New York payer laying off 68 employees

AgeWell, a specialty managed care insurer, is laying off 68 employees at its headquarters in Lake Success, N.Y., according to regulatory documents published by the state Oct. 31.

According to the WARN report, the company's total employee count is 68. AgeWell provides Medicare Advantage, Part D, D-SNP and I-SNP offerings to individuals in Westchester, Bronx, Manhattan, Queens, Kings, Nassau and Suffolk counties, according to its website. The layoffs will take place in phases from Dec. 30 through June 24, 2024.

In 2022, Molina Healthcare purchased AgeWell's managed Medicaid long-term care business for $110 million. At the time, the company had 13,000 total members.

Becker's has reached out to AgeWell and will update this article if more information becomes available.

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