Forbes November 2, 2023
Alignment Healthcare Thursday reported a loss in its third quarter of $35 million even as the startup provider of Medicare Advantage coverage grows its membership to more than 115,000.
Alignment, which improved its bottom line from a $40.2 million loss in the year-ago period, ended the third quarter of this year with 115,600 members, which was an 18% increase compared to the year-ago period. Meanwhile, total revenue was up nearly 27% to $456.7 million.
Alignment’s growth in Medicare Advantage comes during a period of unprecedented competition for seniors with much larger players like Humana, UnitedHealth Group, CVS Health’s Aetna health insurance unit, and an array of Blue Cross and Blue Shield plans also growing their health plans. More than half...
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