Health Insurer Curative Valued at $1.28 Billion in Fund Raise

Curative, a startup health insurance company that aims to reduce costs by encouraging people to get preventative care, has raised more than $150 million in a bid to redesign how employer health benefits work.

The funding round values Curative at about $1.28 billion, the Austin, Texas-based company said. It is working to address skyrocketing employer health insurance expenses as inflation, pricey drugs and chronic diseases drive up costs. Family premiums for employer-sponsored health insurance reached an average of $26,993 this year, according to the health researcher KFF.

Curative’s approach differs from typical insurers. It eliminates cost-sharing like copays ...