Walgreens revealed as investor in health insurance company under federal investigation

Walgreens is an investor in SeekMedicare, a subsidiary of Clover Health, which is an insurer currently under federal investigation.

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Walgreens Boots Alliance is an investor in SeekMedicare, a subsidiary of Clover Health which is one of the dozen issues related to the business practices of the Medicare Advantage insurer currently under federal investigation. Clover Health went public last month through an ex-led special purpose acquisition company Facebook executive and “king SPAC” Chamath Palihapitiya.

The links between Clover of Nashville, Tennessee, and SeekMedicare, based in Jersey City, New Jersey, were first detailed in a short sale report released last week by Hindenburg Research, which claims it has no position in Clover. That report alleged that SeekMedicare was misleading clients, because it claimed to provide “impartial” Medicare advice without disclosing that its parent company is a Medicare Advantage insurer. Walgreens has encouraged its customers aged 65 and over to use SeekMedicare to find health insurance.

SeekMedicare was one of twelve Clover Health topics reviewed by …

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