GLOBE LIFE ACQUIRES EVRY HEALTH

Rhea-AI Summary

Globe Life Inc. to acquire Evry Health, a B2B health insurance company focused on lowering healthcare costs through software automation. Evry Health offers expansive benefit plans with no copays or deductibles for in-network care.

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• Globe Life Inc. is expanding its portfolio by acquiring Evry Health, a business-to-business health insurance company. This acquisition will allow Globe Life to deliver a digital-first experience in the group health market. Evry Health's innovative approach of lowering healthcare costs through software automation is expected to attract mid-size employers and their customers. The acquisition presents new opportunities for both companies to improve healthcare access and benefits.

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• None.

MCKINNEY, Texas, Oct. 13, 2023 /PRNewswire/ -- Globe Life Inc. (NYSE: GL) announced it has signed an agreement to acquire Evry Health.

Founded in 2017, Evry Health is a business-to-business health insurance company that differentiates itself from traditional PPOs and HMOs by lowering the cost of healthcare through software automation with a mobile-first experience. The company's expansive benefit plans encourage access to care and preventative health by offering no copays or deductibles for in-network care.

"Globe Life is trusted for keeping generational promises. We are excited to build a future together where we can serve to deliver a digital-first experience in the group health market. Globe Life accelerates Evry Health's mission of bringing humanity to health insurance," said Chris Gay, Evry Heath's Chief Executive Officer.

"We are excited about the addition of Evry Health to the Globe Life family of companies," said Globe Life Co-Chairmen and Chief Executive Officers, Matt Darden and Frank Svoboda. "Evry Health has been on a mission to use today's technology to build a better health insurance platform for mid-size employers and their customers. Through the strength of the Globe Life brand, we look forward to creating new opportunities to support Evry Health as they strive to improve healthcare access and benefits."

Evry Health is located in Dallas with innovative group health insurance plans also available in Austin, Houston, and San Antonio that provide a nationwide network for health coverage in addition to tailored wellness plans at no cost to employers or employees.

About Globe Life: Globe Life (NYSE: GL) is headquartered in McKinney, TX, and has more than 15,000 insurance agents and 3,000 corporate employees. With a mission to Make Tomorrow Better, Globe Life and its subsidiary companies issue more life insurance policies and have more policyholders than any other life insurance company in the country, with more than 16.8 million policies in force (excluding reinsurance companies; as reported by S&P Global Market Intelligence 2022). Globe Life's insurance subsidiaries include American Income Life, Family Heritage Life, Globe Life And Accident Insurance Company, Liberty National Life, and United American. More information is available at GlobeLifeInsurance.com.

About Evry Health: Evry Health is bringing humanity to health insurance making healthcare high-quality with expanded benefits, more transparency, more access to care, and a personalized, human approach. Evry Health strives to ensure members live happier, healthier lives. Health plans are dually accredited for medical quality by the NCQA and the URAC. More information is available at EvryHealth.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/globe-life-acquires-evry-health-301956623.html

SOURCE Globe Life Inc.

FAQ

What is Globe Life Inc. acquiring?

Globe Life Inc. is acquiring Evry Health, a business-to-business health insurance company.

What sets Evry Health apart from traditional PPOs and HMOs?

Evry Health differentiates itself by lowering the cost of healthcare through software automation with a mobile-first experience. They offer expansive benefit plans with no copays or deductibles for in-network care.

Where is Evry Health located?

Evry Health is located in Dallas, with group health insurance plans available in Austin, Houston, and San Antonio.

What are the benefits of the acquisition for Globe Life Inc.?

The acquisition allows Globe Life Inc. to expand its presence in the group health market and deliver a digital-first experience. It also presents new opportunities to improve healthcare access and benefits.

What are the benefits of Evry Health's approach to healthcare?

Evry Health's software automation and expansive benefit plans help lower healthcare costs and encourage access to care and preventative health.

Will there be any changes to Evry Health's existing plans and coverage?

There is no mention of changes to Evry Health's existing plans and coverage in the PR.