Oscar Health Hits Record Profit As Obamacare Enrollment Grows And Costs Fall

Oscar Health posted a record $679 million first-quarter profit as revenue rose 53% and membership grew to 3.2 million.

Growth came from expansion into new markets, including Alabama and Mississippi, along with stronger Obamacare enrollment.

A lower medical loss ratio reflected easing claims costs, improving margins and boosting the company’s outlook.

The results signal strong demand and better economics in the individual ACA market, helping Oscar outpace rivals.