Clover Health SPAC Presentation Deck
Our Best-In-Class Growth Directly Impacts Margin Results
Gross Premium
Revenue
Medical Expenses
Medical Care Ratio
(MCR) (¹)
Operating
Expenses
New Members
Limited visibility into health profile
(~$800 per member per month)
Limited time to impact
95% - 105%
Acquisition costs
Returning Members
Year 1 loss
Strong visibility into health profile
(~$1,100 per member per month)
Cost savings over time
70%-85%
Variable operating expenses
Operating Margin
(1) Defined as total net medical daim expenses incumed divided by premiums eamed, in each case on a gross or net basis, as the case may be, in a given period. The MA program requires us to spend a minimum of 85% of total
premium revenue received by the insurer on health care services, covered benefits and quality improvement efforts. That calculation is separate and distinct from the computation of MCR as presented herein.
Profitable
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