Obamacare Insurer Oscar's New Strategy Helps to Narrow Loss
- First-quarter loss falls to $25.8 million from $48.5 million
- Political challenges still loom amid Obamacare repeal effort
An Oscar Center in New York on Dec. 7, 2016.
Photographer: Kholood Eid/BloombergThis article is for subscribers only.
Oscar Insurance Corp. is starting to stem the bleeding after years of reporting large losses.
The privately held health insurer, created to sell plans under the Affordable Care Act, lost $25.8 million across three states in the first three months of this year, compared with a loss of $48.5 million a year earlier, according to regulatory filings Tuesday. The company is beginning to get a handle on its medical costs, as the premiums it collected exceeded what it spent on health services.