Oscar Health, Inc. (commonly known as Oscar) is an American health insurance company that combines technology, telemedicine, and a consumer-focused approach to reshape the health insurance experience. Founded in 2012 and headquartered in New York City, Oscar was created with the goal of making health insurance simpler, more transparent, and more accessible for individuals and families. The company positions itself at the intersection of healthcare and technology, often described as a "MedTech" or "InsurTech" company because of its heavy reliance on digital tools and data-driven systems to manage care and engage members.
Oscar was co-founded by Mario Schlosser, Josh Kushner, and Kevin Nazemi. The company was born out of the changes brought about by the Affordable Care Act (ACA), which created new opportunities for individuals to purchase health insurance through public marketplaces. Oscar's founders believed that the traditional health insurance industry was overly complicated, bureaucratic, and disconnected from the people it served, so they set out to build a member-first insurance company powered by modern technology.
What the Company Does
At its core, Oscar Health is a health insurance provider. It underwrites and administers health plans for individuals, families, and small businesses. Unlike many legacy insurers, Oscar builds much of its own technology infrastructure in-house, giving it a proprietary platform that connects members, doctors, claims, and clinical data in a unified digital ecosystem.
The company's approach emphasizes a seamless digital experience. Members interact with Oscar primarily through its mobile app and online member portal, where they can find doctors, view their benefits, track claims, message care teams, and access telemedicine services. This technology-first strategy is designed to lower administrative costs, improve health outcomes, and increase member satisfaction.
Oscar also operates a technology platform business, known as +Oscar, which licenses its healthcare technology and infrastructure to other insurers, providers, and healthcare organizations. This allows Oscar to generate revenue not only from its own insurance products but also by serving as a technology partner to the broader healthcare industry.
Products and Services
Individual and Family Health Plans
Oscar offers ACA-compliant individual and family health insurance plans sold on the health insurance marketplaces (exchanges) in numerous states across the United States. These plans include a range of metal tiers—Bronze, Silver, Gold, and sometimes Platinum—allowing consumers to choose coverage based on their budget and healthcare needs. Members gain access to networks of doctors and hospitals, prescription drug coverage, preventive care, and other essential health benefits mandated under the ACA.
Medicare Advantage Plans
Oscar has offered Medicare Advantage plans designed for seniors and eligible individuals who want an alternative to traditional Medicare. These plans typically bundle hospital, medical, and often prescription drug coverage, along with additional benefits and the same digitally focused member experience that Oscar is known for.
Small Business Health Insurance
Oscar provides health insurance solutions for small businesses through its small group offerings. These plans allow employers to offer competitive health benefits to their employees while leveraging Oscar's digital tools and care coordination services.
Telemedicine and Virtual Care
One of Oscar's signature offerings is its virtual care and telemedicine services. Members can access doctors virtually, often at no additional cost, for common medical concerns. Oscar has built dedicated virtual primary care programs that allow members to establish a relationship with a doctor and care team through the app, receive diagnoses, get prescriptions, and manage ongoing health needs without needing to visit a physical office.
Concierge Care Teams
Each Oscar member is supported by a Concierge Care Team, which is a group of care guides and registered nurses who help members navigate the healthcare system. These teams assist with finding the right doctors, understanding benefits, coordinating care, resolving billing questions, and providing personalized health guidance.
The Oscar App and Digital Tools
The Oscar mobile application is central to the member experience. Through the app, members can search for in-network providers, view claims and cost estimates, access their digital insurance card, refill prescriptions, message their care team, and use telehealth services. The app is designed to make managing health insurance as intuitive as using a modern consumer technology product.
+Oscar Technology Platform
+Oscar is the company's technology and services platform that extends Oscar's proprietary systems to external clients. It offers modular technology solutions such as member engagement tools, claims processing, provider network management, and clinical care coordination. Through +Oscar, other payers and healthcare organizations can adopt Oscar's technology to modernize their own operations and improve efficiency.
Technology and Innovation
Oscar differentiates itself through its investment in proprietary technology. The company has built a full-stack technology platform that integrates claims, clinical data, pharmacy information, and member engagement into a single system. This enables real-time data analysis, personalized health recommendations, and streamlined administrative processes.
The company uses data science and machine learning to identify at-risk members, guide them toward appropriate care, and reduce unnecessary costs. By combining these capabilities with a strong emphasis on user experience, Oscar aims to deliver both better health outcomes and a more satisfying customer journey.
Mission and Approach
Oscar's mission centers on making a healthier life accessible and affordable for all. The company emphasizes transparency, simplicity, and member empowerment as core principles. Rather than treating health insurance as a purely transactional product, Oscar seeks to build ongoing relationships with its members by actively guiding them through their healthcare experiences.
This member-centric philosophy is reflected in Oscar's continued focus on preventive care, virtual health access, and personalized support. The company believes that engaging members earlier and more effectively can lead to healthier populations and lower overall healthcare costs.
Market Position
Oscar operates within the highly competitive and heavily regulated U.S. health insurance industry, competing against large legacy insurers as well as newer technology-driven entrants. As a publicly traded company, Oscar became listed on the New York Stock Exchange in 2021 under the ticker symbol OSCR. The company has expanded its footprint across multiple states, growing its membership base and refining its product offerings over time.
Oscar's dual identity as both an insurer and a technology company distinguishes it in the marketplace. Its ability to sell insurance directly to consumers while also licensing its technology platform to other organizations gives it multiple avenues for growth and positions it as an influential player in the evolving healthcare technology sector.
Conclusion
Oscar Health represents a modern reimagining of health insurance, blending technology, telemedicine, and a consumer-first mindset to address longstanding frustrations with the traditional insurance model. Through its individual, family, Medicare Advantage, and small business plans, along with its virtual care services, concierge care teams, and the +Oscar technology platform, the company delivers a comprehensive and digitally integrated approach to healthcare coverage. By continuing to invest in proprietary technology and member engagement, Oscar aims to make the healthcare experience simpler, more transparent, and more effective for the people it serves.
