Five details:
1. The 80 percent figure outshines Oscar Health’s average annual development, which is 70 percent premium growth each year for the past five years.
2. Should Oscar hit the 80 percent growth target, it would bring premium revenues to between $6.1 billion and $6.4 billion.
3. The 80 percent premium growth comes from “historic” growth at the start of 2022, bringing Oscar Health’s membership above a million members.
4. Oscar Health cites membership growth most prominently in the individual and small group markets. The payer is seeing the strongest development in Florida, Texas and Georgia.
5. To further charge growth, Oscar issued $305 million in 7.25 percent convertible senior notes via private placement Jan. 26. The notes are due 2031.
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