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August 23, 2019

Oscar to offers health insurance plans in six new US states

American health insurance Oscar Health has revealed plans to offer its products in six new US states and a total of 12 new markets by next year.

The move, which is subject to regulatory approval, will expand the company’s total geographic footprint to 15 states and 26 markets.

It marks the third succeeding year of Oscar’s business expansion.

As part of its expansion plan, Oscar will foray into Florida to sell insurance products in Miami, Tampa, Ocala and Daytona.

Additionally, the New York-based health insurer will expand to Philadelphia, Pennsylvania in Denver, Colorado; and Richmond markets in Virginia.

Furthermore, the insurer will enter Atlanta, Georgia; and the Kansas City metropolitan area across Missouri and Kansas.

Oscar will expand in Houston in Texas besides foraying into a number of counties in Western Michigan.

Oscar CEO and co-founder Mario Schlosser said: “Oscar’s expansion proves that our commitment to making health care easy — by developing seamless technology and providing personalised support — is working.

“I have never been prouder of the work Oscar is doing to positively impact our members’ lives. We look forward to serving our new and current members in 2020.”

Concurrently,  Oscar will also roll out Medicare Advantage plans in New York in collaboration with Montefiore Health System. The plan was first revealed in July this year.

Oscar Health, which raised $165m from Alphabet in March 2018 at a valuation of $3.2bn, will also launch the plan in Houston, Texas.

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