Zachary Tracer at Bloomberg recently reported on Oscar’s first quarter results. They are mixed. They are only losing $25 million dollars this quarter instead of almost $50 million dollars.
The privately held health insurer, created to sell plans under the Affordable Care Act, lost $25.8 million across three states in the first three months of this year, compared with a loss of $48.5 million a year earlier, according to regulatory filings Tuesday. The company is beginning to get a handle on its medical costs, as the premiums it collected exceeded what it spent on health services…
The company’s membership fell this year to 90,171 people as of March 31 from 106,000 across the three states a year earlier, weighing on revenue. The decision to exit markets including New Jersey and part of Texas also slowed growth. Here are the company’s results in its three states:…
Let’s look at what the financials are telling us. All are first quarter 2016 and 2017 with my own calculations.
The overall picture is still Meh. But looking deeper there are two distinct stories. Texas is a pretty good story for Oscar.