Oscar posts $226M loss in Q4

Oscar Health reported major gains in total membership but posted a net loss of $606 million in 2022, according to the company's fourth quarter earnings published Feb. 9.

Total revenues in 2022 were $3.9 billion, up 115 percent year over year. In the fourth quarter, revenues were $995 million.

Total operating expenses in 2022 were $4.5 billion, up 91 percent year over year. In the fourth quarter, operating expenses totaled $1.2 billion.

Oscar recorded a net loss of $606 million in 2022, compared to a net loss of $572 million in 2021. In the fourth quarter, the company's net loss was $226 million.

The company's medical loss ratio was 85.3 percent for 2022 and 91.6 percent for the latest quarter. 

As of Dec. 31, total membership was 1.15 million, up 92.5 percent year over year. The company has more than 1 million individual and small group members, 62,000 Cigna+Oscar members, and 4,400 Medicare Advantage members.


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