Comment: It’s rough sledding for Obamacare’s crony bedfellows so far. Oscar, the oft-cited Obamacare “success”, lost $105 million on $127 million in premiums in 2015. (That means Oscar has to nearly double premiums or cut costs in half to break even.)
“A Fidelity-Investments-backed startup in New York (NY), Oscar Health Insurance, reported a major loss for 2015. It revealed a loss of more than $100 million in a recent filing to NY and New Jersey (NJ) regulators.”
[...]
“Dave Wichmann, UnitedHealth Group, Inc. (NYSE:UNH) President and CEO, believe that health insurers throughout the country are greatly challenged by expenses way costlier than projected due to public exchanges.“
Oscar Health Insurance Reports Massive Losses after $400M Investment from Fidelity Investments
March 15, 2016 by Ruchi Gupta