Alignment Healthcare, which became a listed company on Nasdaq last year, .. .. [+]
Alignment Healthcare, a fast-growing health insurance policy for the elderly, will expand into two new markets in 2023, launching Medicare Advantage in Florida and Texas.
Alignment, which became a publicly traded company in the popular and competitive Medicare Advantage business last year, plans to expand to Florida and Texas “to additional counties in the four states in which it currently operates.” He said it would include a start. Alignment already sells Medicare Advantage in four states: Arizona, California, Nevada and North Carolina.
The Florida and Texas markets have great potential and are growing. “By 2023, we will reach a total of 8.2 million Medicare-eligible seniors in 52 counties in six states,” the alignment said, with additional expansions requiring regulatory approval. If approved, seniors will be able to select from Alignment’s various health insurance options for the 2023 plan year during the general enrollment period beginning October 15, this year.
“A quarter of the elderly in our country live in California, Florida and Texas,” said John Kao, Founder and Chief Executive Officer of Alignment. “With both the number and needs of older people increasing, it is important to provide our model to more people and accelerate their positive impact on elderly care in this country.”
The Medicare Advantage Plan has a contract with the federal government to provide seniors with additional benefits and services such as illness management and nurse support hotlines, as well as vision, dental care and wellness programs. And in recent years, the Medicare & Medicaid Service Center has increased its popularity among the elderly, allowing the Medicare Advantage Plan to cover more supplementary benefits.
According to adjustments earlier this year, as of December 31, 2021, health insurance membership was 86,100, up 26% year-on-year. As a result, total revenue for the fourth quarter of last year increased 23% year-on-year to $ 298.3 million. Alignment will announce its second quarter 2022 earnings on August 4.
“Too many older people remain vulnerable without the care adjustments and individual attention they urgently need,” Kao said. “Prioritizing seniors is at the heart of our model and growth strategy. Our data-driven approach has the potential to improve the quality of our members’ lifestyles and healthcare experiences in all regions. I believe. “
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