- Major expansion in 165 new markets in 13 states through
its Individual & Family Plans
- Personalized plans for Chronic Obstructive Pulmonary Disease
(COPD), asthma, and diabetes members
- Enhanced immersive Spanish-first programs
Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), a leading healthcare
technology company, today announced its 2024 market expansion
efforts for its Individual and Family Plans, marking Oscar’s
eleventh consecutive year as a prominent carrier in the ACA
marketplace. Oscar will offer its innovative, member-centric plans
in 165 new counties, making high-quality and affordable healthcare
a reality for more consumers.
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the full release here:
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Starting in 2024, Oscar will have a footprint in 18 states and
512 counties and expand its presence in Arizona, Florida, Georgia,
Illinois, Iowa, Kansas, Missouri, North Carolina, Ohio, Oklahoma,
Tennessee, Texas, and Virginia. The expansion will improve access
to care in underserved and rural markets through Oscar’s
consumer-focused technology platform.
“Oscar’s north star has and always will be about making great
care cost less,” said Mark Bertolini, CEO of Oscar. “We continue to
meet members where they are – using our technology horsepower to
rapidly respond and adapt to their needs, break one-size-fits-all
approaches, and place power back in their hands.”
Oscar is introducing new ways of serving its fast-growing and
diverse member population. Offerings include tailored plan designs
with high-frequency care routing and engagement for members who
suffer from chronic illness, as well as enhancements to its program
for Spanish-speaking members.
New Breathe Easy Plan
Oscar is launching Breathe Easy, a plan that addresses the needs
of individuals with COPD and asthma, two leading respiratory
diseases in America. Members who enroll in Breathe Easy will enjoy
the following $0 benefits: pulmonologist and PCP visits, pulmonary
rehabilitation, oxygen services, Tier 1 preferred generics,
nicotine replacement, and behavioral health services.1 Members can
also access financial incentives for health checkups.
Enhanced Diabetes Care
Plan
Oscar will continue to offer diabetic members low cost-sharing,
high-impact clinical services, and unlimited testing supplies
through its Diabetes Care plan. Benefits include: $0 PCP visits,
diabetic foot and retinal eye exams, labs, wellness programs and
health coaching.2 Members enrolled in this plan have seen notable
results: 9% better adherence to diabetes medications, 16% higher
rates of eye exam screenings, and 12% higher rates of kidney
disease screenings.3
Immersive HolaOscar
Program
Oscar continues to expand its Hispanic and Latino member base,
more than one-third of its total membership, through its
Spanish-first program, HolaOscar. The program delivers socially and
linguistically authentic experiences with cultural care matching
and providers who speak the language. It also includes access to
Oscar’s Diabetes Care and Breathe Easy plans in select states. The
program, built by Spanish-speaking teams, has driven a net promoter
score of 72, roughly 184% higher than the industry average.
“We are making the individual market the market for everyone,”
said Alessa Quane, Executive Vice President, Chief Insurance
Officer of Oscar. “Our expansion brings Oscar’s magic to the most
vulnerable and overlooked populations – addressing chronic illness
and the diverse needs of our communities. We won't stop until all
individuals have access to the high-touch seamless care they
deserve.”
To learn more about Oscar’s Individual and Family plans, please
visit: www.hioscar.com.
About Oscar Health
Oscar Health, Inc. (“Oscar”) is the first healthcare company
built around a full stack technology platform and a relentless
focus on serving its members. At Oscar, our mission is to make a
healthier life accessible and affordable for all. Headquartered in
New York City, Oscar has been challenging the health care system's
status quo since our founding in 2012. The company’s member-first
philosophy and innovative approach to care has earned us the trust
of nearly one million members, as of June 30, 2023. We offer
Individual & Family, Small Group and Medicare Advantage plans,
and +Oscar, our full stack technology platform, to others within
the provider and payor space. Our vision is to refactor health care
to make good care cost less. Refactor is a term used in software
engineering that means to improve the design, structure, and
implementation of the software, while preserving its functionality.
At Oscar, we take this definition a step further. We improve our
members’ experience by building trust through deep engagement,
personalized guidance, and rapid iteration.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact
contained herein are forward-looking statements. These statements
include, but are not limited to, statements about our business
prospects, and our management’s plans and objectives for future
operations, expectations and business strategy. In some cases, you
can identify forward-looking statements by terms such as “may,”
“will,” “should,” “expects,” “plans,” “anticipates,” “could,”
“intends,” “targets,” “projects,” “contemplates,” “believes,”
“estimates,” “predicts,” “potential,” or “continue” or the negative
of these terms or other similar expressions. Accordingly, we
caution you that any such forward-looking statements are not
guarantees of future performance and are subject to risks,
assumptions, and uncertainties that are difficult to predict and
generally beyond our control. Although management believes that the
expectations reflected in these forward-looking statements are
reasonable as of the date made, there are or will be important
factors that could cause our actual results to differ materially
from those indicated in these forward-looking statements,
including, but not limited to, the factors set forth under the
caption “Risk Factors” in our Quarterly Report on Form 10-Q for the
quarterly period ended June 30, 2023, filed with the Securities and
Exchange Commission (“SEC”), and our other filings with the SEC.
You are cautioned not to place undue reliance on any
forward-looking statements made in this press release. Any
forward-looking statement speaks only as of the date as of which it
is made, and, except as otherwise required by law, we do not
undertake any obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise. New factors emerge from time to
time, and it is not possible for us to predict which will
arise.
1Plans are available to all eligible persons in AZ, TN and OK,
regardless of disease status. If you don’t have asthma or COPD,
these plans may offer you certain reduced costs, but you would not
be eligible for all Rewards and Incentives program offerings that
may offer additional savings.
2Plans are available to all eligible persons, regardless of
disease status. If you don’t have type 1 or type 2 diabetes, or you
have pre- diabetes or gestational diabetes, these plans may offer
you certain reduced costs, but you would not be eligible for all
Rewards and Incentives program offerings that may offer additional
savings. Coverage for benefits is limited per clinical guidelines.
These plans are not available in AZ, FL, NJ, NY, OK, PA,TX, VA.
3Data from plan year 2022, comparing diabetic members in Oscar’s
Diabetes Care plan to diabetic members not enrolled in Oscar’s
Diabetes Care plan.
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version on businesswire.com: https://www.businesswire.com/news/home/20231012101212/en/
MEDIA RELATIONS: Kristen Prestano 516-317-1486
press@hioscar.com
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