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☆ Struggling insurance upstart Oscar is making a long shot bet on a Trump-era program to fuel growth
  + stars: | 2024-01-16 | by ( ) www.businessinsider.com   time to read: +6 min
The New York insurance company has struggled to find its footing for years. At the top of the list is this little-known Trump-era policy, which offered employers a new way to give workers health benefits. Oscar has struggled with deep lossesBertolini is the former CEO of the insurance company Aetna. The company raised its health plans' prices and renegotiated contracts with healthcare providers and vendors — including its pharmacy-benefit manager — to lower expenses. In the future, Oscar plans to design specific health plans that cater to those types of customers.
Persons: —, Joshua Kushner, Mario Schlosser, Oscar, it's, Mark Bertolini, It's, Bertolini, Trump, Ari Gottlieb, Elijah Nouvelage, haven't Organizations: Service, Business, New, Morgan Healthcare, Aetna, Reuters, HRAs Locations: New York, ICHRAs
☆ The former CEO of Aetna shares how he plans to turn around the struggling health insurer Oscar
  + stars: | 2023-03-30 | by ( ) www.businessinsider.com   time to read: +6 min
Oscar Health struggled to upend the entrenched health insurance industry. Oscar Health has been trying and struggling to upend the US health-insurance industry and the entrenched giants that dominate it for the past 10 years. Oscar Health incoming CEO Mark Bertolini Bridgewater AssociatesLast year, Oscar lost a $60 million contract with its first client, Health First Health Plans. Bertolini wants Oscar to disrupt health-insurance giantsMario Schlosser, founding CEO of Oscar Health Eduardo Munoz/ReutersDespite losing the Health First deal, Bertolini is betting that Oscar will disrupt the insurance industry through partnerships. Oscar has developed health plans with health systems in the past.
☆ Former Aetna CEO to Take Helm of Health Insurer Oscar
  + stars: | 2023-03-28 | by ( Anna Wilde Mathews | ) www.wsj.com   time to read: 1 min
Mark Bertolini said he would initially focus on ensuring Oscar meets its goal of having profitable insurance business this year. Mark Bertolini , former chief executive of health insurance giant Aetna Inc. and hedge fund Bridgewater Associates, will take the helm of Oscar Health Inc. as it seeks to turn a profit and carve out a role as a technology supplier in the healthcare industry. Mr. Bertolini, 66 years old, will take the post effective next Monday, the company said. He will succeed Mario Schlosser , 44, who co-founded Oscar in 2012 with Joshua Kushner and will take the new title of president of technology, reporting to Mr. Bertolini.
☆ Oscar Health CEO shakeup: Mark Bertolini to take over April 3
  + stars: | 2023-03-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOscar Health CEO shakeup: Mark Bertolini to take over April 3Mark Bertolini, incoming Oscar Health CEO, and Mario Schlosser, co-founder and outgoing Oscar Health CEO, joins 'Squawk Box' to discuss why Schlosser decided to let go of executive control, Bertolini's first plans when he takes over as CEO and more.
☆ Health insurance upstarts that grew fast while bleeding money now say they want to turn a profit. They're raising premiums, exiting markets, and leveraging their size to get there.
  + stars: | 2023-01-13 | by ( ) www.businessinsider.com   time to read: +6 min
Newly public health insurers Bright, Clover, and Oscar historically have prioritized fast growth. Now that it's become harder to raise capital from investors, the insurers Bright Health, Clover Health, and Oscar Health have shifted their strategies toward making money. Bright Health, in particular, was forced to take extreme measures that will see it cover members in just one state this year, after serving people in 17 states in 2022. Here's what Bright, Clover, and Oscar said they're doing to reach a profit, from raising the premiums of their health plans to exiting the markets they once bet big on. Clover slashed its participation in a federal programClover Health CEO Andrew Toy Clover HealthClover also slashed its footprint in a major program to bring down costs.
☆ Oscar Health CEO Mario Schlosser shares how the health-insurance upstart plans to finally turn a profit after years of losses
  + stars: | 2023-01-12 | by ( ) www.businessinsider.com   time to read: +7 min
Oscar Health has bled money since it was founded more than a decade ago. Oscar Health, the 10-year-old health insurer, has never turned a profit. In an interview with Insider in November, Schlosser said Oscar had already done the legwork to turn a profit. Oscar is doing a better job at lowering patients' medical costs and is raising the prices of its health plans, he said. In 2013, Oscar met with outside actuaries to price its first health plans, Schlosser said.
☆ NYC Mayor Eric Adams asks tech executives at private dinner to keep companies in the city
  + stars: | 2022-09-16 | by ( Brian Schwartz | ) www.cnbc.com   time to read: +4 min
At a private dinner Wednesday at New York's swanky Le Pavillon, New York City Mayor Eric Adams called on tech executives to keep their companies in the city, even as industry leaders raise concerns to city officials of soaring rents and an increase in violent crime. He told the more than two dozen tech leaders: "New York City needs and wants technology companies," another attendee said, adding that city officials want tech companies to "help grow the economy of this city." Adams' spokesman Fabien Levy confirmed the mayor spoke to the tech executives, but said, "Mayor Adams wasn't there for dinner." "While we don't discuss private conversations, Mayor Adams always welcomes and encourages businesses to come to NYC," Levy said in an email. Conway said in an interview, noting that it's important for tech leaders and companies to be civically engaged.
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