Oscar Health

Oscar Health is a direct-to-consumer health insurance carrier offering ACA-compliant individual and family plans in 20 US states, along with small group employer plans. The company was founded in 2012 by Joshua Kushner, Mario Schlosser, and Kevin Nazemi to enter the individual market created by the Affordable Care Act, building its technology platform from scratch rather than adopting legacy systems. As of early 2026, Oscar serves approximately 3.4 million members across 573 counties and 20 states, including newer markets in Alabama, Mississippi, and southern Florida.

The company operates a proprietary full-stack technology platform that powers automated claims adjudication (96% auto-adjudication rate), AI-driven care routing, and a member engagement engine. Members access benefits through a mobile app and web portal that support virtual urgent care (average 15-minute wait at no cost), prescription delivery, and Care Team concierge navigation. Oscar reported a net promoter score of 69, compared to a reported industry average, and achieved its first full-year net income profitability in 2024.

Oscar Health went public on the NYSE in March 2021, raising USD 1.2B. Full-year 2025 revenue was USD 11.7B. In Q1 2026 the company reported revenue of USD 4.65B and net income of USD 679M, with 2026 full-year guidance exceeding USD 18B. In September 2025 Oscar raised USD 410M in convertible notes earmarked for AI investment. The company is ranked 437th on the 2025 Fortune 500, 42nd in the healthcare sector.

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