Becker's Healthcare May 7, 2024
Oscar Health reported $177.4 million in net income in the first quarter of 2024, its first profitable quarter.
The insurer published its first-quarter results May 7. Total revenue in the quarter was $2.1 billion, up 46% year over year. The increase was due to increased membership, increased rates and lower risk-adjustment costs, according to a May 6 company news release.
Oscar Health had 1.45 million members as of March 31, a 42% increase from the same time period last year. Most of Oscar’s members are enrolled in individual and small group plans.
“Our performance lays a solid foundation for 2024, and gives us a clear line of...
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