Alignment Healthcare: H3815 expected to have 3.5-Star rating for 2027

What happened

• On Oct 8, 2026, Alignment Healthcare reported that the Centers for Medicare & Medicaid Services released its 2027 Star Ratings and the company "expects that its California HMO health plan contract (H3815) will have a 3.5-Star Rating for rating year 2027."
• The filing says H3815 had a 4.0-Star Rating for rating year 2026 and serves approximately 75% of the company’s health plan membership. The company "expects to retain a 4.0-Star or higher rating in each of its six other eligible plans, including three plans that achieved a 4.5-Star Rating."

Key details

• CMS released the 2027 Star Ratings on Oct 8, 2026.
• H3815 expected 3.5-Star for rating year 2027; H3815 was 4.0-Star for rating year 2026; H3815 serves about 75% of membership.
• The company reported the decline was driven primarily by higher industry cut points and a decline in certain triple-weighted measures across HOS and Part D, and by CMS’s retroactive elimination of bonus calculations related to the Excellent Health Outcomes for All Index after the performance period concluded.
• The filing says the 2027 Stars results are "not expected to impact the Company’s revenue for fiscal years 2026 or 2027" but will affect quality bonus payments for fiscal year 2028; the company expects provider risk-sharing arrangements and other mitigation efforts to offset a portion of the impact.

Why it may matter

• Item 7.01 (Regulation FD disclosure) was used to report the company’s view of CMS’s 2027 Star Ratings, which cover Medicare Advantage (Part C) and Medicare Part D prescription drug plans and affect quality bonus calculations. The filing notes the company intends to pursue administrative appeals and to commence litigation challenging certain Star Ratings measures and methodologies. This filing does not show why the insider traded or why the company acted.