Clover Health Investor Presentation Deck
COVID Had A Big Impact on Medical Expenses and Revenue
$1,300
$1,200
$1,100
$1,000
$900
$800
$700
$600
$500
$400
2018-01
2018-02
2018-Q3
Plan 1
Medical Expense Impact
Northern NJ Plans Allowed PMPM Since Q1 2018
Pre-Pandemic
2018-04
2019Q1
2019-Q3
2019-Q2
Plan 1 Illustrative PMPM M(1)
2019-04
2020-Q2
2020-Q1
Plan 2 PMPM
2020-Q3
2020-Q4
2021-Q1
2021-Q2
We believe
Clover is
starting to
see a
reversion to
the mean in
Q3
2021-Q3
Plan 2 Illustrative PMPM²
1.1
1.09
1.08
1.07
1.06
(1) Illustrative PMPM is calculated using a prior year average grossed up for 2% illustrative inflation starting Q1 2020.
(2) Source: CMS MMR file.
1.05
1.04
1.03
1.02
Revenue Impact
Payment Year Risk Score(2)
2017 2018 2019 2020
2021
YTD
The impact
of COVID in
2020
affects our
PY2021 risk
scores
Given our focus on serving traditionally underserved populations and our geographic mix, we saw
impacts to medical expense and revenue that are not commensurate with our historical baseline.
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