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Sidecar Health
Healthtech
Sidecar Health is a California-based health insurance company offering flexible, transparent-pricing health plans that let members choose any doctor and pay providers directly using a Sidecar payment card.
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Sidecar Health was founded in 2018 by Patrick Quigley, based on the observation that traditional health insurance plans typically restrict members to a specific, often relatively limited network of contracted healthcare providers, and members frequently have very limited visibility into what a given healthcare service will actually cost before receiving care, making it difficult for even cost-conscious, engaged healthcare consumers to shop around for better value the way they would for most other significant purchases, since insurance-negotiated prices and members' actual costs are often opaque and vary substantially between different providers for the exact same medical service. Sidecar Health's insurance plans are designed around price transparency and provider choice, giving members a defined benefit amount for a given medical service based on researched, reasonable market pricing, and letting members visit any licensed healthcare provider of their choice, paying that provider directly using a Sidecar-issued payment card rather than being restricted to a specific contracted provider network, an approach the company argues incentivizes members to shop for reasonably priced, quality care while still receiving insurance coverage for the researched benefit amount corresponding to a given medical service. If a member chooses a healthcare provider charging more than the defined benefit amount for a given service, they are responsible for the price difference, creating a financial incentive for members to seek providers charging closer to typical market rates, while the transparency of Sidecar's defined benefit amounts, published to members in advance for common medical services, gives members meaningfully more advance cost visibility than is typical with traditional insurance plans reliant on individually negotiated, often confidential provider network pricing. Sidecar Health has marketed its plans primarily to individual consumers purchasing their own health insurance and to employers seeking an alternative to traditional network-restricted health insurance plan designs for their employees. The company has raised very substantial venture funding from investors including Drive Capital, Tiger Global, and Menlo Ventures, reaching a valuation exceeding $1 billion, positioning itself as a distinctive alternative to traditional network-based health insurance plan designs.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
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