Clover Health Investments, Corp. — Form 8-K Summary
Report date: October 8, 2026. The 8-K reports a CMS announcement concerning the company’s 2027 Medicare Advantage Star Ratings, which affect payment year 2028.
Business context and key development
- CMS awarded Clover’s PPO Medicare Advantage plans 5 Stars and its HMO plan 4.5 Stars.
- For the PPO ratings, CMS excluded 20 measures covered by a May 27, 2026 court decision in Clover Insurance Company v. Department of Health & Human Services. The decision is on appeal.
- The filing states that including those 20 measures would have resulted in a 4.5-Star rating for the PPO plans.
Financial results and comparison
This 8-K provides no revenue, profit, cash flow, margin, debt, liquidity, or other financial metrics, and no comparable-period financial results.
Outlook, risks, and filing details
- The ratings affect payment year 2028. The filing provides no quantified financial impact or other earnings guidance.
- The court decision is on appeal, creating uncertainty around the treatment of the 20 measures. The filing does not describe the appeal’s expected timing or outcome.
- The ratings announcement was furnished under Item 7.01; the filing says the information is not deemed “filed” for purposes of Exchange Act Section 18, except as expressly referenced elsewhere.
Important facts for investors to verify
- Whether the 5-Star PPO rating remains in effect following the appeal and any subsequent CMS action.
- How the ratings translate into Clover’s payment, revenue, and operating results for 2028; this filing does not quantify the impact.
- The full company press release furnished as Exhibit 99.1 for any additional details.