Last year, the insurer saw a nationwide enrollment of 40,000.
To reach its goal, Oscar plans to expand upon its current strategy of using narrow hospital networks to sell price-competitive plans.
“The bet we made in going deep with a couple health systems, I love what we’re doing there,” said Oscar Health CEO Mario Schlosser in an interview, according to Bloomberg. “We’ve got a very good blueprint now to go into new markets.”
Oscar — which is currently valued at $1.75 billion — currently offers plans in New Jersey, New York, California and Texas, having just debuted in the latter two this year.
While reaching a million customers would make it a larger player in the game, Oscar still has to compete with the Big Five insurers. Of a few of the top payers, UnitedHealth Group has approximately 42.3 million members and Anthem has 38.6 million.
More articles on payer issues:
Oscar Health sees low enrollment after premiering in California
Q3 comparison: 9 things to know about how 7 major payers stack up
CMS proposes hike in Medicare Advantage payments: 7 things to know
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