"We're confident that when the dust settles, the market for health insurance will stabilize in time for 2018", the blog post states. The startup has filed to continue selling Oscar for Business in the state of NY, where it started to offer the service in January then rolling on to California a couple months back. The move marks the company's effort to regain customers in New Jersey and Dallas-Fort Worth where it exited previous year amidst uncertainty in those markets.
If an insurer misses the Wednesday deadline, regulators could still choose to accept a last-minute application, as they did previous year in Arizona, to make sure residents had access to a policy through the state marketplace.
What's more, Oscar Health will continue selling health insurance to businesses, families, and individuals in NY in 2018. "For all the political noise, there are simply too many lives at stake for representatives in Washington, D.C. not to do what's right for the people".
Oscar is focused on the long term for more affordable care, which includes more transparency into what things cost and erasing the friction between hospitals and insurers, he said, without giving details.
Enough insurers are planning to sell coverage on the Affordable Care Act's insurance exchanges next year to keep them working - if only barely - in most parts of the country. Schlosser told Modern Healthcare last week that the individual market would surely be different in the future, but is betting it will be "a good market to deliver health insurance in". New Jersey employers enrolled in Oscar for Business will have access to the NY network.More news: Eurozone economy enjoyed 'best quarter in over 6 years'
The company says it has filed a request with the federal government to begin selling plans in Travis, Williamson, Hays, Comal and Guadalupe counties during enrollment this fall. The nation's second largest insurance company, Anthem (ANTM), already said it would extract itself from the OH exchange next year and the company's CEO has been clear about the uncertainty of continued overall participation.
Anthem said it would not publicly disclose its filing decisions, but states could choose to do so.
Oscar's expansion plans are subject to regulatory approval. expansion are subject to regulatory approval.
The early picture for 2018 looks much like it did for previous years: Insurers are retreating from some markets or charging a lot more to stay in others. "There are some markets that are doing fine", he said, while others, particularly rural ones, could still be left without an insurer willing to offer coverage. A year later, like several national carriers, Oscar scaled back its offerings in the state, citing financial losses.