Alignment Health Plan to Expand Northern and Central California Service Area, Making Award-Winning Plan Benefits Available to 82% of Medicare-Eligible Adults Statewide
Alignment Healthcare plans to expand its Medicare Advantage prescription drug plans to Alameda, Fresno, and Madera counties in California in 2023, pending regulatory approval. This expansion aims to serve over 5.4 million residents, representing 82% of California's Medicare-eligible population. The company's diverse plan offerings include low-cost HMOs and chronic condition special needs plans. They also provide benefits such as non-emergency transportation and a 24/7 concierge service. Additionally, Alignment is set to expand into 11 other states, enhancing its service reach.
- Expansion into three additional California counties enhances market reach and access to Medicare plans.
- Ability to serve over 5.4 million residents increases potential membership base.
- Diverse plan offerings cater to various healthcare needs of seniors.
- Expansion is contingent on regulatory approval from CMS, creating uncertainty.
- Risks associated with attracting new members and entering new markets may impact growth.
Alignment Healthcare to extend its Medicare Advantage prescription drug plans to Alameda, Fresno and Madera counties in 2023, pending regulatory approval
ORANGE, Calif., July 20, 2022 (GLOBE NEWSWIRE) -- To provide more choices, greater benefits and better access to care, Alignment Healthcare (NASDAQ: ALHC) plans to extend its tech-enabled Medicare Advantage plans to three more counties in California — Alameda, Fresno and Madera — pending regulatory approval from the Centers for Medicare & Medicaid Services (CMS). If approved, Alignment Health Plan benefit packages would be available in a total of 21 California counties, reaching more than 5.4 million residents, or
The company currently offers a wide range of low- to no-cost monthly premium HMO, PPO, chronic condition and dual-eligible special needs plans, all designed to cater to the diverse needs of seniors and other eligible Medicare beneficiaries across the Golden State. Its planned expansion includes Alameda County, the seventh most populous county in California and one of the most ethnically diverse regions in the Bay Area, and the agricultural hubs of Fresno and Madera counties, which comprise the third-largest metropolitan area in Northern California, behind the San Francisco Bay Area and Greater Sacramento.
“We are growing to bolster much-needed health care and wraparound support for seniors across our home state of California, where the largest number of Medicare-eligible adults in the country live,” said Dawn Maroney, markets president, Alignment Healthcare, and CEO of Alignment Health Plan. “Alignment’s Medicare Advantage prescription drug plans stand out for their senior-first, data-driven design, and we are excited at the prospect of extending benefits like 24/7 access to a doctor and VIP concierge services into Alameda in the Bay Area and Fresno and Madera in the heart of California’s Central Valley."
If approved by CMS, Medicare-eligible residents of Alameda, Fresno and Madera counties would have access to Alignment Health Plan HMO and chronic condition special needs plans, which are tailored for individuals who have a qualifying condition such as diabetes or heart disease. In addition, they would also have access to popular Alignment Health Plan benefits such as non-emergency transportation, virtual exercise classes and grocery benefits, as well as 24/7 ACCESS On-Demand Concierge service.
Alignment Health Plan is consistently ranked for exceptional quality by individual members and CMS, earning a Net Promoter Score of 64 in 2021 — nearly double the average NPS in the category based on data collected and made publicly available by Customer Guru. It was recognized with the 2022 Senior Choice Gold Award for excellence in 2022 Medicare plan benefits value and performance in Stanislaus, San Francisco, San Joaquin and Santa Clara counties in California.
Along with its anticipated growth in California, the company also announced its planned expansion into 11 additional counties across Arizona, Nevada, North Carolina, Florida and Texas in 2023, subject to approval by CMS.
While Medicare beneficiaries may qualify for special enrollment periods throughout the year, Medicare’s annual enrollment period for coverage beginning Jan. 1, 2023, starts Oct. 15 and ends Dec. 7. For more information, visit www.alignmenthealthcare.com.
________________________
1 Centers for Medicare & Medicaid Services Medicare Advantage/Part D Contract and Enrollment Data, June 2022 MA State/County Penetration, https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/MCRAdvPartDEnrolData/MA-State-County-Penetration
About Alignment Healthcare
Alignment Healthcare is a consumer-centric platform delivering customized health care in the United States to seniors and those who need it most, the chronically ill and frail, through its Medicare Advantage plans. The company provides partners and patients with customized care and service where they need it and when they need it, including clinical coordination, risk management and technology facilitation. Alignment Healthcare offers health plan options through Alignment Health Plan, and also partners with select health plans to help deliver better benefits at lower costs.
Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are subject to risks and uncertainties and are based on assumptions that may prove to be inaccurate, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to attract new members and enter new markets, including the need for certain governmental approvals; our ability to maintain a high rating for our plans on the Five Star Quality Rating System; risks associated with being a government contractor; changes in laws and regulations applicable to our business model; changes in market or industry conditions and receptivity to our technology and services; results of litigation or a security incident; the impact of shortages of qualified personnel and related increases in our labor costs; and the impact of COVID-19 on our business and results of operation. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our Annual Report on Form 10-K for the year ended December 31, 2021, and the other periodic reports we file with the SEC. All information provided in this release is as of the date hereof, and we undertake no duty to update or revise this information unless required by law.
Media Contact
Priya Shah
mPR, Inc. for Alignment Healthcare
alignment@mpublicrelations.com
FAQ
What new counties is ALHC expanding its Medicare Advantage plans to in 2023?
How many residents will ALHC's plans cover in California after the expansion?
What services will be available with ALHC's Medicare Advantage plans in the new counties?
When does the Medicare annual enrollment period start in 2022 for ALHC's plans?
