Friday Health Plans

What Friday Health Plans does

Friday Health Plans was a direct-to-consumer health insurance company that sold ACA-compliant individual and family health plans primarily through public health insurance marketplaces. Founded in 2015 and headquartered in Alamosa, Colorado, the company positioned itself around simplified, consumer-centric products targeting affordability in the individual market. It operated through a parent entity, Friday Health Insurance Company, Inc., and a network of state-licensed subsidiaries spanning Colorado, Georgia, Nevada, North Carolina, Oklahoma, and additional markets, ultimately reaching more than 330,000 members across seven U.S. states.

The company generated revenue exclusively through recurring health insurance premiums from individual ACA marketplace enrollees, with no broker-driven distribution and direct relationships with members. Its GTM motion was direct-to-consumer, supported by an English-and-Spanish bilingual online presence to reach diverse member populations. Friday Health Plans raised approximately $246 million across multiple equity and debt tranches from 2015 through 2022, with Leadenhall Capital Partners and Vestar Capital Partners as primary backers. The May 2022 round of $120 million ($70M equity plus $50M debt) was explicitly earmarked for multi-state expansion.

As of October 1, 2024, Friday Health Plans and all six of its state-licensed subsidiaries entered court-administered liquidation, ceasing active operations. Electronic claims submissions were discontinued and provider claims are now routed by mail to the Oklahoma Receivership Office. The company is no longer writing new business and is operating solely in run-off mode under court supervision.

Name

Friday Health Plans

Legal name

Friday Health Insurance Company, Inc.

Website

https://fridayhealthplans.com

Company type

Private

Founded year

2015

Operating status

Closed

Headcount range

501–1,000 employees

Short description

Friday Health Plans was a direct-to-consumer ACA-compliant health insurance provider offering individual and family coverage across seven U.S. states to over 330,000 members. The company entered court-administered liquidation in October 2024.

Ownership category

akta.pro rank

Product category

Health Insurance

NAICS

Direct Health and Medical Insurance Carriers (524114)

SIC

Accident & Health Insurance (6321)

akta.pro primary industry

ACA Marketplace (On-Exchange) Individual Plans (FSAIAEAA)

akta.pro secondary industry

Off-Exchange Individual Major Medical Plans (FSAIAEAB)

Keywords

• Health insurance plans
• ACA marketplace coverage
• Individual health insurance
• Consumer health plans
• Health insurance provider

Headquarters

HQ city

Alamosa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Health Insurance Premiums: Friday Health Plans generated revenue through health insurance premium payments from members enrolled in their ACA-compliant individual health plans. Members paid recurring premiums for coverage, with the company managing risk pools across seven states.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Friday Health Plans sold affordable ACA-compliant individual and family health insurance plans directly to consumers through health insurance marketplaces across seven U.S. states. The company managed risk pools and member coverage through state-licensed subsidiaries in Colorado, Georgia, Nevada, North Carolina, and Oklahoma, with Friday Health Insurance Company, Inc. as the parent insurer. Distribution was direct-to-consumer with no broker or employer channels.

Product overview

Friday Health Plans was a health insurance company offering affordable ACA-compliant individual health plans across seven states, with a consumer-centric and simplified product approach. The company operated through multiple state-licensed subsidiaries (Friday Health Plans of Colorado, Georgia, Nevada, North Carolina, and Oklahoma, plus a parent entity Friday Health Insurance Company). As of late 2024, all entities are in court-administered liquidation and no longer actively writing new business.

Differentiator

Problem solved

Functional benefit

Products and services

• ACA-Compliant Health Plans Affordable individual and family health insurance plans compliant with the Affordable Care Act (ACA), distributed direct-to-consumer through health insurance marketplaces across seven U.S. states. Targeted at individuals and families seeking simplified, lower-friction coverage options.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• Oscar Health: Consumer-focused individual ACA marketplace insurer using a direct-to-consumer technology platform; most direct comparable in target customer, distribution model, and product set to Friday Health Plans.
• Ambetter (Centene): Largest ACA marketplace carrier by enrollment; competes head-to-head with Friday in the individual exchange channel across multiple overlapping states.
• Bright Health Group: ACA-focused individual and family plan carrier with a multi-state expansion strategy that closely mirrored Friday's playbook, including the same exposure to concentrated ACA risk pools and capital strain.
• Molina Healthcare: Government-program-focused health insurer with a meaningful ACA marketplace presence, offering a benchmark for how individual-market books can be paired with Medicaid and Medicare lines to manage risk-pool volatility.

Broad incumbents

• Cigna: Multi-line carrier with a smaller ACA individual footprint; provides a contrast to Friday on capital strategy and exposure to individual-market underwriting risk.
• Humana: Health insurer with individual ACA marketplace plans in select states; relevant comparable for product structure and individual-market underwriting economics, even though Humana's core franchise is Medicare.
• Centene Corporation: Parent of Ambetter and the dominant ACA marketplace underwriter; the diversified Medicaid + ACA + Medicare portfolio illustrates the scale advantages Friday lacked as a pure-play ACA carrier.
• Kaiser Permanente: Integrated payer-provider with a California-anchored individual plan offering; useful contrast on vertically integrated care delivery as an alternative to Friday's network-rental model.
• UnitedHealthcare: Largest U.S. health insurer with a national ACA marketplace footprint; represents the scale incumbent benchmark against which ACA-focused challengers like Friday competed.
• Anthem (Elevance Health): Multi-state Blue Cross Blue Shield licensee that underwrites ACA individual plans across many of the same states Friday operated in, providing scale, diversified product mix, and regulatory capital depth Friday lacked.

Market position

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/FridayHealthPln

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds7 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Friday Health Plans