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Oscar Health, Inc.: Business Overview, Financials & Competitive Analysis

Oscar Health is a health insurance company that provides various insurance plans for individuals, families, and employees. The company leverages technology to drive operational efficiency and profitability in a challe...

Analyst-debate audio for Oscar Health, Inc.

AskCyborg analysts argue the bull and bear cases for Oscar Health, Inc. across 11 stress-tested dimensions. Listen on your commute -- faster than reading the 30-page report.

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6/ 10Solid

Cyborg Score thesis

Turnaround play positioned for profitable growth in 2026 if operational guidance achieved despite near-term uncertainty from...

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Industry Health Insurance
3 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 7, 2026
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Oscar Health, Inc. Overview

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Oscar Health is a health insurance company that provides various insurance plans for individuals, families, and employees. The company leverages technology to drive operational efficiency and profitability in a challenging health insurance environment. Full-year 2025 total revenue rose to $11.7 billion from $9.2 billion, driven by higher membership.

Strategic Profile

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Oscar Health targets profitability in 2026 driven by record membership growth, improved margins, disciplined cost management, and AI-driven operational efficiencies. Oscar's market share across its footprint increased from 17% in 2025 to 30% in 2026. The company emphasized plan design and distribution efforts ahead of the enhanced premium tax credit expiration, including the creation of new Bronze and Gold plans and a 60% expansion in broker partnerships.

Competitive Landscape

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Despite industry headwinds, OSCR's individual member retention remains strong, supporting optimism for revenue growth and market share gains. Within its footprint, market share surged from 17% in 2025 to 30% in 2026, signaling strong competitive positioning even as the overall ACA market shrinks. Oscar competes with established insurers including UnitedHealth, Anthem, and Aetna in the individual ACA and small group markets.

Industry Context

Oscar Health, Inc. operates in Health Insurance.

Key facts

Founded: 2012 · Headquarters: New York, US · Revenue: $11.7B

What the analysts stress-tested

The top findings that survived the multi-agent debate for Oscar Health, Inc..

  • Bertolini reported 3.4 million members as of February 1, 2026, and the company expects to start the second quarter with approximately 3 million paid members, which would represent a 58% increase year over year.
  • For 2026, Oscar guides to total revenue of $18.7–$19.0 billion, a medical loss ratio of 82.4–83.4%, an SG&A ratio of 15.8–16.3%, and $250–$450 million of earnings from operations, implying a planned return to profitability.
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2026Oscar Health entered into a $475.0 million secured three-year revolving credit facility
  • February 2026Company reported 3.4 million members and expects 3 million paid members by Q2 2026, representing 58% YoY growth
  • +1 moreTrack every material event for Oscar Health, Inc. as it happens. Explore monitoring →
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

UnitedHealthcareLargest US health insurer with diversified portfolio→AnthemMajor health insurance provider covering 40M+ members→AetnaIntegrated health insurance and pharmacy benefits→

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Industry context

Oscar Health, Inc. operates in Health Insurance. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Oscar Health, Inc. do?+
Oscar Health is a health insurance company that provides various insurance plans for individuals, families, and employees. The company leverages technology to drive operational efficiency and profitability in a challe...
What is Oscar Health, Inc.'s Cyborg Score?+
Oscar Health, Inc. has a Cyborg Score of 6/10 (Solid). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Oscar Health, Inc.'s main competitors?+
Named competitors include UnitedHealthcare, Anthem, Aetna. The full competitive landscape is in the AskCyborg report.
How can I get the full Oscar Health, Inc. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Oscar Health, Inc. research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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More Health Insurance research

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