Oscar Health, the insurer founded by Joshua Kushner and Mario Schlosser, has filed to go public.
We read through the insurer's 208-page filing to learn more about Oscar's strategy. Here are four key takeaways. Oscar laid out its financial performance. The insurer's net loss widened to $406.8 million in 2020, from $261.2 million in 2019., as their members put off going to the doctor during the pandemic and insurers paid fewer medical claims as a result.
Oscar also sells coverage to small businesses and seniors enrolled in Medicare Advantage, a private alternative to the traditional Medicare program.just 3,200 people in the plans, according to federal data.Oscar's cofounders and Kushner-backed Thrive Capital are using a dual-class stock structure so they can keep control of the companyIt said that after it completes the IPO, it will have two classes of common stock: Class A and Class B.
This is the insurance that Josh Kushner started and for one year was the only insurance Cleveland Clinic was accepting excluding Medicare.
How are things with the capitol now?