Achieved Adjusted EBITDA Profitability
Clover Health achieved full year adjusted EBITDA profitability in 2024, marking a significant milestone in its financial performance.
Medicare Advantage Membership Growth
The company surpassed 100,000 Medicare Advantage members during AEP, reflecting a 27% year-over-year growth and a 95% AEP retention rate.
Improved Star Ratings
Over 95% of members are now in four-star rated PPO plans, with nation-leading clinical measures, setting the stage for higher benchmarks in 2026.
Counterpart Health Launch
Successfully launched Counterpart Health, implementing first external partnerships and establishing a pipeline of potential customers.
Revenue Growth
Insurance revenue grew 9% year-over-year in both the fourth quarter and full year 2024, reaching $1,345 million.
Improved Benefit Expense Ratio and MCR
Insurance benefit expense ratio improved to 82.8% and MCR to 73.5% in Q4 2024, showing strong improvements year-over-year.
Strong Financial Position
Ended Q4 2024 with $438 million in restricted and unrestricted cash and investments, providing a strong balance sheet position.