As Insurance Startup Oscar Pulls Out Of Some Health Law Marketplaces, It Will Expand In California

Bloomberg: Insurance Startup Oscar Quits Two Markets, Rethinks Obamacare Plans
Health insurance startup Oscar Insurance Corp. will reevaluate its approach to Obamacare after suffering significant losses under the U.S. program and will pull out of two markets next year. Oscar, which pitches itself as a tech-savvy alternative to traditional health insurers, plans to end sales of Affordable Care Act plans in Dallas, a market it entered this year, and New Jersey. It’s part of a more conservative approach by the New York-based company as it plans to introduce insurance products for businesses next year. (Tracer, 8/23)

The Fiscal Times: Obamacare Startup Latest To Pull Out Of Health Care Markets
Big insurers like Aetna, Humana and UnitedHealthcare aren’t the only ones why say they’re struggling to make a profit on the public exchanges set up under the Affordable Care Act. Oscar Insurance Corp., a startup created specifically to cater to customers on the Obamacare exchanges, has also seen significant losses, prompting the young company to pull out of two markets next year, Bloomberg reports. (Braverman, 8/23)

In other health law news —

Morning Consult: Analysis: GOP Obamacare Replacement Plan Would Decrease Coverage, Lower Premiums
The House GOP’s Obamacare replacement plan would decrease coverage over the next 10 years, but lower individual insurance premiums and decrease the federal deficit by $481 billion, according to an analysis publishing today by the Center for Health and Economy and provided in advance to Morning Consult. The Center for Health and Economy is a nonpartisan research organization that provides analysis on health care in the U.S. While the analysis makes several assumptions because of the lack of detail in the Republican plan, it is among the first to evaluate the impact of the proposal. The analysis compares the GOP plan to projections under current law. (Owens, 8/24)