Eduardo Munoz/Reuters
- The New York-based health insurance startup Oscar Health announced it plans to sell Obamacare plans in 12 new markets next year.
- This is the third year Oscar is expanding its footprint. The company now offers plans in 26 markets across 15 states.
- Health insurance startups like Devoted Health and Bright Health are also expanding into more areas across the US.
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Health insurance startup Oscar Health just announced plans to sell Obamacare plans in 12 new markets for next year.
The expansion means Oscar will be selling Affordable Care Act plans in 26 market across 15 states for 2020. In July, Oscar also announced it would sell Medicare Advantage plans in New York and Houston for next year.
The New York-based startup mainly sells health insurance to individuals and families in the markets set up by the ACA, which is also called Obamacare. Oscar raised $375 million from Alphabet last year as it prepared to break into the Medicare Advantage market in 2020. The company was valued at $3.2 billion prior to that investment.
Other healthcare startups also plan to sell their health insurance in more parts of the US. Bright Health, which provides health plans for individuals under the ACA and to seniors in Medicare Advantage, will operate in parts of 12 states in 2020, roughly double its geographic footprint for 2019, the company said in July. Devoted Health, which got its start in Florida, has also registered as an insurer in Texas.
"Oscar’s expansion proves that our commitment to making health care easy — by developing seamless technology and providing personalized support — is working," Oscar CEO Mario Schlosser said in a statement. "We look forward to serving our new and current members in 2020."
Here are all of the new markets Oscar is entering:
- Philadelphia, PA
- Denver, CO
- Richmond, VA
- Kansas City, KS & MO
- Atlanta, GA
- Miami, FL
- Tampa, FL
- Daytona, FL
- Ocala, FL
- Houston, TX
- Dallas-Fort Worth, TX
- Several counties in Western Michigan
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See Also:
- uBiome insiders say key science at the buzzy startup was flawed from the start. Now, the company and a top science journal are investigating.
- A new study debunks the idea that the US spends more on healthcare because it doesn’t spend enough on social services
- Health insurance startups like Bright and Oscar have raked in $3 billion in venture funding. Here’s how they fared through the first half of 2019.
Source: Business Insider – feedback@businessinsider.com (Clarrie Feinstein)