CLOVW Clover Health Investments Corporation

Today, Clover Health (Nasdaq: CLOV) (“Clover”), an innovative technology company committed to improving health equity for America’s underserved seniors, announces that it's enhancing its current over-the-counter (OTC) benefit to include groceries. The new benefit is available to eligible members in 101 counties across Arizona, Georgia, Mississippi, New Jersey, Pennsylvania, South Carolina, Tennessee, and Texas.

Clover members who meet certain criteria, like having an underlying health condition, such as cancer, chronic kidney disease, or hypertension, will qualify for the benefit. Depending on the plan the individual is enrolled in, they will receive up to $125 in a quarterly stipend which can be used to purchase grocery items, or OTC items, at many major retailers, local supermarkets, and regional chains. The benefits card is easy to use and is similar to a gift card in that it has a barcode on the back which the store clerk scans upon checkout.

To allow for time to operationalize the enhanced benefit, Clover will pursue a phased rollout. In phase one, beginning August 1, 2021, members who qualify within Clover's Georgia, New Jersey and South Carolina markets will receive a $20 grocery stipend in addition to a separate, existing OTC benefit. In phase two, starting October 1, 2021, members who qualify within Clover’s Arizona, Georgia, Mississippi, New Jersey, Pennsylvania, South Carolina, Tennessee, and Texas markets will receive the combined benefit.

“About 80% of Clover members have an underlying health condition, which means basic food access is vital to maintaining their physical and mental health. The inspiration for a grocery stipend stems from the countless empty fridges our nurses encounter when checking on our members in their homes. This benefit isn’t just about improving nutrition––we’re addressing food insecurity in its truest form; where people often have to make a hard choice between buying food, filling their prescriptions, or paying their utility bills,” said Vivek Garipalli, Clover’s Chief Executive Officer.

Participating retailers include ACME Markets, CVS, Duane Reade, Food Lion, Kroger, Stop & Shop, Walgreens, and Walmart. Clover will continue to add more and more participating retailers over time. The grocery benefit covers grocery services, including food and non-alcoholic beverages, as well as typical drug store “Over The Counter” (OTC) items, such as ibuprofen, bandages, and vitamins. The card may also be used for delivery through Walmart, for OTC items enabling swift access for individuals who are homebound or have difficulty leaving the home.

In an effort to address social determinants of health on multiple levels, earlier this year Clover introduced a new healthy lifestyle magazine for members, Clover Living. The magazine encourages members to be proactive about managing their conditions, featuring advice from clinicians, accessible healthy recipes, and tips for caregivers.

About Clover: Clover Health (Nasdaq: CLOV) is a next-generation risk-bearing organization aiming to achieve health equity for all Americans. While our mission is to improve every life, we particularly focus on seniors who have historically lacked access to affordable high quality healthcare.

We aim to provide great care, in a sustainable way, by having a business model built around improving medical outcomes while lowering avoidable costs. We do this while taking a holistic approach to understanding the health needs and social risk factors of those under our care. This strategy is underpinned by the company’s proprietary software platform, the Clover Assistant, which is designed to aggregate patient data from across the health ecosystem to support clinical decision-making by providing physicians with real-time, personalized recommendations at the point of care.

Making care more accessible is at the heart of our business, and we believe patients should have the freedom to choose their doctors. We offer two models of care: affordable Medicare Advantage plans with extensive benefits; and care coordination for Original Medicare beneficiaries through Direct Contracting. For both programs, we provide primary care physicians with the Clover Assistant and also make comprehensive home-based care available via the Clover Home Care program.

With its corporate headquarters in Nashville, Clover’s workforce is distributed around the U.S. and also includes a team of world-class technologists based in Hong Kong. The company manages care for Medicare beneficiaries in eleven states, including Arizona, Georgia, Kansas, Mississippi, New Jersey, New York, Pennsylvania, South Carolina, Tennessee, Texas and Vermont.

Contacts:

Investor Relations:Derrick Nuemaninvestors@cloverhealth.com

Press Contact:Andrew Still-Baxterpress@cloverhealth.com