Oscar Health Insurance Gets $1.5B Valuation

Oscar is a health insurance company that was founded to redesign how health insurers act in the digital health age after the implementation of the Affordable Care Act, and it currently has approximately 40,000 members. The company was not able to comment on valuation, but it is rumored that it is worth $1.5 billion. Led by Peter Thiel and Brian Singerman, Oscar raised $145 million at Founders Fund. Oscar is looking to expand outside of its home market in New York and into the California market, pending regulatory approvals.

Oscar started off by offering features such as telemedicine, free checkups, influenza shots, and generic drugs without referrals. However, they also offer benefits like a free fitness tracker, which rewards customers $1 per day or up to $240 per year if they meet daily activity goals.

Summary by MedicalGroups.com

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