Health insurer Oscar Health's expansion this year into more markets selling individual coverage under the Affordable Care Act helped grow individual membership to 240,000 who've paid their premiums. Oscar launched into the individual business when the ACA’s individual coverage known as Obamacare experienced a rocky rollout and stuck with offering such coverage even as bigger competitors like Aetna, Humana and UnitedHealth Group left the market after losing money. The bigger carriers were unable to successfully manage costs of uninsured Americans signing up for the ACA's individual coverage. Oscar, too, has had its share of losses but the company continues to draw investors and financial operations seem to be improving, according to Friday's report. In all, Oscar said it has “240,000 effectuated individual members, up from 230,000 in 2018.” Oscar sells individual and small group coverage in 13 markets located in and n states.

Source: Forbes March 01, 2019 20:03 UTC