Acquisition to add a proven 15%+ total cost of care savings model, a nationwide near- and in-home care and specialty network, and an incentive-aligned health plan architecture

Included Health, a new kind of healthcare company delivering personalized all-in-one healthcare to millions of people nationwide, today announced it has signed a definitive agreement to acquire Firefly Health, a clinically-integrated health plan and advanced primary care company that has demonstrated 15%+ in total cost of care savings while delivering 90% member satisfaction and proven results across preventive care, chronic disease management, and complex care. The transaction is expected to close in the third quarter of calendar year 2026, subject to customary regulatory review.

Building on Included Health's recently announced alternative plan design, this pending acquisition will bring together Included Health’s AI-native, clinician-in-the-loop platform with Firefly’s clinically-integrated health plan — anchored in primary care, a nationwide near- and in-home care and specialty network, and dynamic benefit design — to create a scaled, health plan alternative that gives employers nationwide a clear path to long-term savings by connecting employees to better care through a modern experience with predictable costs.

"We've spent years shoulder to shoulder with employers and their members, and we've heard the same frustration again and again — the system isn't built around what people actually need," said Owen Tripp, co-founder and CEO of Included Health. "That's why Included Health and Firefly share the core belief that investing in primary care and navigating people to quality is what actually lowers unnecessary costs — not narrowing networks or shifting costs to members. We've seen firsthand what works, and Firefly's proven results in total cost of care and member experience align and complement our core offerings. Together, we're giving employers a single, connected benefits experience that integrates plan design and administration, comprehensive care, and full system support to reduce friction, improve employee health, and lower costs."

Firefly Health's results are proven: in 2025, the company delivered a 15% reduction in total cost of care across its full Administrative Services Only (ASO) book of business compared to a risk-adjusted market benchmark, with every customer reporting savings and one exceeding 17%. These results are driven by combining NCQA-accredited team-based primary care with nationwide, quality-led navigation to high-value virtual and in-person providers.

The Case for a Clinically-Integrated Health Plan Alternative

Employers are facing the steepest healthcare costs in more than a decade, yet most solutions force a tradeoff of narrower networks, higher member cost-sharing, or a fragmented experience that has yet to deliver durable savings. The market wants something different: an integrated model where care delivery, navigation, and plan design work together to lower costs without sacrificing access or experience.

Included Health has spent more than a decade building exactly that foundation. Its national clinical team, spanning primary care, behavioral health, specialty care, and complex case management, already supports tens of millions of members, guided by one of the most comprehensive provider quality engines in the market and powered by an AI-native experience. Firefly Health adds critical depth to that foundation: an NCQA-accredited advanced primary care model, a nationwide ecosystem of 2,300+ in-person, in-home, and specialty partners, and a proven health plan model with a track record of delivering results.

"If you want different results, you need a different model," said Fay Rotenberg, CEO of Firefly Health. "Firefly flips the traditional model on its head. We’ve built a true health plan alternative where advanced primary care, data-driven navigation, and dynamic plan design work in harmony. Our plan architecture aligns incentives so that the highest-quality care is always the most affordable choice — and when you do that, the clinical and financial results naturally follow. Together with Included Health, we’re bringing a trust-first, high-engagement model to a national stage — with the technology, clinical reach, and plan infrastructure to deliver it for any employer, anywhere."

"Nearly 41% of employers are actively considering alternative plan design," Tripp added. "The challenge has never been about interest in alternative models — it's been finding a partner with the clinical credibility, the proven results, and the end-to-end model to make it work. We're not asking employers to take a bet on a new approach. We're offering them a path that's already working."

To learn more about Included Health's all-in-one approach and the pending Firefly Health acquisition, visit includedhealth.com/alternative.

About Included Health

Included Health is a new kind of healthcare company that delivers personalized all-in-one healthcare to millions of people nationwide. We provide healthcare access, answers, and advocacy through a modern experience designed to treat people better — mind, body, and wallet. It's all included: comprehensive virtual and in-person care, system-wide navigation and care coordination, and 24/7 support for every clinical and administrative need. Our members see better doctors, experience better outcomes, and have more healthy days, all at lower cost. Learn more at includedhealth.com.

About Firefly Health

Firefly Health is a primary care and health plan provider serving more than 20,000 individuals nationally. Firefly's clinically-integrated health plan seamlessly integrates primary care, chronic condition management, mental healthcare, and specialty care with intelligent provider navigation and a novel benefit design to align incentives for outcomes, experience, and true cost control for members and employers alike. In 2025, Firefly Health delivered 15%+ lower total cost of care across its ASO book of business, with member satisfaction exceeding 90%. Learn more at Fireflyhealth.com.

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Included Health has signed an agreement to acquire Firefly Health to deliver a scalable, clinically-integrated health plan alternative with better care, lower costs, and a simpler experience.