Oscar Freezes ACA Signups in Florida, Citing ‘Market Exits by Certain Carriers’
In a move made at a critical juncture in the annual Affordable Care Act open enrollment period, Oscar Health, Inc. recently said it will “temporarily stop accepting new members in the state of Florida.”
Industry observers tell AIS Health, a division of MMIT, that the decision is clearly linked to fellow startup Bright Health Group, Inc.’s exit from all 15 states in which it was set to sell plans next year. But they’re divided on what the implications are for Oscar’s viability as a business.
In a Dec. 12 press release, Oscar — which was founded in 2012 and went public in 2021 — said that it “proactively engaged regulators [in Florida], as a result of the changing market dynamics following market exits by certain carriers, regarding options to manage its membership growth.”