Datapoint: Oscar to Exit California Exchange Market
Oscar Health will exit the California Affordable Care Act exchange market, Covered California, for the 2024 plan year, executives revealed during the insurance startup’s first-quarter 2023 earnings call. The California exit is part of a push toward profitability, as the plan “has not met our targets,” CEO Mark Bertolini said during the call. Oscar is currently the seventh-largest exchange insurer in the state, serving 44,658 members. Oscar is the fourth-largest exchange insurer nationally, with 977,408 members.
Source: AIS’s Directory of Health Plans