Alignment Healthcare to Enter Texas in 2023, Introducing Its Award-Winning Medicare Advantage Plans to Medicare-Eligible Adults in El Paso, Hudspeth Counties
Alignment Healthcare (NASDAQ: ALHC) has announced its expansion into Texas, offering Medicare Advantage plans to approximately 140,000 Medicare-eligible adults in El Paso and Hudspeth counties, pending CMS approval. The company aims to address the specific healthcare needs of diverse senior populations in Texas, where a significant portion of the 65+ demographic resides, especially among Hispanic Americans. If approved, beneficiaries can choose from HMO, PPO, and chronic condition plans starting January 1, 2023, with additional benefits like non-emergency transportation and virtual exercise classes.
- Expansion into Texas expected to service 140,000 Medicare-eligible adults.
- Plans tailored to diverse senior populations, including Hispanic Americans.
- Multiple plan options, including HMO and PPO, available upon CMS approval.
- Dependence on CMS approval for expansion could delay services.
- Risks associated with attracting new members in a competitive market.
ORANGE, Calif., July 14, 2022 (GLOBE NEWSWIRE) -- Alignment Healthcare (NASDAQ: ALHC), a tech-enabled Medicare Advantage company, today announced more details of its expansion into Texas, extending its award-winning Medicare Advantage plans and highly rated care model to about 140,000 Medicare-eligible adults in El Paso and Hudspeth counties in 2023, pending regulatory approval from the Centers for Medicare & Medicaid Services (CMS).1
In 2019,
“By coming to Texas — one of the Top 3 most populous states for U.S. residents age 65 and older and the second-most populous among Hispanic American seniors — we plan to help make a difference in the lives of more seniors from diverse backgrounds by designing plans that are tailored to their specific care needs,” said Dawn Maroney, markets president, Alignment Healthcare. “We are eager to work with local doctors in the rural and westernmost areas of Texas, where the ratio of primary care physicians is lower, to improve senior access to the highest quality, affordable care.”
Medicare Advantage plans have shown to be popular among racially and ethnically diverse beneficiary populations, often some of the most vulnerable members of our health care system.4 Currently, Alignment offers Medicare Advantage prescription drug plans to Medicare-eligible adults in Arizona, California, Nevada and North Carolina, including plans that are tailored to address to unique health care needs of the Asian American and Hispanic communities.
If approved by CMS, Medicare-eligible beneficiaries in El Paso and Hudspeth counties would be able to choose Alignment Health Plan HMO, PPO and chronic condition special needs plan options during Medicare’s annual enrollment period, Oct. 15-Dec. 7, for coverage starting Jan. 1, 2023. 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.
Along with Texas, Alignment Healthcare plans to offer its Medicare Advantage prescription drug plans to seniors in Florida for the first time in four counties and grow its presence in eight additional counties across Arizona, California, Nevada and North Carolina in 2023, subject to CMS approval. Its popular Medicare Advantage plans are consistently ranked for exceptional quality by both CMS and its members, with a Net Promoter Score (NPS) of 64 in 2021 — nearly double the average NPS in the category based on data collected and made publicly available by Customer Guru.
For more information, visit www.alignmenthealthcare.com.
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
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
2 "2020 Profile of Older Americans,” Administration for Community Living, https://acl.gov/sites/default/files/Profile%20of%20OA/2020ProfileOlderAmericans_RevisedFinal.pdf
3 "2020 Profile of Hispanic Americans Age 65 or Older,” Administration for Community Living, https://acl.gov/sites/default/files/Profile%20of%20OA/HispanicProfileReport2021.pdf
4 “Medicare Advantage Offers High Quality Care and Cost Protections to Racially and Ethnically Diverse Beneficiaries,” Better Medicare Alliance,
https://bettermedicarealliance.org/wp-content/uploads/2021/06/BMA_2021-Q2-Data-Brief_6.15.21.pdf
FAQ
What is the significance of Alignment Healthcare's expansion into Texas?
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