion:
“Sana measures its success in the number of people we can help by bringing better healthcare at lower costs. Ohio has a thriving business climate and over 850,000 small businesses, making the state a natural next market for us. We look forward to giving small and midsize businesses in Ohio a better choice in the quality of health benefits they provide their workforce, rather than more of the same exorbitant ‘negotiated rates’ for care that is difficult to access and navigate.”
Sana has been providing Fortune 500 and small businesses a streamlined insurance experience resulting from its simplified plans which allow them to save up to 20% in premiums while providing high-quality coverage to their employees. The decision to disrupt the local market in Ohio follows the startup’s mission to provide alternatives to the oligopolistic health insurance market that has become the rule in the United States.
According to the 2020 census, Ohio is the 7th most populous state in the United States. However, according to the Health Policy Institute of Ohio’s April 2021 Health Value Dashboard, the state ranks 47 out of 50 when it comes to health value despite the average local spending more in healthcare than their counterparts in other states. Gisela Girard, president and co-founder of Creative Civilization, referred to how Sana’s approach has benefited her boutique marketing and advertising agency by saying:
“When I look at the extent of coverage we get from Sana plans, it’s refreshing. Our employees love all the $0 healthcare options. The affordability of Sana is like nothing we experienced with our previous insurer of over 20 years, and the level of care and personalized support we receive is outstanding.”
By making high-quality health insurance more accessible, Sana aims to fulfill its mission to change how healthcare coverage is thought about in the United States. The startup is planning to continue its expansion in the united states, allowing small businesses and startups to ensure the health of their employees in an increasingly hostile market.