ORANGE, Calif., Oct. 02, 2023 (GLOBE NEWSWIRE) -- Alignment Healthcare, Inc. (NASDAQ: ALHC), a tech-enabled Medicare Advantage (MA) company, announced more than 50 Alignment Health Plan options that offer a wide range of new or enriched benefits and services in 2024, including a Part B rebate that gives money back to seniors; a bevy of supplemental benefits including dental coverage and over-the-counter (OTC) and grocery allowances; and $0 copay for more than 10,000 Part D prescription drugs. The plans will be available to up to 8.5 million Medicare-eligible adults, who can select from Alignment’s diverse portfolio during the Medicare annual enrollment period, which runs Oct. 15 through Dec. 7 for plan benefits starting Jan. 1, 2024.1
In 2024, Alignment will become available in Merced County, California, expanding its geographic reach to 53 total markets across the six states in which the company offers plans: Arizona, California, Florida, Nevada, North Carolina and Texas.
“More seniors are choosing Alignment because our clinical and member teams take great care to listen and respond to their changing needs,” said Dawn Maroney, president, markets of Alignment Healthcare, and CEO of Alignment Health Plan. “We are committed to always putting our seniors first and serving them. This means more services and benefits that break down barriers to better health, and higher quality care at lower costs – all alongside clinical innovation designed to keep them healthy and aging well.”
New Part B rebate helps ease financial burden
With the cost of food, gas and health care continuing to rise, more seniors worry about their ability to pay for the cost of living. According to Alignment’s second annual “Social Threats to Aging Well in America” report released in September, U.S. seniors rank economic instability and food insecurity as the top two social barriers to their health and wellness in the year ahead.
To help seniors ease their financial burden, Alignment has introduced plans that offer rich Medicare Part B premium rebates through its smartHMO product line, expanding the plan’s service area to include select markets in all six states. The smartHMO plan is ideal for seniors who prefer simpler benefits and more money back on their social security checks or Part B premium statement, while still receiving robust coverage.
New enriched benefits for low-income seniors with chronic conditions or disabilities
With 12.9 million people jointly enrolled in Medicare and Medicaid, Alignment continues to invest in products that support the unique needs of low-income seniors with disabilities or chronic conditions. For qualified members in select Dual Special Needs Plans (D-SNPs) in California, Florida, Nevada and North Carolina in 2024, Alignment is introducing a $500+ quarterly allowance for “Essentials,” a new supplemental benefit for chronically ill beneficiaries that includes groceries, gas, utilities and home safety items.
For dually eligible seniors diagnosed with diabetes or a heart condition, the new Heart & Diabetes Plus (HMO C-SNP) plans in California, Arizona, and Texas provide 24/7 care coordination support, including virtual clinical services and referral and case management. Benefits include a $500+ quarterly allowance for OTC and Essentials, and dental coverage.
Those who qualify for Medicare’s Low-Income Subsidy (LIS) program and enroll in one of Alignment’s Value-Based Insurance Design (VBID) plans – available in select markets in all six states – will have a $0 copay for all covered Part D drugs in 2024.
More benefits, better access to reduce social barriers
Alignment was among the first in the industry to pioneer the use of a debit card for eligible grocery and OTC items at retailers nationwide. Known as the ACCESS On-Demand Concierge card, Alignment’s card also offers members of select plans an additional benefit known as the “Flex Allowance” to purchase dental, vision, hearing, chiropractic and acupuncture items and services – including dentures and veneers to alternative therapies like cupping – from both in- and out-of-network providers.
In 2024, Alignment will make it even easier and more convenient for members to use their grocery and OTC benefits as it expands its network of retailers participating in in-store shopping from 55,000 to 66,000 stores, along with additional online shopping options. The company also will add podiatry to its Flex Allowance-covered services, helping members avoid and treat foot and ankle problems associated with aging.
For members with qualifying conditions, Alignment is extending coverage of pest control and pet boarding, sitting and walking services to all plans in 2024. In addition, popular benefits such as free non-medical transportation, virtual fitness classes, meal delivery after hospital stays, $300 yearly reimbursement for caregiver support, and non-medical companionship will continue to be offered in select plans.
All Alignment members have access to the company’s ACCESS On-Demand Concierge, which is a dedicated concierge team available 24 hours a day, seven days a week, to answer health-related questions, schedule medical appointments and arrange transportation, and to the company’s Virtual Care Center, which offers round-the-clock support from a virtual team of dedicated advanced practice clinicians, licensed social workers, registered nurses and care coordinators.
For more information about the company’s award-winning product offerings, benefits and services, visit www.alignmenthealthplan.com.
About Alignment Health
Alignment Health is championing a new path in senior care that empowers members to age well and live their most vibrant lives. A consumer brand name of Alignment Healthcare (NASDAQ: ALHC), Alignment Health is a tech-enabled Medicare Advantage company that offers more than 40 benefits-rich, value-driven plans that serve 52 counties across six states. The company partners with nationally recognized and trusted local providers to deliver coordinated care, powered by its customized care model, 24/7 concierge care team and purpose-built technology, AVA®. Based in California, the company’s mission-focused team makes high-quality, low-cost care a reality for members every day. As it expands its offerings and grows its national footprint, Alignment upholds its core values of leading with a serving heart and putting the senior first. For more information, visit www.alignmenthealth.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are subject to risks and uncertainties and are based on assumptions that may prove to be inaccurate, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted. Important risks and uncertainties that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to obtain certain governmental approvals and other risks associated with being a government contractor; changes in laws and regulations applicable to our business model; and changes in market or industry conditions and receptivity to our technology and services. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our Annual Report on Form 10-K for the year ended December 31, 2022, and the other periodic reports we file with the SEC. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update or revise this information unless required by law.
Media Contact
Priya Shah
mPR, Inc. for Alignment Health
alignment@mpublicrelations.com
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1 Centers for Medicare & Medicaid Services Medicare Advantage/Part D Contract and Enrollment Data, August 2023 MA State/County Penetration, https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/MCRAdvPartDEnrolData/MA-State-County-Penetration
