Walgreens revealed as investor in federal health insurance company

Walgreens revealed as investor in federal health insurance company

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

Michael M. Santiago / Getty Images

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

The connections between Nashville, Tennessee-based Clover and Jersey City, New Jersey-based SeekMedicare were first detailed in a report on short sellers. released last week by Hindenburg Research, which claims it has no position in Clover. This report alleged that SeekMedicare was misleading customers because it claimed it was providing “unbiased” Medicare advice without revealing that its parent company is a Medicare Advantage insurer. Walgreens encourages customers aged 65 and over to use SeekMedicare to find health insurance.

SeekMedicare was one of twelve Clover Health topics reviewed by the…

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