CLOVER HEALTH INVESTMENTS, CORP. /DE 8-K

What Happened

• Clover Health Investments, Corp. filed an 8-K on June 18, 2026 reporting that the Centers for Medicare & Medicaid Services (CMS) recalculated Star Ratings for the Company’s Medicare Advantage contracts.
• On June 9, 2026 CMS informed the company that the 2026 Star Rating for its PPO contract H5141 was recalculated from 3.5 Stars to 4.5 Stars for payment year 2027. On June 17, 2026 CMS issued guidance and HPMS now shows H5141 at 4.5 Stars for 2027 and its HMO contract H8010 increased from 4.0 Stars to 4.5 Stars, which also affects payment year 2027.

Key Details

• Filing: Form 8-K dated June 18, 2026 (signed by Interim CFO Clay Thornton).
• Contract H5141 (PPO): 2026 Star Rating recalculated from 3.5 → 4.5 Stars for payment year 2027.
• Contract H8010 (HMO): 2026 Star Rating recalculated from 4.0 → 4.5 Stars; both changes reflected in HPMS and affect 2027 Quality Bonus Payments (QBP).
• Action follows a court judgment in Clover Insurance Co. v. HHS (S.D. Ga).

Why It Matters

• Star Ratings determine Quality Bonus Payments for Medicare Advantage plans; increases to 4.5 Stars can raise CMS payments for the affected contracts in payment year 2027, which may affect revenue tied to those plans.
• The filing confirms CMS has implemented the recalculation in HPMS but does not disclose dollar amounts or the exact financial impact; investors should watch for future disclosures quantifying any revenue or margin effects.