Health insurance startup Oscar Health is gearing up for a 2021 IPO - Business Insider

This story is available exclusively to Business Insider subscribers.Oscar Health, the health insurance company cofounded by Joshua Kushner and Mario Schlosser, is prepping for a public listing in 2021, says Axios.

The New York-based company initially aimed to provide coverage under the Affordable Care Act at the beginning of its launch in 2012, but has since expanded into other health insurance markets. It's raised around $1.5 billion from major venture capital firms, including Thrive Capital, Alphabet, and Founders Fund, and is now hiring banks ahead its plans to go public.

Though the move isn't a surprise in today's startup IPO market, it's suspected to be loosely tied to the election, as the winning candidate may work to shake up the health insurance industry.Oscar, the health insurance company cofounded in 2012 by Joshua Kushner and Mario Schlosser, has hired banks to help the firm go public in 2021, Axios has learned from multiple sources.

The New York-based company has raised around $1.5 billion in venture capital, including from Kushner's Thrive Capital, Alphabet, and Founders Fund. The startup IPO market is on fire, so it's not surprising to see Oscar move toward a public listing. That said, its fortunes could be tied a bit to the presidential election, since the winning candidate may work to enact major health insurance industry changes.

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