Alignment Healthcare Turns Profit as Insurer Gets Handle on Costs

Alignment Healthcare posted second-quarter net income of $36.6 million, more than double a year earlier.

Revenue rose 31% to $1.3 billion, helped by strong Medicare Advantage membership growth.

Its medical benefit ratio fell to 86% as care costs eased, improving margins.

The results point to better profitability as the insurer reins in Medicare Advantage medical costs.