Oscar Health

Oscar Health Insurance is a health insurance company founded in 2012 and headquartered in New York City.[1][2]

Oscar sells individual health insurance plans, both directly and through health insurance marketplaces. For 2016, it will serve select areas in New York, New Jersey, California, and Texas.

History

The company was founded in 2012 by Mario Schlosser, Kevin Nazemi, and Josh Kushner, who were classmates at Harvard Business School.[2][5] Oscar was named after Kushner’s great-grandfather.[6] Kushner was inspired to start the company after receiving an explanation of benefits from his health insurer that he was unable to understand.[6]

Oscar began insuring members in New York in 2014 and had around 16,000 members. In 2015, it expanded coverage to New Jersey and grew to about 40,000 members.[1][4]

The company has raised venture capital from Thrive Capital, General Catalyst Partners, Khosla Ventures, Founders Fund, Formation 8, Horizons Ventures, Wellington Management Company, and Goldman Sachs.In September 2015, Oscar announced a funding round with Google Ventures and Google Capital, valuing the company at $1.75 billion.