Company Overview
About Devoted Health
Devoted Health is a healthcare company founded in 2017 by brothers Todd Park and Ed Park, both of whom have deep experience in U.S. health system infrastructure — Todd served as Chief Technology Officer of the U.S. Department of Health and Human Services under the Obama administration. Devoted Health builds and operates Medicare Advantage plans: private health insurance plans for Americans aged 65 and older that contract with the Centers for Medicare & Medicaid Services (CMS) to deliver Medicare benefits, often with additional supplemental coverage. Devoted differentiates through a technology-forward model that integrates insurance, care coordination, and clinical services — using data analytics and digital tools to proactively manage member health and reduce the costly acute episodes that drive up Medicare spending.
Business Model & Competitive Advantage
Devoted Health has raised $2.62B in total funding, reaching a valuation of $12.6 billion — making it one of the most highly capitalized private health insurance companies in the U.S. Investors include SoftBank Vision Fund (which led the $1.15B Series D in October 2021), Andreessen Horowitz, GV (Google Ventures), Premji Invest, and others. The company offers plans in 29 states as of 2026 — nine of which are new additions for the 2026 plan year — and offers multiple plan types including HMO, PPO, and Chronic Condition and Dual-Eligible Special Needs Plans (SNPs). Devoted's plans carry an average CMS star rating of 4.22 out of 5 for 2026, above the industry average of 4.02, reflecting strong clinical quality and member satisfaction outcomes.
Competitive Landscape 2025–2026
Devoted competes with incumbent Medicare Advantage giants including UnitedHealthcare, Humana, and BCBS affiliates, as well as other venture-backed Medicare Advantage insurgents like Alignment Health and Clover Health (publicly traded). Its technology platform and care integration model position it as a next-generation Medicare Advantage operator.
Key Differentiators
Strong Challenger
Devoted Health is an established challenger with significant market presence and competitive offerings in Insurance & Risk.
Frequently Asked Questions
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