Oscar HealthPrefer Sterling in Google
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| Period | Direct policy premiums | Risk adjustment transfers | Reinsurance premiums ceded | Assumed premiums | Printed total |
|---|---|---|---|---|---|
| Q1 2024 | 2,310,100 | -269,398 | -4,632 | 57,612 | 2,093,682 |
| Q2 2024 | 2,544,115 | -432,895 | -7,564 | 60,460 | 2,164,116 |
| Q3 2024 | 2,687,883 | -374,828 | 140 | 55,062 | 2,368,257 |
| Q4 2024 | 2,750,027 | -449,327 | -1,934 | 46,438 | 2,345,204 |
| Q1 2025 | 3,349,671 | -373,749 | -2,542 | 22,441 | 2,995,821 |
| Q2 2025 | 3,482,764 | -692,245 | -2,690 | 15,615 | 2,803,444 |
| Q3 2025 | 3,646,308 | -727,538 | -3,048 | 8,246 | 2,923,968 |
| Q4 2025 | 3,552,565 | -803,301 | -2,870 | 266 | 2,746,660 |
| Q1 2026 | 6,030,275 | -1,442,811 | -5,618 | -984 | 4,580,862 |
| Q2 2026 | 5,666,469 | -871,470 | -4,989 | -679 | 4,789,331 |
• Florida 1,179,934 members (58%). Texas 358,910. Georgia 218,746.
• Tennessee 91,522. Ohio 63,793. New Jersey 35,899. Iowa 20,734. North Carolina 14,427. Kansas 13,986. Arizona 11,398.
• Missouri 9,482. New York 8,180. Oklahoma 4,260. Michigan 4,258. Pennsylvania 2,716. Illinois 2,316. Nebraska 1,648. Virginia 240.
• Total: 2,042,449 effectuated members across 18 states / 504 counties.
• 2026 expansion: Alabama (Huntsville + Birmingham rating areas) and Mississippi (Jackson, Northern MS, Benton/Lafayette/Panola). Total grows to 20 states / 573 counties.
Mario Schlosser + Kevin Nazemi + Joshua Kushner found Oscar Health 2012 in NYC as health insurance disruptor targeting ACA individual marketplace launching 2014. Raises $30M Series A from Kushner's Thrive Capital + Founders Fund + others. Bet: tech-first member experience can win ACA exchange enrollees.
Oscar Health Series D Feb 2018 $165M led by Founders Fund + General Catalyst; valuation $3.2B. Mario Schlosser CEO grows Oscar to 250K+ ACA marketplace members across 9 states. Tech-first member app + concierge care team define Oscar's premium retail health insurance experience.
Oscar exits California ACA marketplace Mar 2017 — pulls out of San Francisco + Northern California after losses; refocuses on NY + Texas. Demonstrates ACA marketplace underwriting difficulty for tech-first insurers. Schlosser CEO doubles down on member experience + Cleveland Clinic partnership.
Oscar Health crosses 600K members Q1 2021 — ACA marketplace dominant; +250K from special enrollment period post-COVID. Pre-IPO momentum + Biden administration ACA subsidy extensions drive enrollment. Stock IPO Mar 2021.
Oscar Health IPO Mar 3 2021 at $39/share raising $1.4B on NYSE; market cap ~$8B. First public US health insurtech IPO. Stock immediately falls 11% first day to $34.80; declines to $5 by 2022 amid rising loss ratios + ACA marketplace volatility. Joshua Kushner (Thrive Capital) becomes board chair.
Oscar Health stock crashes 2022 from $39 IPO to $5; medical loss ratios spike to 90%+; founder Mario Schlosser steps aside Apr 2023. Mark Bertolini (former Aetna CEO 2010-2018) becomes Oscar CEO; pivot to disciplined underwriting + risk-adjusted profitability over enrollment growth.
Mark Bertolini becomes Oscar CEO Apr 2023 — former Aetna CEO (2010-2018) joins from retirement. Bertolini's discipline + ACA marketplace tailwind transform Oscar trajectory: medical loss ratio improves from 90%+ to ~80%; ACA enrollment grows. Stock $5 → $20+ by 2025 (4x recovery).
Oscar Health FY2024 — first full-year GAAP profit; Mark Bertolini CEO since Apr 2023. 1.7M+ ACA marketplace members across 18 states. Stock $20+ vs $1.50 trough 2022 (13x recovery). Oscar becomes case study in insurtech turnaround via experienced operator + discipline pivot.
Oscar Health Q3 2025 — Mark Bertolini CEO (former Aetna chairman; CEO since Apr 2023) delivers Oscar's first full-year GAAP profit guidance for 2025. ACA marketplace enrollment grows to 1.7M+ members. Stock $20+ (recovered from $1.50 trough 2022). Bertolini's discipline + ACA tailwind transform Oscar trajectory.
Oscar Health FY2025 — Mark Bertolini CEO delivers full-year GAAP profit; 1.9M+ ACA marketplace members across 20 states. Stock $22 all-time high since IPO. Bertolini's discipline + ACA enrollment growth + commercial discipline transforms Oscar trajectory.