Oscar Health, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 06:11 am EST
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Oscar Health, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 65.4 million compared to USD 192.91 million a year ago. Basic loss per share from continuing operations was USD 0.29 compared to USD 0.91 a year ago.
For the nine months, net loss was USD 120.7 million compared to USD 380.23 million a year ago. Basic loss per share from continuing operations was USD 0.55 compared to USD 1.8 a year ago.
Oscar Health, Inc. is a health insurance company, which has built a full stack technology platform focused on serving its members. It offers individual and family, and small group plans, and +Oscar, its full stack technology platform, to others within the provider and payor space. Its individual market primarily consists of policies purchased by individuals and families through health insurance marketplaces. The small group market consists of employees of companies with up to 50 full-time workers in various states and up to 100 full-time workers in select states. It offers health plans in the individual market on exchange and off-exchange under the five metal plan categories, such as catastrophic, bronze, silver, gold, and platinum. These plans differ based on the size of the monthly premium and the level of sharing of medical costs between Oscar and its members. Oscar brings insurance products to the market to meet various healthcare needs of consumers.