Datapoint: Oscar Reports First Profit

Health insurance startup Oscar Health on May 7 reported $177.4 million in net income in the first quarter of 2024 — its first-ever profit. Revenue was up 46% year-over-year, reaching $2.1 billion, which execs attributed to membership gains, rate increases and lower risk-adjustment costs. Following the most recent Affordable Care Act open enrollment period, Oscar reports 1.45 million members, about a 50% increase from the fourth quarter of 2023, according to AIS’s Directory of Health Plans.

Source: AIS’s Directory of Health Plans

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