Forbes February 27, 2024
Alignment Healthcare Tuesday reported a net loss in its fourth quarter of $47.2 million as the provider of Medicare Advantage coverage to seniors experienced a 21% increase in health plan members.
Alignment ended the fourth quarter of last year with 119,200 members, which was a 21% increase compared to the year-ago period. Meanwhile, total health premium revenue was up 27.5% to $459 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 while more health insurers enter the market to sell such coverage. Of the nation’s seniors eligible for Medicare, slightly more than half are choosing Medicare Advantage, plans that contract with the federal government...
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