From Oscar Health Plans on February 1:
There’s been a lot of attention and excitement in the industry, and we’re happy to be a part of it.
First, I’m excited to share that Oscar has recently partnered with multinational insurer AXA! It’s a great indicator of Oscar’s solid financials, and we’re excited to continue to grow.
You can learn more by reading about it here, or by following along in the notes below:
Why did Oscar pursue a quota share deal with AXA?
- All health insurers are required to hold a certain percentage of its premiums as “reserves” so that regulators can ensure that carriers have enough money to pay their future claims.
- With the AXA deal, Oscar will cede 50% of it’s premiums/claims to AXA, which will free up 50% of its capital requirements
- We expect that the deal will free up nearly $100 million in capital over the next few years, providing capital relief as we continue to grow
I’m also thrilled to report that we’ve enrolled over 250k members across six states, and expect to generate $1 billion in revenue in 2018. Learn more below:
- Oscar Health expects to generate $1 billion in revenue and sign up 250,000 members in 2018 (TechCrunch)
- Oscar Health CEO: We are shaking up the health care system. Here’s how (CNBC Squawk Box)
We’re grateful to have you as a partner during this exciting time of growth at Oscar. If you’ve written Oscar business and haven’t yet filled out our survey, please click the link. Five minutes of feedback could make a big difference!
National VP of Sales