Oscar Health posts $15M loss in Q2

Oscar Health posted a $15.4 million loss in the second quarter of 2022, down from a $112.1 million loss in the same period last year, according to the company's earnings report published Aug. 8. 

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. 

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