Oscar Health(NYSE) OSCR

Oscar helps individuals and families find affordable health insurance plans through an easy-to-use digital platform. The company provides personalized tools that connect members with doctors and manage medical costs. These services simplify the complex process of choosing and using healthcare coverage.

The Product Menu

• Individual and Family Plans: Health insurance policies sold through government marketplaces and private channels; serves roughly 2 million effectuated members.
• +Oscar Platform: Technology services that help other healthcare companies engage patients using data and artificial intelligence.
• Brokerage and Enrollment: Tools for insurance brokers and consumers to shop for medical and supplemental health products.

New Moves and Growth

• Acquired Lucie, Inc. in 2025 to gain a direct enrollment technology platform approved by the government.
• Purchased IHC Specialty Benefits, Inc. in 2025 to expand into individual medical and supplemental insurance brokerage.
• Integrated Healthinsurance.org in 2025 to provide consumer education and lead generation for the health insurance market.
• Expanded insurance offerings to 20 states for the 2026 policy year, up from 18 states in 2025.

What Makes Oscar Different?

Oscar uses a custom-built, cloud-native technology stack that controls everything from claims processing to member outreach. This single platform allows the company to automate administrative tasks and provide a high-quality digital experience that exceeds industry averages for member satisfaction.

By the Numbers

• Total revenue reached $2.8 billion in Q4 2025, representing a 17.3% increase year-over-year.
• Free cash flow grew to $662.8 million in Q4 2025, up 95% from $340 million in Q4 2024.
• Net loss widened to $352.6 million in Q4 2025, compared to a loss of $153.5 million in Q4 2024.
• Operating cash flow hit $671.9 million in Q4 2025, a 93.7% increase over the previous year.

Bottom Line

Oscar has transformed from a startup insurer into a scaled technology company that manages health plans and provides software to industry partners. Its focus on digital engagement and expansion into insurance brokerage supports its long-term goal of building a consumer-focused healthcare marketplace.