The company reported a $39.6 million loss in the first quarter of 2023.
The company brought in $1.5 billion in revenue in the second quarter, up 50 percent from $1.02 billion in the same time period last year.
Oscar Health’s membership has declined by around 7 percent year over year, with just under 1 million members. The company has 900,228 individual insurance members, 1,843 Medicare Advantage members and 68,472 members in its partnership with Cigna. Oscar Health ended a significant portion of its Medicare Advantage business in 2022.
Oscar Health’s medical loss ratio was 79.9 percent, down from 82.2 percent from the same time period last year.
