Insurers are investing billions into affordable housing as they look to address healthcare challenges stemming from housing instability.
Five recent payer investments in affordable housing:
Centene and building developer McCormack Baron Salazar said in May they would enable around $900 million in planning and construction-related activity to accelerate the development of thousands of new affordable housing units.
UnitedHealth Group surpassed $1 billion in affordable housing investments in May since the company began prioritizing housing developments in 2011. Through UnitedHealthcare and Optum, the company has helped build more than 25,000 homes across 31 states and Washington, D.C.
CVS Health provided an additional $35 million for affordable housing developments in Hawaii in February, bringing its total investment to date in the state to $62.2 million.
CalOptima Health, a Medicaid insurer in Orange County, Calif., awarded $52.3 million in grants in October to 15 organizations for the creation of affordable and permanent supportive housing.
Humana invested another $40 million into affordable housing in April 2023, bringing the payer's total spending on low-cost rental units to $90 million.