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Obamacare Startup Oscar Posts $57.6 Million First-Half Loss

Bloomberg business news

Why Insurers Are Quitting Obamacare

Oscar Insurance Corp., the health-insurance startup focused on selling Obamacare plans, posted a smaller first-half loss than a year earlier, according to state regulatory filings.

Oscar, whose co-founders include Joshua Kushner and Mario Schlosser, lost $57.6 million in the first half of the year in Texas, New York and California. That’s down from $83 million a year earlier. In Texas and California, the company brought in more in premiums than it spent on care, though in New York its health costs still exceeded premiums.