Oscar Health Inc Stock Price, News & Analysis

Oscar Health, Inc. (NYSE: OSCR) will release its fourth quarter 2022 and full year 2022 financial results on February 9, 2023, after market close. A conference call will be held at 5:00 PM (ET) to discuss these results. The call can be accessed via a live call or a webcast link, both of which will be available on Oscar's investor relations website following the results announcement. Oscar is known for its technology-driven approach to health insurance and aims to provide affordable health care to its members.

Oscar Health, Inc. (NYSE: OSCR) announced that Co-Founder & CEO Mario Schlosser will present at the 41st Annual J.P. Morgan Healthcare Conference on Wednesday, January 11, 2023, at 5:15 PM PT (8:15 PM ET) in San Francisco, CA. Interested parties can listen to a webcast of the presentation on Oscar's investor relations website. Oscar, established in 2012, focuses on making healthcare accessible and affordable, serving over one million members as of September 30, 2022, through a technology-driven approach and a mission to improve member experiences.

Oscar Health, Inc. (NYSE: OSCR) announced it will stop accepting new members in Florida starting December 13 at 12:00 a.m. EST, due to strong Open Enrollment performance. Current members can renew their plans without disruption. This decision follows Oscar's proactive engagement with regulators to manage membership growth and ensure financial stability, as they aim to maintain their target membership of approximately 1 million. Oscar remains committed to the Florida market and will continue to provide coverage throughout 2023 and beyond.

Oscar Health, Inc. (NYSE: OSCR) has appointed Bill Gassen and Laura Lang to its Board of Directors effective December 7, 2022. Gassen, currently CEO of Sanford Health, brings extensive healthcare leadership experience, while Lang, former CEO of Time Inc., adds valuable expertise in digital business transformation. Oscar’s CEO, Mario Schlosser, emphasizes that their diverse backgrounds will enhance the board’s capabilities as the company strives to innovate and improve accessibility in healthcare. Jeffery Boyd, the Chairman, believes their leadership will be crucial for Oscar’s growth.

Oscar Health (NYSE: OSCR) has announced an expansion of its provider network in Nashville, TN, adding Vanderbilt University Medical Center (VUMC) and its affiliates to its in-network options. This initiative aims to enhance access to quality healthcare for members during the ongoing Open Enrollment period, with coverage effective from January 1, 2023. Oscar members will benefit from VUMC's extensive services and Oscar's digital health tools, including 24/7 access to virtual urgent care at no cost and Tier 1 prescriptions also at no cost.

Thrive Capital confirmed that its ownership of Oscar Health, Inc. (NYSE: OSCR) remains unchanged, as disclosed in its Schedule 13D filed on February 4, 2022. The firm holds 4,755,222 shares of Class A Common Stock, a number corrected due to a clerical error in prior filings that included shares of Class B Common Stock erroneously. Class B Common Stock is not classified as a Section 13(f) security. Thrive Capital plans to amend previous 13F filings to rectify this issue.

Oscar Health reported significant growth in Q3 2022, with membership increasing to 1,075,445, an 81% year-over-year rise. Direct and assumed policy premiums reached $1.7 billion, up 87% YoY, while premiums earned surged 116% to $954 million. The Medical Loss Ratio improved to 89.9%, down 980 bps YoY, and the Combined Ratio decreased to 110.6%. Despite a net loss of $194 million, this reflects an improvement of $18 million YoY. The company anticipates total profitability in 2024, a year earlier than expected, driven by operational efficiencies and higher membership.

Oscar Health expands its ACA Individual and Family plans in the Kansas City area, partnering with HCA Midwest Health, the region's largest healthcare provider. Beginning January 1, 2023, members will gain access to HCA's extensive network of over 50 locations, including hospitals and urgent care centers, enhancing healthcare accessibility. Oscar's offerings include $0 Virtual Urgent Care visits and Tier 1 prescriptions. The initiative aims to improve clinical outcomes, member experience, and reduce costs for a broader member base in the Kansas City region.