Forbes May 7, 2024
Oscar Health Tuesday reported a $177 million first quarter profit — a first since the company was founded more than a decade ago — as the provider of individual coverage under the Affordable Care Act lives up to promises under new management.
Oscar, which shook up its management ranks and hired the former Aetna chief executive Mark Bertolini last year, reported a first quarter profit of $177.4 million, or 62 cents a share, compared to a loss of $39.8 million, or 18 cents in the first quarter of 2023.
Founded in 2012, Oscar had yet to turn a profit, but executives have said that will change this year as they remain bullish on the individual health insurance market. The first...
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