Innovation intelligence brief
Innovation intelligence brief
Smart, simple health insurance. We’re using technology to simplify the entire health insurance experience.
What became of it
Completed · High confidence · Last verified 2026-10-17
As catalogued
Tech-first US individual-market health insurer with a consumer app, free telemedicine, concierge care teams and step-tracking rewards.
2026 reality
Oscar is a listed health insurer with 2.96 million effectuated members at 2026-06-30 (up from about 2.03 million a year earlier), selling individual (ACA) plans direct and via marketplaces plus small-group plans, with condition-specific plan designs, Oscar Virtual Care and an AI health guide (Oswell). 2025 revenue was about USD 11.7bn with a net loss of USD 443.2m (after net income of USD 25.4m in 2024); Q2 2026 revenue was about USD 4.9bn with net income of USD 361.8m, and 2026 revenue guidance is USD 18.7-19.0bn.
Scaled from a New York start-up into a multi-state carrier, IPO'd in 2021, briefly entered Medicare Advantage (2020), exited some states to pursue profitability, and changed CEO in 2023 (Mark Bertolini). Core model of a tech-driven ACA individual insurer remains.
the shift from growth to profitability after the IPO drove market exits and a sharper focus on the ACA individual market and ICHRA-style employer funding.
the reference full-stack health insurtech in the US individual market; relevance in 2026 depends on ACA subsidy policy.
Third taxonomy
REVIEW · Verified 2024 and 2025 results against the SEC-filed FY2025 release and Q2 2026 membership via Becker's. Corrected 2025 revenue from USD 11.07bn to about USD 11.7bn, added the 2025 net loss (USD 443.2m), and updated membership to 2.96m with Q2 2026 results.
Documented evidence
Services
Features
Features
Mobile
Research interpretation
Classification paths, as catalogued, connect this example to the original insurance digitalization research models.