Datapoint: Clover Health to Exit ACO REACH Model

Clover Health Investments Corp. announced on Dec. 1 that it will exit the ACO Realizing Equity, Access, and Community Health (REACH) Model at the end of the 2023 performance year. The startup insurer noted that “the decision will have no impact on its ACO REACH beneficiaries, and Clover will continue to fulfill all of its obligations under the ACO REACH Program for the 2023 performance year.” Clover missed its pre-discount benchmark by $2.69 million for 2022, an improvement from a nearly $16.9 million loss in 2021. For 2023, Clover offered plans in 15 states, but CEO Andrew Toy said in a press release that “we have not seen a clear line to profitability in this business and it has also become quite clear that, over the same period of time, we have made far greater and swifter strides on our path to profitability in our Medicare Advantage insurance business.” Clover currently enrolls 80,631 MA members in six states.

Source: AIS’s Directory of Health Plans

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