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Startup Health Insurers Oscar, Clover Signal Course Changes After 2Q

  • Aug 19
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    Aug 19, 2022

    The four publicly traded startup health insurers — Oscar Health, Inc., Bright Health Group, Inc., Clover Health Investments Corp. and Alignment Healthcare, Inc. — continued to post losses in the second quarter of 2022, but two out of the four lost less money than they did in the prior-year period. Beyond their finances, however, some of the companies are making changes to their business strategies in a bid to set a stronger course for the future. 

    Medicare Advantage-focused Clover Health, for instance, revealed that CEO Vivek Garipalli will be replaced by Andrew Toy, the company’s current president, starting on Jan. 1, 2023. In an Aug. 8 news release, Clover said the move “is the culmination of a succession plan we’ve had in place since Andrew joined Clover as CTO and led the development of Clover Assistant,” referring to the company’s proprietary clinical decision-making tool.  

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    • Leslie Small

    Leslie has been working in journalism since 2009 and reporting on the health care industry since 2014. She has covered the many ups and downs of the Affordable Care Act exchanges, the failed health insurer mega-mergers, and hundreds of other storylines spanning subjects such as Medicaid managed care, Medicare Advantage, employer-sponsored insurance, and prescription drug coverage. As the managing editor of Health Plan Weekly and Radar on Drug Benefits, she writes and edits for both publications while overseeing a small team of reporters who also focus on the managed care sector. Before joining AIS Health, she was a senior editor for the e-newsletter Fierce Health Payer, and she started her career as a copy editor at multiple local newspapers. She graduated with a dual degree in journalism and political science from Penn State University.

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