Startup Medicare Advantage insurer Alignment Healthcare is expanding into 16 new markets for the 2022 plan year, nearly doubling its footprint.
Alignment's plans will be available in 38 markets across Arizona, California, Nevada and North Carolina next year, reaching 6.9 million potential beneficiaries. The expansion is pending regulatory approvals.
Open enrollment for Medicare kicks off Oct. 15.
Dawn Maroney, president of markets and CEO of Alignment Health Plan California, told Fierce Healthcare that the company is built on a senior-focused model, and that approach drove its selection in new markets.
"The markets we've chosen for 2022 are very senior-oriented markets," Maroney said.
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The insurer is also launching a slate of new plan designs, pending regulatory approvals. Alignment's new PPO plans include a virtual component that offers more convenient and personalized care options.
"It's not just what we’re offering," Maroney said. "It’s how we’re delivering on the care, the service and access for that individual."
Alignment is adding new dual eligible and special needs plans in certain regions, the insurer announced.
In addition, the company announced it has inked a deal with Cedars-Sinai Medical Center to bring the provider into its network, also effective Jan. 1.
Alignment, which went public, recently released its second-quarter financial results, in which it reported year-over-year membership growth of 32%, hitting approximately 84,700. Revenues were up by double digits as well, reaching $309 million.
The insurer also posted a $44.8 million profit loss in the quarter, according to the report.