Oscar Health Inc - OSCR STOCK NEWS

Oscar Health has partnered with the University of Miami Health System and Jackson Health System to provide health insurance plans in Miami-Dade County starting in 2022. These plans will be available during the upcoming Open Enrollment Period, allowing residents access to a network of top healthcare providers. Oscar's offerings will include 24/7 virtual urgent care at $0 and $0 Tier 1 prescriptions. The initiative aims to enhance healthcare accessibility for those affected by COVID-19, as approximately 25% of Florida residents may lack insurance due to job loss.

Oscar Health (NYSE: OSCR) has partnered with Cigna to launch affordable health insurance products specifically for small businesses in Chicago and surrounding counties. Starting with plans that offer $0 copay for virtual doctor visits and low-cost prescription coverage, this initiative aims to support small businesses struggling post-pandemic. The partnership will allow businesses to choose from various plan options while ensuring access to quality healthcare providers. Both companies will share risk under a reinsurance agreement, with plans for future expansion.

Cigna and Oscar Health have announced a partnership to provide affordable health insurance products to small businesses in Kansas City and St. Louis, pending regulatory approval. Covered employees will enjoy $0 copays, 24/7 virtual doctor visits, and low-cost prescription coverage. A recent survey revealed that 88% of small business owners prioritize employee health, with 66% considering insurance more crucial than before the pandemic. The partnership aims to support small businesses amidst ongoing COVID-19 challenges by offering tailored health plans and dedicated care teams.

Oscar Health, Inc. (NYSE:OSCR) announced that Co-Founder & CEO Mario Schlosser will participate in a fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference on September 14, 2021, at 4:15pm ET. The event will be available via virtual webcast on Oscar’s investor relations site. Oscar is focused on improving health insurance through technology and currently serves approximately 560,000 members as of June 30, 2021, with a mission to make health care more accessible and affordable.

Oscar Health, Inc. (NYSE: OSCR) announced that CEO Mario Schlosser will present at the 2021 Virtual Wells Fargo Healthcare Conference on September 9, 2021, at 12:40 PM ET. Oscar is recognized for its technology-driven health insurance model, focusing on member engagement and affordable care. As of June 30, 2021, the company serves approximately 560,000 members, offering Individual & Family, Small Group, and Medicare Advantage plans, along with its technology platform, +Oscar.

Oscar Health announced plans to expand its Individual & Family market presence in 2022 by offering health insurance in 3 new states and 146 additional counties. This growth will increase Oscar's total footprint to 22 states and 607 counties, marking its fifth consecutive year of expansion. New Individual and Family Plans will be offered for the first time in Arkansas, Illinois, and Nebraska. Oscar also plans to launch a diabetes plan featuring zero-cost exams and capped insulin costs, focusing on personalized member care and expanded access to services.

Oscar Health (NYSE: OSCR) reported strong Q2 2021 results, with total direct policy premiums reaching $838.1 million, up 44.4% YoY. Membership growth and a lower Medical Loss Ratio (MLR) contributed to the performance, despite the MLR increasing to 82.4%. The InsuranceCo Combined Ratio rose to 102.2% from 83.8% YoY, indicating higher costs. Net loss for the quarter was $73.1 million, widening from $40.9 million YoY. Oscar plans to expand into three new states in 2022. The company forecasts direct premiums between $3.2 billion to $3.3 billion for the full year.

Cigna and Oscar Health (OSCR) announced the launch of Oscar Virtual Primary Care on select Cigna + Oscar plans starting in 2022. This initiative aims to provide small businesses in Tennessee and Georgia with enhanced, cost-effective health benefits. Members will benefit from a $0 copay for unlimited virtual visits with primary care providers, lab tests, initial specialist visits, and vitals monitoring kits. This model seeks to improve healthcare access while reducing costs for both members and employers.