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Oscar Health expects to generate $1 billion in revenue and sign up 250,000 members in 2018

Oscar Health expects to generate $1 billion in revenue and sign up 250,000 members in 2018
From TechCrunch - December 21, 2017

Despite repeal of the Affordable Care Acts individual mandate this week, health insurance startup Oscar Health expects to pull in nearly $1 billion in revenue and enroll a quarter of a million members in 2018.

The revenue prediction first reported in Axios and signups are quite a feat for the insurance company meant for the digital age. The company is only in its fifth year of operation and owes much of its success to the ACA, quickly vaulting the company to a $2.7 billion valuation by 2016.

The newly disclosed prediction is based on open enrollment numbers so far, according to the company. Though open enrollment was cut short this year, ending December 15th for 39 U.S. states, New York and California are still enrolling untilJanuary 31st of next year.

So far, Oscar Health says it has seen a 150 percent uptick in enrollments for 2018, compared to the previous year, and expects to hit that 250,000 number if it stays on track.

This was a year in which Americans tuned out headlines and proved that a stable, core group of consumers make up most of the market, Oscar Health CEO Mario Schlosser said. As we pursue our mission to deliver quality, affordable care to everyone, Oscar is charting an exciting growth trajectory in a resilient individual market.

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