Oscar Health Inc Stock Price, News & Analysis

Oscar Health, Inc. (NYSE: OSCR) announced the recipients of its Culturally Competent Care Grant Program, awarding $150,000 to three organizations enhancing healthcare access for underserved communities in the U.S. Each organization, including Bexa Equity Alliance, Light of the World Clinic, and Women's Reproductive Rights Assistance Project, will receive $50,000. This initiative aims to address gaps in culturally competent healthcare, recognizing the impact of social, cultural, and linguistic needs on health outcomes.

Oscar Health, Inc. (NYSE: OSCR) announced that Co-Founder & CEO Mario Schlosser and CFO Scott Blackley will present at the 2022 Wells Fargo Healthcare Conference on September 8, 2022, and the Morgan Stanley Global Healthcare Conference on September 12, 2022. Interested parties can access a webcast of the presentations on Oscar's investor relations website, where replay options will also be available. Founded in 2012, Oscar focuses on affordable health care through its technology platform and has served over one million members as of June 30, 2022.

Cigna Corporation and Oscar Health, Inc. are launching a new health insurance offering for small businesses in the Philadelphia area, effective January 1, 2023, pending regulatory approval. This initiative aims to provide affordable, member-first health insurance products and includes services like low-cost prescription coverage and access to Cigna's extensive network of healthcare providers. The partnership has already surpassed 50,000 members in its first half of operations, with promises of innovative health plans designed for small businesses.

Oscar Health reported significant growth in Q2 2022, with Direct and Assumed Policy Premiums rising to $1.7 billion, a 101% increase year-over-year. Premiums earned also grew by 88% to $995 million. Membership surged to 1,036,720, an 84% increase YoY. Despite these gains, the company posted a net loss of $112 million, up 39 million YoY, alongside an Adjusted EBITDA loss of $76 million. Key ratios improved, with Medical Loss Ratio at 82.2% and Administrative Expense Ratio at 19.5%. Oscar reaffirms its 2022 outlook for continued growth and improved profitability.

Oscar Health, Inc. (NYSE: OSCR) will announce its second-quarter 2022 financial results on August 11, 2022, after market close. A conference call for management to review the results will take place at 5:00 PM ET. Interested parties can join via a live call at (888) 550-4423 or access the webcast link. Oscar, founded in 2012, emphasizes a technology-driven approach to health insurance, serving over one million members as of March 31, 2022.

Oscar Health, Inc. (NYSE: OSCR) has launched its Next Best Actions engine, enhancing member communication through targeted messaging. Integrated with +Oscar’s Campaign Builder, it applies behavioral science to improve campaign conversion rates. The initiative has achieved a 48% engagement rate with members, driven a 20% rise in overall engagement, and increased campaign volume by 40%. This innovation aims to reduce information overload among members, facilitating better healthcare decisions and outcomes.

Oscar Health, Inc. (NYSE: OSCR) announced on June 8, 2022, that its Board of Directors approved the grant of 992,382 restricted stock unit awards to 29 non-executive employees. This grant is intended to incentivize these new hires under Oscar’s 2022 Employment Inducement Award Plan. The awards will generally vest quarterly over three years, contingent on continued employment. Oscar Health, founded in 2012 and headquartered in New York City, aims to enhance healthcare access through its technology-driven health insurance model.

Oscar Health reported a strong first quarter for 2022, with membership reaching 1,073,595, a 98% year-over-year increase. Total direct and assumed policy premiums surged to $1.7 billion, up 104% YoY, while premiums earned rose 159% to $955 million. Although the Medical Loss Ratio increased to 77.4%, the net loss decreased by $12 million to $77 million. Adjusted EBITDA loss was $37 million. Oscar reaffirmed its 2022 outlook and continues to focus on profitability, market growth, and product acceleration.

Oscar Health, Inc. (NYSE: OSCR) has announced that its Co-Founder & CEO, Mario Schlosser, will present at the Bank of America Securities 2022 Healthcare Conference on Thursday, May 12, 2022, at 8:40 AM PT (11:40 AM ET). The presentation will be available via a virtual webcast, and the link can be found in the press release. Oscar has gained the trust of over one million members and focuses on making healthcare accessible and affordable through its full stack technology platform.