{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-26-065470","form_type":"8-K","ticker":"ALHC","cik":"0001832466","company_name":"Alignment Healthcare, Inc.","filed_at":"2026-10-08T21:13:20+00:00","discovered_at":"2026-10-08T21:14:00.310620+00:00","generated_at":"2026-10-12T15:23:08.402992+00:00","sec_items":["7.01"],"event_type":"regulatory","sentiment":"negative","materiality_score":0.72,"calibrated_materiality_score":0.72,"confidence":"high","headline":"Alignment's California HMO H3815 falls to 3.5 stars for 2027, hitting ~75% of membership","bullets":["CMS released 2027 Star Ratings on Oct 8, 2026; Alignment expects its California HMO contract H3815 to fall to a 3.5-Star Rating from 4.0 for rating year 2026.","H3815 serves roughly 75% of the company's health plan membership; six other eligible plans are expected to keep 4.0 stars or better, including three at 4.5 stars.","Decline driven mainly by higher industry cut points and lower triple-weighted HOS and Part D measures; CMS retroactively eliminated bonus calculations for the Excellent Health Outcomes for All Index.","2027 Stars results are not expected to affect revenue in fiscal 2026 or 2027; quality bonus payments for fiscal 2028 will be impacted, partly offset by provider risk-sharing arrangements.","Alignment intends to pursue administrative appeals and commence litigation challenging certain CMS Star Ratings measures and methodologies; ~50% of members joined within the last two years."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-065470","json":"https://secwatch.observer/filing/0001628280-26-065470.json","markdown":"https://secwatch.observer/filing/0001628280-26-065470.md","text":"https://secwatch.observer/filing/0001628280-26-065470.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832466/000162828026065470/0001628280-26-065470-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832466/000162828026065470/alhc-20261008.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T15:23:08.402992+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}