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GoHealth files for Chapter 11 — and it was already packed

Jason Moss
Jun 8
1 min read

The Medicare marketplace went bankrupt the way Hemingway described going broke: gradually, then all at once.

On June 7, 2026, GoHealth (GOCO) voluntarily filed for prepackaged Chapter 11 protection in Delaware — meaning the deal was done before the courthouse doors opened. With 100% of its lenders already on board, along with over 60% of Class A shareholders and 99% of LLC interest holders, this wasn't a messy collapse.

It was a controlled handoff. Lenders take the wheel, preferred equity gets reinstated, common stockholders get a modest cash pool, and the company expects to emerge before the 2026 Annual Enrollment Period.

Nasdaq delisting is expected during the process. Founded in 2001 as Norvax, GoHealth IPO'd in 2020 at peak hype — raising roughly $575M. Revenue eventually peaked at $800M. By 2025, net revenue had dropped to $361.8M. A 20% workforce cut and a strategic Medicare Advantage pullback followed. The math stopped working.

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