Oscar aims to significantly increase nationwide enrollment from 145,000 this year to 1 million within the next five years. 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.
Oscar, which has expanded to California and Texas after serving New York and New Jersey initially, has seen its value increase by about $1 billion since September 2015, according to The Wall Street Journal.
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