Clover Health is continuing to see strong traction in its Medicare Advantage plan, with membership growing 49% year-over-year in the third quarter to approximately 157,000 members.

Alongside continued membership growth, executives touted the company’s star ratings from the Centers for Medicare & Medicaid Services for payment year 2028.

“We are incredibly proud that our flagship PPO plan achieved five stars for payment year 2028, making it the largest five-star PPO contract in the country,” Andrew Toy, Clover Heath CEO, said during Wednesday’s earnings call. “Additionally, our HMO plan achieved four and a half stars, meaning 100% of Clover members are enrolled in plans rated at least four and a half stars for payment year 2028.”

Toy said the ratings give Clover “continued flexibility to invest” in benefits and affordable care access for members, adding the company’s HEDIS quality performance remains “industry leading.”

“And that is why we're proud that for the third year in a row, we rank number one nationally among comparable PPO plans on core HEDIS measures,” Toy said. “At the same time, we have not built Clover around optimizing to stars ratings. We are built to manage true clinical quality and total cost of care. That distinction matters.”

Toy also announced that Clover’s board appointed Interim CFO Clay Thornton as its permanent CFO.

The company posted $130 million in profit, up 77% year-over-year, and total revenue of $759 million, up 53% year-over-year, according to financial results published Wednesday afternoon.

97 billion and $3 billion and adjusted EBITDA of $75 million to $85 million.

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