Enhance Health, a newly established health insurance agency based in Florida, has launched its services.
Led by industry veterans Matt Herman, Gary Jenkins and Michael Lagalante, the broker will primarily focus on serving the Medicare Advantage market as well as individual and family plans segments.
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Enhance Health will particularly seek to develop a Medicare insurance distribution and care navigation platform and help clients select and enrol in appropriate plans.
It commenced operations will $150m of total capital. The capital commitment was led by Bain Capital Insurance, the insurance investing and solutions business of Bain Capital.
The proceeds will provide the agency with necessary support and resources as well as pursue M&A and organic initiatives.
Enhance Health CEO Matt Herman said: “More than 10,000 people in the US turn 65 every day and are tasked with choosing their health insurance plans in a crowded and often confusing market.
“Small differences between plans may result in very different cost and care outcomes for the consumer. It’s clear there is a large addressable market for solutions that enable consumers to make better informed decisions about their benefits and care needs. Our vision is to simplify the Medicare experience so that consumers can get the care they need.
“Bain Capital Insurance brings deep experience and resources that will help achieve our mission to be a true-value added partner to our customers and to make the shopping experience for insurance less complicated, time intensive and costly.”
