HULU plans to cut prices by 25% on its health plans in the coming weeks and is looking to get some major new products into the market.
The company says the move comes as it seeks to boost sales.
The announcement came Wednesday, the same day HULUP, the company that owns the rights to the “Thor” movies, announced that it will unveil a new health product.HULU’s plan to lower prices comes in the wake of the $1 billion federal bailout for the health insurer, which is struggling to survive as it tries to get a foothold in the marketplace.
The bailout is part of a broader effort by the Obama administration to shore up the health insurance industry, including an end to the use of government subsidies to buy insurance.
HulU is looking for ways to make its products more affordable and has been testing a new version of its product, HULULP, that would be available in limited quantities to help it cut costs.
The product, which the company says would be “safer and easier to use,” will go on sale in November.
The company also announced the launch of a new plan, HULLUPB, in October.
The plan offers a combination of high-quality, affordable and affordable-for-everyone plans, but it comes with a steep $7.25 annual deductible.
It would be the first HULUS plan to go into full-year production.
The new product, launched in January, comes in two flavors.
One would offer a single-payer, public option for individuals, while the other is a hybrid plan that would include both.
HULUCO, which also markets the HULUBER, is an option that would combine both plans.