Datapoint: Clover Health Announces Restructuring

Medicare Advantage-focused startup insurer Clover Health on April 17 outlined restructuring efforts as it — like other insurance startups — struggles to achieve profitability. The biggest change is a new partnership with payer administrator UST HealthProof, which will take over Clover’s “core plan operations.” The company will also lay off 10% of its workforce. Clover anticipates annual cost savings of about $30 million beginning in 2024. The startup currently enrolls 82,398 Medicare Advantage members in six states.

Source: AIS’s Directory of Health Plans

0 Comments
AIS Health Staff

AIS Health Staff

Related Posts

businessman-using-laptop-computer-and-digital-tablet-analyzing-sales-data-and-graph-chart
September 26

Datapoint: CMS Reinstates Medicaid Coverage for 500,000 People

Read More
businessman-using-laptop-computer-and-digital-tablet-analyzing-sales-data-and-graph-chart
September 25

Datapoint: N.C. Blues Says Specialty Pharmacy Management Reduced Premiums

Read More
businessman-using-laptop-computer-and-digital-tablet-analyzing-sales-data-and-graph-chart
September 21

Datapoint: Idaho Completes Medicaid Redeterminations

Read More

GAIN THERAPEUTIC AREA-SPECIFIC INTEL TO DRIVE ACCESS FOR YOUR BRAND

Sign up for publications to get unmatched business intelligence delivered to your inbox.

subscribe today