Oscar Health launched in 2012 with a straightforward goal: make health insurance less painful. Co-founded by Mario Schlosser, Kevin Nazemi, and Josh Kushner, the company built its own technology stack from scratch instead of licensing legacy insurance administration systems. Members get a clean app, virtual primary care visits at no cost, and a concierge team that helps navigate the healthcare system.
The tech platform handles everything from claims processing and provider network management to member engagement and care routing. Oscar assigns each member a care team and uses data to proactively reach out about preventive screenings, prescription refills, and specialist referrals. The company sells individual, small group, and Medicare Advantage plans across 22 states.
Oscar went public in 2021 and has been working toward profitability after years of steep losses — a common pattern for insurtech startups scaling into a heavily regulated industry. Total membership reached over 1.5 million, and the company hit its first-ever adjusted EBITDA positive year in 2024. Oscar also licenses its +Oscar technology platform to other health insurers who want modern infrastructure without building it themselves. The company employs about 3,000 people and has raised over $1.6 billion in total funding. Its headquarters are in New York City, though much of the engineering team works remotely.
