---
schema_version: "secwatch.filing_event.v1"
accession: "0001801170-23-000021"
form_type: "8-K"
ticker: "CLOV"
cik: "0001801170"
company_name: "CLOVER HEALTH INVESTMENTS, CORP. /DE"
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T22:41:02.779975+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Clover Health to cut 10% of workforce, move operations to UST HealthProof; expects $30M annual savings

## Summary
- Partnership with UST HealthProof to handle core Medicare Advantage operations (claims, enrollment, contact center) through 2028.
- Reduction in force eliminates ~10% of workforce; expects $7-9M in restructuring charges in 1H2023.
- Net annual cost savings of ~$30M expected beginning in 2024 from the transformation initiatives.
- Master Services Agreement with UST HealthProof includes fixed monthly per-member fees; renewable after initial term.
- Company reaffirms focus on profitability and disciplined growth in core Medicare Advantage markets.

## SEC filing metadata
- accession: 0001801170-23-000021
- form_type: 8-K
- ticker: CLOV
- cik: 0001801170
- company_name: CLOVER HEALTH INVESTMENTS, CORP. /DE
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.05, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801170/000180117023000021/0001801170-23-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801170/000180117023000021/clov-20230416.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801170-23-000021
- JSON: https://secwatch.observer/filing/0001801170-23-000021.json
- Plain text: https://secwatch.observer/filing/0001801170-23-000021.txt

## Key facts
- Restructurings & Charges
  CLOVER HEALTH INVESTMENTS, CORP. /DE announced a restructuring with charges of approximately $7.0 to $9.0 million affecting core plan operations and corporate restructuring (approximately 10% of the Company’s workforce).
  - Type: restructuring
  - Charge: approximately $7.0 to $9.0 million
  - Affected area: core plan operations and corporate restructuring
  - Headcount: approximately 10% of the Company’s workforce
  source text: resulted in the elimination of approximately 10% of the Company’s workforce. The Company expects to record total charges related to the initiatives of approximately $7.0 to $9.0 million, primarily all of which will result in future cash expenditures. These charges are expected to be recorded in the first and second quarters of 2023, and to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801170/000180117023000021/0001801170-23-000021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.