New York City, NY

Oscar Health, The New York Startup Making Healthcare Affordable For All

Laura Izquierdo

The average national cost for health insurance in 2020 was $456 for an individual and $1,152 for a family, per month. These stratospheric costs leave around 31 million Americans unable to afford basic health care, and even those who do take out insurance often find themselves unprotected, as numerous insurance programs don't even cover all forms of medical exams and treatment plans.

Working to tackle this issue is the NY-based startup, Oscar Health. Their aim is to provide affordable health insurance to everyone by leveraging telemedicine and technological interfaces to minimize the cost. Transparency is a top priority. They want to eliminate the confusion surrounding the often convoluted health insurance plans and make the terms accessible to all, not just those familiar with legal terminology.

It's the first health insurance company built around a full-stack technology platform, which means their technology can provide users with a complete service that handles the entire value chain. Users benefit from a full customer experience. It's all about building engagement, trust, and helping members live healthier lives by leveraging their personalized data to provide quality and affordable health care.

The startup announced its IPO of $37,041,026 earlier this month, with a price per share of $39.00, and its member-first philosophy and innovative approach to healthcare has earned the trust of approximately 529,000 Americans across 291 countries and Ideamotive ranks the young startup as one of the most exciting New York startups to following 2021.

Photo: National Cancer Institute via Unsplash.

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New York City, NY

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