---
schema_version: "secwatch.filing_event.v1"
accession: "0001801170-23-000115"
form_type: "8-K"
ticker: "CLOV"
cik: "0001801170"
company_name: "CLOVER HEALTH INVESTMENTS, CORP. /DE"
filed_at: "2023-12-01T23:59:59+00:00"
generated_at: "2026-06-07T19:28:49.443916+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Clover Health exits ACO REACH, expects $8M-$10M charges; sees faster path to profitability

## Summary
- Board decided to exit CMS ACO REACH Program; notice delivered Dec 1, 2023, effective end of 2023 performance year.
- Total charges estimated at $8M to $10M, including $6M non-cash impairment in Q4 2023.
- CEO says no clear line to profitability in ACO REACH; Medicare Advantage business making swifter strides.
- Exit has no impact on ACO REACH beneficiaries; Clover will fulfill 2023 obligations.
- Company expects Adjusted EBITDA profitability for full-year 2024.

## SEC filing metadata
- accession: 0001801170-23-000115
- form_type: 8-K
- ticker: CLOV
- cik: 0001801170
- company_name: CLOVER HEALTH INVESTMENTS, CORP. /DE
- filed_at: 2023-12-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.05, 2.06, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801170/000180117023000115/0001801170-23-000115-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801170/000180117023000115/clov-20231130.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801170-23-000115
- JSON: https://secwatch.observer/filing/0001801170-23-000115.json
- Plain text: https://secwatch.observer/filing/0001801170-23-000115.txt

## Key facts
- Restructurings & Charges
  CLOVER HEALTH INVESTMENTS, CORP. /DE announced a restructuring with charges of approximately $8 million to $10 million affecting ACO REACH Program.
  - Type: restructuring
  - Charge: approximately $8 million to $10 million
  - Affected area: ACO REACH Program
  source text: the Company expects to incur total charges related to the exit from the ACO REACH Program of approximately $8 million to $10 million, the majority of which are non-cash in nature as described in Item 2.06 below. These charges also include severance costs and legal costs, some of which may result in future cash expenditures. Exit activities are expected to conclude by the end of 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801170/000180117023000115/0001801170-23-000115-index.htm
- Restructurings & Charges
  CLOVER HEALTH INVESTMENTS, CORP. /DE announced a impairment with charges of approximately $6 million.
  - Type: impairment
  - Charge: approximately $6 million
  source text: the Company expects to record a non-cash impairment charge in the fourth quarter of 2023 of its assets in an estimated amount of approximately $6 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801170/000180117023000115/0001801170-23-000115-index.htm

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