Becker's Healthcare May 8, 2024
Oscar Health and Cigna will discontinue their co-branded Cigna + Oscar business at the end of 2024.
On a May 7 call with investors, Oscar CEO Mark Bertolini said it chose not to renew the offering in 2025 as part of its strategy to focus on the individual market.
Launched in 2020, Cigna + Oscar offers group insurance plans for small businesses. The venture had 61,428 members as of March 31, 2024, according to Oscar Health’s first-quarter earnings report.
Mr. Bertolini told investors both Cigna and Oscar “tried very hard” to get the business to a profitable place, but they could not find a way to make the Cigna + Oscar product work long term.
“More...
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