Bright Health

How it happened

Bright Health Group was a U.S. health-insurance technology company that reached a ~$11B valuation at its 2021 IPO. Heavy underwriting losses forced it to exit its insurance markets and sell off assets to survive; a reverse stock split and market-cap collapse cut its value by roughly 99% before NEA took it private as NeueHealth in 2025. Glassdoor reviews from the descent read like a post-mortem written in real time: insiders blamed a premature IPO and breakneck multi-state expansion, described claims operations that never worked properly despite billions in funding, and from late 2022 onward described bracing for their own layoffs as one business line after another shut down.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.