Oscar Health, the health insurance company co-founded with Jared Kushner’s brother Joshua, has filed an IPO and announced that Barack Obama’s former campaign manager, David Plouffe, will join his board.
Why it matters: Oscar Health is one of the best efforts to disrupt the health insurance sector.
Background: Oscar was launched to provide health insurance to individuals under the Affordable Care Act, but has since diversified into other health insurance markets.
By the numbers:
- Income: The company brought in $ 1.67 billion in 2020, compared to $ 1.04 billion in 2019. However, net losses increased to $ 406.83 million in 2020, compared to $ 261.18 million in 2019.
- Members: By the end of 2020, Oscar has a total of 402,044 insurance clients, with just under 2,000 under Oscar’s Medicare Advantage plan, while the rest are individuals or small groups. In 2019, it had a total of 229,818 members.
Oscar Health’s top shareholders includes Alphabet (Google’s parent company), Fidelity, Formation8, Founders Fund, General Catalyst, Khosla Ventures and Thrive Capital (Joshua Kushner’s VC firm).
Editor’s note: The story has been updated with additional details from the submission.