Forbes February 7, 2024
Oscar Health Wednesday reported a $150 million quarterly loss as the provider of individual coverage under the Affordable Care Act, also known as Obamacare, works its way to profitability.
Oscar, which last year shook up its management ranks and hired the former Aetna chief executive Mark Bertolini, reported a net loss of $149.8 million in the fourth quarter compared to a net loss of $226.6 million in the year-ago period. The company’s total revenue rose to $1.4 billion in the fourth quarter compared to $495 million in the year-ago period.
Founded in 2012, Oscar has yet to turn a profit but executives are forecasting that will change this...
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