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
