The company provides Medicare Advantage (MA) insurance plans and operates as a direct contracting entity with the U.S. government.
[14] In 2018, Clover Health partnered with MindMate, an app developer that makes games designed to maintain or improve cognitive function in older adults.
[16] In March 2019, the company said it needed to shift its focus to health care industry experience and reduced its staff by approximately 20 percent.
[20] The company responded to the report and said it did not need to disclose the inquiry because it was determined to be immaterial in filings with the Securities and Exchange Commission by lawyers of Clover Health, the initial public offering underwriters, and third-party attorneys.
[22] In June, Clover Health became the target of traders as a “meme stock”, causing share prices to fluctuate.
[28] A Series D funding round in 2017 included support from Alphabet Inc's investment company GV and led to Clover Health being valued at more than $1.2 billion and achieving “unicorn” status.
[22] The beneficiaries are located in 11 states: Arizona, Georgia, Kansas, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, and Vermont.
[35] The platform aggregates health information and uses it with the machine learning process to deliver recommendations to care providers.