Forbes August 1, 2024
Alignment Healthcare Thursday reported a $24 million loss in its second quarter as the provider of Medicare Advantage coverage to seniors experienced a 56% increase in health plan members that beat Wall Street analysts’ expectations.
Alignment ended the second quarter with 175,100 members, which was a 56 percent increase compared to the year-ago period. That boosted total second quarter revenue 47 percent to $681.3 million.
The revenue increase comes amid an intensely competitive market as the number of seniors enrolling in private Medicare Advantage plans hits an all-time high with more than half of eligible beneficiaries signing up for such privatized coverage. Meanwhile, Medicare Advantage plans have been struggling this year as seniors with a pent up need for healthcare...
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