Oscar Partners with Colorado Health Systems to Offer Affordable Health Insurance and Care

Rhea-AI Summary

Oscar Health announces partnerships with UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado, aiming to offer Individual and Family health insurance plans in Colorado starting in 2022. These plans will be available during the Open Enrollment period beginning November 1, 2021, pending regulatory approval. The collaboration aims to improve clinical outcomes, enhance member experience, and reduce costs. Members will benefit from Oscar’s digital tools and $0 Tier 1 prescriptions. Approximately 13% of Colorado residents have lost coverage due to job losses amid COVID-19.

Positive

• Partnerships with leading Colorado health systems are expected to enhance service offerings.
• Introduction of Individual and Family health plans may attract new members during Open Enrollment.
• $0 Tier 1 prescriptions will likely improve member satisfaction and retention.

Negative

• None.

• Oscar announces partnerships with UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado to offer seamlessly connected health insurance and health care in Colorado ahead of Open Enrollment.
• Oscar Individual and Family plans will be offered through Connect for Health Colorado.
• Members will receive high-quality care provided by leading UCHealth, University of Colorado Medicine providers, and Children’s Hospital Colorado facilities. All are dedicated to improving clinical outcomes, enhancing experience, and reducing costs.
• Members receive savings and an enhanced experience through Oscar’s digital tools, including dedicated Care Teams and 24/7 access to $0 Tier 1 prescriptions – an expanded offering in 2021.¹

NEW YORK & DENVER--(BUSINESS WIRE)-- Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), the first health insurance company built on a full stack technology platform, announced partnerships with three Colorado health systems: UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado. The anticipated goal of these partnerships is to offer Oscar Individual and Family health insurance plans across Colorado beginning 2022, pending regulatory approval. Plans will be available this Open Enrollment period, beginning November 1, 2021.

Driven by the combination of UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado’s leading network of providers and Oscar’s consumer-centric, tech-driven approach to customer service and care navigation, more Colorado consumers are poised to have access to a seamlessly connected clinical and insurance experience.

“It’s never been more important for individuals to have access to high-quality and affordable health care,” said Dennis Hillen, Oscar Regional Vice President. “We’re proud to be partnering with UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado to make that vision a reality for many Colorado residents.”

With COVID-19 driving unemployment numbers, the number of uninsured individuals has been on the rise. In Colorado, 13 percent of residents have lost coverage due to job loss. During the upcoming Open Enrollment period, Colorado residents in Oscar's coverage area will be able to purchase Oscar Individual and Family health plans which includes affordable coverage of UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado’s network of high-quality providers and services.

These health plans are anticipated to be sold on the state health insurance exchange, with coverage to begin on January 1, 2022. Pending regulatory approvals, the new partnership plans and care will include:

• Health care coverage designed around each members’ needs.
  • UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado’s extensive network of providers will be accessible across metro communities with member care options available close to home.
  • Members will experience Oscar’s personalized approach to health insurance. Each member is assigned a team of Care Guides and clinicians who know the member’s medical history and can help them navigate their plan. This team can also help schedule appointments with UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado providers in the member’s area and network, and collaborate with those providers to deliver a seamless member experience and health savings.
  • Oscar Gold and Silver members have Tier 1 prescriptions at $0 when prescribed by Oscar Virtual Urgent Care providers, too.²

• Easy-to-access specialty, pharmacy, and wellness benefits designed to deliver savings.
  • Affordable coverage of UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado’s comprehensive medical services across all major specialty areas of care, maternity, orthopedics, oncology and all pediatric specialties – with no referral needed.
  • Pharmaceutical benefits beyond Virtual Urgent Care such as the $3 Prescriptions drug formulary, which includes 100 of the most commonly-prescribed medications for $3 or less.
  • Convenient tools and perks like the Oscar App, Oscar Step Tracking, and more.

Oscar looks forward to working with UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado to provide Colorado residents greater access to high-quality health care at a more affordable cost.

About Oscar Health

Oscar Health, Inc. (“Oscar”) is the first health insurance company built around a full stack technology platform and a relentless focus on serving its members. At Oscar, our mission is to make a healthier life accessible and affordable for all. Headquartered in New York City, Oscar has been challenging the health care system's status quo since our founding in 2012. The company’s member-first philosophy and innovative approach to care has earned us the trust of approximately 560,000 members as of June 30, 2021. We offer Individual & Family, Small Group and Medicare Advantage plans, and +Oscar, our full stack technology platform to others within the provider and payor space. Our vision is to refactor health care to make good care cost less. Refactor is a term used in software engineering that means to improve the design, structure, and implementation of the software, while preserving its functionality. At Oscar, we take this definition a step further. We improve our members’ experience by building trust through deep engagement, personalized guidance, and rapid iteration.

Source: Oscar Health, Inc.

¹ Tier 1 prescriptions and labs are $0 when arranged by an Oscar Virtual Primary Care Provider. Some Tier 1 prescriptions are unavailable via virtual visits. Other exclusions may apply.

² Tier 1 prescriptions are $0 when arranged by an Oscar Virtual Primary Care Provider. Some Tier 1 prescriptions are unavailable via virtual visits. Other exclusions may apply.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005176/en/

Media:

Oscar

Jackie Kahn, Oscar

202-538-0128

jkahn@hioscar.com

Source: Oscar Health, Inc.

FAQ

What are the new partnerships announced by Oscar Health?

Oscar Health announced partnerships with UCHealth, University of Colorado Medicine, and Children’s Hospital Colorado.

When will Oscar's Individual and Family plans be available in Colorado?

The plans are expected to be available starting from the Open Enrollment period on November 1, 2021.

What benefits do Oscar members receive from these partnerships?

Members will access high-quality care from partnered providers and $0 Tier 1 prescriptions.

How many Colorado residents have lost health coverage due to COVID-19?

Approximately 13% of Colorado residents have lost coverage due to job loss related to COVID-19.

When will coverage from Oscar's new health plans begin?

Coverage is anticipated to begin on January 1, 2022, pending regulatory approvals.