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GoHealth Files Voluntary Prepackaged Chapter 11, Backed by Lenders and Shareholders
GoHealth, Inc., a Chicago‑based Medicare‑focused digital health marketplace, filed voluntary prepackaged Chapter 11 petitions with the U.S. Bankruptcy Court for the District of Delaware on June 7, 2026. The filing is intended to implement a restructuring plan that has received unanimous support from the company’s lenders, over 60 % of holders of its Class A common stock, and more than 99 % of holders of GoHealth Holdings, LLC interests (GlobeNewswire, June 7, 2026). The plan is designed to shift ownership to lenders, reinstate preferred equity, pay trade payables in full, provide cash to common shareholders, and preserve key relationships with customers and insurers.
GoHealth has operated as a marketplace for Medicare Advantage, Medigap, and Medicare Part D plans since 2016, after shifting focus from the Affordable Care Act market. The company’s platform uses machine‑learning algorithms to match consumers with plans and has enrolled millions of Medicare beneficiaries. In recent years, the Medicare Advantage market has experienced significant volatility, prompting the company to seek a restructuring that would strengthen its financial position ahead of the 2026 Annual Enrollment Period (AEP).
Under the proposed plan, GoHealth intends to continue operating in the ordinary course during the bankruptcy proceedings. The company has filed motions to maintain uninterrupted service, pay vendors and suppliers in full, and uphold commitments to employees, customers, and partners (GlobeNewswire, June 7, 2026). The plan also calls for the delisting of the company’s Class A common stock from the Nasdaq Global Market and the suspension of trading on that exchange. After suspension, the shares may be quoted on an over‑the‑counter market, such as the OTCID Basic Market.
The restructuring is expected to be completed quickly, with GoHealth aiming to emerge from Chapter 11 before the start of the 2026 AEP. CEO Vijay Kotte stated that the plan would “provide GoHealth with new owners and a strong financial foundation” and that the company would continue to serve Medicare consumers without interruption (GlobeNewswire, June 7, 2026). Legal counsel for the case is Kirkland & Ellis LLP, and Alvarez & Marsal North America, LLC is acting as the restructuring advisor.
The prepackaged approach is notable for its high level of creditor and shareholder support. In a prepackaged bankruptcy, a company negotiates a restructuring plan with key stakeholders before filing, which can reduce the duration and cost of the bankruptcy process. GoHealth’s unanimous lender backing and majority shareholder approval suggest that the plan has broad acceptance, a factor that can facilitate a swift confirmation by the Bankruptcy Court.
For investors, the filing signals a significant change in ownership structure. Lenders will become owners, while preferred equity holders will be reinstated. Common shareholders will receive a cash payment, but the company’s stock will be delisted from Nasdaq and may trade only on over‑the‑counter venues. The plan also addresses trade payables and other ordinary‑course obligations, which should mitigate disruptions to suppliers and partners.
GoHealth’s decision to file prepackaged Chapter 11 comes amid a challenging Medicare market environment. The company’s focus on technology‑driven plan comparison and personalized guidance has positioned it as a key player for Medicare beneficiaries, but the restructuring reflects the need to align its capital structure with the evolving market dynamics.
As the bankruptcy court reviews the plan, GoHealth will continue to operate, maintain customer service, and honor existing contracts. The company has requested that interested parties obtain court filings through its restructuring hotline or the Donlin, Recano & Company, LLC website. The next steps will involve the court’s confirmation of the plan, potential additional shareholder votes, and the eventual emergence of the company under the new ownership structure.
In summary, GoHealth’s voluntary prepackaged Chapter 11 filing, backed by lenders and a majority of shareholders, is aimed at strengthening the company’s financial footing ahead of the 2026 AEP. The plan seeks to preserve ongoing operations, pay creditors, and provide a cash payout to common shareholders while shifting ownership to lenders. The outcome of the bankruptcy proceedings will determine the company’s post‑restructuring ownership and the future of its Medicare marketplace platform.
GoHealth has operated as a marketplace for Medicare Advantage, Medigap, and Medicare Part D plans since 2016, after shifting focus from the Affordable Care Act market. The company’s platform uses machine‑learning algorithms to match consumers with plans and has enrolled millions of Medicare beneficiaries. In recent years, the Medicare Advantage market has experienced significant volatility, prompting the company to seek a restructuring that would strengthen its financial position ahead of the 2026 Annual Enrollment Period (AEP).
Under the proposed plan, GoHealth intends to continue operating in the ordinary course during the bankruptcy proceedings. The company has filed motions to maintain uninterrupted service, pay vendors and suppliers in full, and uphold commitments to employees, customers, and partners (GlobeNewswire, June 7, 2026). The plan also calls for the delisting of the company’s Class A common stock from the Nasdaq Global Market and the suspension of trading on that exchange. After suspension, the shares may be quoted on an over‑the‑counter market, such as the OTCID Basic Market.
The restructuring is expected to be completed quickly, with GoHealth aiming to emerge from Chapter 11 before the start of the 2026 AEP. CEO Vijay Kotte stated that the plan would “provide GoHealth with new owners and a strong financial foundation” and that the company would continue to serve Medicare consumers without interruption (GlobeNewswire, June 7, 2026). Legal counsel for the case is Kirkland & Ellis LLP, and Alvarez & Marsal North America, LLC is acting as the restructuring advisor.
The prepackaged approach is notable for its high level of creditor and shareholder support. In a prepackaged bankruptcy, a company negotiates a restructuring plan with key stakeholders before filing, which can reduce the duration and cost of the bankruptcy process. GoHealth’s unanimous lender backing and majority shareholder approval suggest that the plan has broad acceptance, a factor that can facilitate a swift confirmation by the Bankruptcy Court.
For investors, the filing signals a significant change in ownership structure. Lenders will become owners, while preferred equity holders will be reinstated. Common shareholders will receive a cash payment, but the company’s stock will be delisted from Nasdaq and may trade only on over‑the‑counter venues. The plan also addresses trade payables and other ordinary‑course obligations, which should mitigate disruptions to suppliers and partners.
GoHealth’s decision to file prepackaged Chapter 11 comes amid a challenging Medicare market environment. The company’s focus on technology‑driven plan comparison and personalized guidance has positioned it as a key player for Medicare beneficiaries, but the restructuring reflects the need to align its capital structure with the evolving market dynamics.
As the bankruptcy court reviews the plan, GoHealth will continue to operate, maintain customer service, and honor existing contracts. The company has requested that interested parties obtain court filings through its restructuring hotline or the Donlin, Recano & Company, LLC website. The next steps will involve the court’s confirmation of the plan, potential additional shareholder votes, and the eventual emergence of the company under the new ownership structure.
In summary, GoHealth’s voluntary prepackaged Chapter 11 filing, backed by lenders and a majority of shareholders, is aimed at strengthening the company’s financial footing ahead of the 2026 AEP. The plan seeks to preserve ongoing operations, pay creditors, and provide a cash payout to common shareholders while shifting ownership to lenders. The outcome of the bankruptcy proceedings will determine the company’s post‑restructuring ownership and the future of its Medicare marketplace platform.
