Oscar Health Announces New Health Insurance Options in Kansas City in 2025

Rhea-AI Summary

Oscar Health (NYSE: OSCR) announced its expansion of health insurance offerings in Kansas City for 2025 through the ACA marketplace. The company will provide Bronze, Silver, and Gold EPO plans featuring $3 medications, dedicated concierge care teams, and a healthcare app. The coverage will be available in 11 counties, with networks including major healthcare providers like The University of Kansas Health System and HCA Midwest facilities. Oscar is also introducing a new employer solution allowing businesses with fewer than 50 employees to offer health benefits through tax-free contributions. The company's Hola Oscar Spanish-language experience maintains an NPS of 87.

Positive

• Expanding market presence to 11 counties in Kansas City
• Established partnerships with major healthcare providers
• High member satisfaction with Spanish-language service (NPS of 87)
• Introduction of new employer-focused solution for small businesses

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), a leading healthcare technology company, today announced it will bring the Oscar experience to more individuals, families, and businesses through the ACA marketplace in Kansas City in 2025. Oscar is introducing affordable health insurance products¹ that empower everyone to pursue a healthy life on their terms with:

• Services built around personal health needs and cultural preferences.
• High-quality networks that align with their schedules, neighborhoods, and more.
• Technology solutions to help members make informed choices about their health.

The Oscar experience will be available in 11 counties in the greater Kansas City area starting January 1, 2025.

Oscar has been a proud health plan of choice in Kansas City for more than five years and ranks high in member satisfaction.² Friends and family are more likely to recommend Oscar than any other health plan.

Kansas City residents can go to healthcare.gov to select from Oscar’s plans, including:

• Bronze, Silver, and Gold EPO plans that work within any budget.
• $3 medications³ and even lower cost access for people managing specific conditions.
• A dedicated concierge care team and healthcare app worth using.

Oscar is also introducing the following new solution for Kansas City residents:

• Oscar for Employers and Employees: An offering that gives employees access to Oscar’s plans using tax-free contributions from their employer to buy individual health insurance. Businesses with fewer than 50 employees can instantly offer these benefits through stretchdollar.com/oscar.⁴

Oscar’s networks include The University of Kansas Health System, HCA Midwest facilities, North Kansas City Hospital, AdventHealth Shawnee Mission, University Health, and regional and independent facilities. Members can access all Oscar plans in Spanish through the Hola Oscar experience, which has an industry-leading NPS of 87.⁵

About Oscar Health

Oscar Health, Inc. (“Oscar”) is a leading healthcare technology company built around a full stack technology platform and a relentless focus on serving our members. We have been challenging the status quo in the healthcare system since our founding in 2012, and are dedicated to making a healthier life accessible and affordable for all. Oscar offers Individual & Family plans and health technology solutions that power the healthcare industry through +Oscar. Our technology drives superior experiences, deep engagement, and high-value clinical care, earning us the trust of approximately 1.6 million members, as of June 30, 2024.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained herein are forward-looking statements. These statements include, but are not limited to, statements about our business prospects, and our management’s plans and objectives for future operations, expectations and business strategy. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other similar expressions. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict and generally beyond our control. Although management believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, there are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the factors set forth under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024, filed with the Securities and Exchange Commission (“SEC”), and our other filings with the SEC. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Any forward-looking statement speaks only as of the date as of which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New factors emerge from time to time, and it is not possible for us to predict which will arise.

Source: Oscar Health, Inc

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¹ Oscar Medical coverage is underwritten by Oscar Insurance Company located in New York.
² Net promoter score (NPS) for Oscar members as of 1Q24.
³ Except in Standard Plans.
⁴ Applicable for employers with less than 50 employees, especially those that are new-to-insurance.
⁵ Spanish-speaking net promoter score (NPS) for Oscar members as of 1Q24.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241030502151/en/

Media Contact:

Kristen Prestano

VP, Communications

press@hioscar.com

Source: Oscar Health, Inc.

FAQ

What new insurance plans is Oscar Health (OSCR) offering in Kansas City for 2025?

Oscar Health is offering Bronze, Silver, and Gold EPO plans with $3 medications, concierge care teams, and a healthcare app in 11 counties across Kansas City starting January 1, 2025.

Which healthcare providers are in Oscar Health's (OSCR) Kansas City network for 2025?

Oscar Health's network includes The University of Kansas Health System, HCA Midwest facilities, North Kansas City Hospital, AdventHealth Shawnee Mission, University Health, and regional and independent facilities.

What new employer benefits is Oscar Health (OSCR) introducing in Kansas City for 2025?

Oscar Health is introducing a new solution allowing businesses with fewer than 50 employees to offer health benefits using tax-free contributions for individual health insurance through stretchdollar.com/oscar.