Oscar Health Reports a Loss and Fewer Members Despite Operating in a Robust Obamacare Market
August 11, 2023
Oscar Health, a major provider of individual health insurance coverage under the Affordable Care Act (Obamacare), reported a quarterly loss of $15 million along with a decline in membership. The company’s health plan membership dropped to 970,543 in the second quarter, down from nearly 1.04 million members in the previous year. Despite narrowing its losses compared to the previous year, Oscar’s financial performance highlights challenges in the competitive individual health insurance market under Obamacare, where other companies like Cigna and Centene reported record growth in sales.
Recent News
Indeed Announces 1,000 Workers Will Be Laid Off
The job search engine is experiencing some layoffs of its own.
Walmart To Lay off Hundreds of Corporate Staff Members
Walmart is set to lay off hundreds of its corporate staff members. The retail giant will also ask their remote workers to return to the office on a hybrid schedule.
Diamond Industry Shakeup: Anglo Divorces De Beers
The diamond industry is facing a seismic shift as Anglo American Plc announces plans to part ways with its iconic De Beers business.
Home Depot’s First-Quarter Revenue Disappoints
Home Depot, a major player in the home improvement retail sector, recently released its fiscal first-quarter earnings, revealing a complex picture of consumer behavior influenced by economic factors. While the company’s earnings per share exceeded expectations, its revenue fell short, indicating a trend of deferred spending among customers.