Orange County, Calif.-based Alignment Healthcare, which entered the California payer market in 2014, has recorded 42 percent compounded annual growth each year since launching in 2013.
The health plan, which only offers Medicare Advantage, Part D and supplemental policies, covers about 60,000 members across three states. In its five years since going to market, Alignment has partnered with healthcare companies like Humana and Sacramento, Calif.-based Sutter Health, and is advised by former CMS administrators Mark McClellan, MD, PhD, and Andy Slavitt.
On Aug. 20, Alignment said it plans to double the footprint of the territories it covers and the number of plans it will offer during the 2020 enrollment period, expanding to 16 counties with 22 health maintenance organization and preferred provider organization products.
John Kao, the CEO of Alignment, said the health plan is going to exceed $800 million in revenue and will approach $1 billion in revenue heading into the 2020 enrollment period. The reason? Medicare Advantage, Part D and supplemental plan success, he told Becker’s in an interview.
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Here, Mr. Kao discusses the key characteristics of Alignment’s plans, its provider partnerships and what he thinks about “Medicare for All.”
Date: August 29, 2019
Source: Becker’s Hospital Review