Oscar posts larger profits, plans expansion: 4 notes

Oscar Health improved its underwriting profits in the first quarter of 2019 as the health insurer startup eyes further expansion, according to Forbes contributor Bruce Japsen.

Four things to know:

1. Oscar's underwriting profit increased to $81.7 million in the first quarter, up about 5 percent from $77.8 million reported in the same period a year prior.

2. Oscar also saw its premium revenue increase in the first quarter, up 13 percent year over year to $353.5 million compared to the previous year's $312.5 million.

3. The company did not disclose its total net income or loss for the first quarter, according to Forbes. It's still considered a startup.

4. According to the Business Insider, Oscar filed as an insurer in three new states for 2020: Illinois, Georgia and Pennsylvania. The insurer has also expanded in New York, New Jersey, California, Tennessee, Ohio, Texas, Florida, Michigan and Arizona.

More articles on payers:
Judge steps down from UnitedHealth case over 'immoral' denial of cancer treatment
House Democrats unveil Medicare expansion plan: 8 things to know
Humana posts $566M profit in Q1

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