The move will double its current footprint. Three of the additional markets will be in new states for the insurer: Florida, Arizona and Michigan. The other three markets are in large metro areas in Ohio, Tennessee and Texas.
All filings are subject to regulatory approval.
In May, Oscar CEO Mario Schlosser hinted to Bloomberg about the expansion. Important to Oscar’s success are its narrow networks with hospital systems, such as its relationship with Cleveland Clinic. Cleveland Clinic teamed up with Oscar for a co-branded health plan in June 2017, and the organizations estimate their new health plan holds 15 percent of Cleveland’s health insurance market after enrolling 11,000 members for 2018. Mr. Schlosser in May said Oscar will pursue these same types of relationships in its new markets.
More articles on payers:
CEO of Sentara-owned insurer to hospitals: ‘Don’t think you can duplicate’ Kaiser’s health plan
BCBS lets Mayo in on decision-making with new 5-year contract
Anthem completes acquisition of palliative care provider Aspire Health: 3 things to know
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.