In 2015, Oscar Health Insurance lost $105.2 million on plans in New York and New Jersey through exchanges the Affordable Care Act created, according to International Business Times.
Here are five key points:
1. The payer lost $92.4 million in New York and an additional $13.8 million in New Jersey in state regulatory filings.
2. Since 2013, Oscar has brought in almost $330 million in investments from companies such as Goldman Sachs and Google Capital.
3. For 2016, the payer began offering plans outside of New Jersey and New York in various parts of Texas and two California counties.
4. Despite offering plans in California, Oscar only attracted 2,000 marketplace enrollees and 3,000 non-marketplace subscribers in the state.
5. Other health insurance companies such as UnitedHealth Group and Aetna have encountered financial losses on the ACA, with UnitedHealth saying it might pull out of the ACA exchanges in November.
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