Becker's Healthcare March 11, 2022
Despite seeing revenue gains and significant membership growth, three of the largest health insurtech providers — companies that blend technological innovations with traditional insurance — posted losses exceeding $570 million in 2021.
Oscar Health saw its membership grow 49 percent year over year and as a result it saw its revenue grow to $1.8 billion in 2021, nearly quadruple the $462.8 million recorded in 2020. Despite this growth, the health insurtech posted a net loss of $571.4 million in 2021, compared to a net loss of $406.8 million recorded in 2020. Oscar attributed the net loss to a growth in its operating expenses, which grew from $865 million in 2020 to $2.4 billion in 2021.
“We maintain a disciplined...
Today's Sponsors
Today's Sponsor