Oscar Health in the headlines: 10 recent updates

Oscar Health has gone through several transitions in recent months, with shake-ups in its executive suite and exits from two state markets. 

These are 10 stories about the New York City-based payer Becker's has reported since May 12: 

1. Oscar Health stopped accepting new members in Florida on Dec. 13. In regulatory filings, the company said it had "proactively engaged" CMS to help keep its membership levels manageable. 
   
   

2. Oscar appointed Sanford Health CEO Bill Gassen to its board of directors. Mr. Gassen has served as CEO of the Sioux Falls, S.D.-based health system since November 2020. 
   
   

3. Oscar CFO Scott Blackley became the company's chief transformation officer Dec. 1. Former CFO Sid Sankaran is temporarily filling the role as the company searches for a permanent fit.
   
   
4. Oscar largely abandoned its Medicare Advantage business this fall, opting to focus on ACA exchange plans, CEO Mario Schlosser told investors in November. Mr. Schlosser said the company has exited MA markets in New York and Texas. The company's lone remaining plan is a partnership with Holy Cross Health and Memorial Healthcare System in Broward County, Fla. 
   
   

5. Oscar posted a $194 million net loss in the third quarter, an improvement of $18 million year over year. CEO Mario Schlosser told investors in November the company expects to be profitable in 2024. 
   
   

6. Former vice president and chief medical officer at Oscar Health, Sameer Amin, MD, departed the company to become CMO at L.A. Care Health Plan.
   
   
7. Health First Health Plans canceled a $60 million administrative services deal with Oscar Health, according to regulatory filings. Health First, an integrated payer-provider, indicated it intends to end its agreement for Oscar to provide Health First Medicare Advantage and individual members access to its technology platform and tools in January 2023. 
   
   

8. In August, Oscar told investors it would be pausing external deals around its technology platform, +Oscar, for the next 18 months. 
   
   

9. An Oscar stockholder filed a proposed class action May 12 in the Southern District Court of New York, alleging the company misled investors about financial issues caused by COVID-19 ahead of its initial public offering in March 2021.
   
   
10. In May, Oscar told investors the company saw major growth in enrollment and revenue in the first quarter, but reported a net loss topping $77 million and said it plans to exit the Arkansas and Colorado insurance markets at the end of 2022.