Morning Briefing
Summaries of health policy coverage from major news organizations
Health Startup Oscar Gets Vote Of Confidence To The Tune Of $375 Million From Google's Parent Company
The Hill: Google Parent Invests $375M In ObamaCare Startup Oscar
Google’s parent company, Alphabet, is investing $375 million in Oscar Health, a startup health insurance company seeking to redefine the industry by using technology and data. The infusion of funding from the parent of a major technology giant is a vote of confidence in Oscar Health, which has been closely watched for how well it will be able to shake up the health insurance industry. (Sullivan, 8/14)
Modern Healthcare: Oscar Health To Launch Medicare Advantage Plans In 2020 With Alphabet Investment
With the investment, New York-based Oscar said it would enter the Medicare Advantage space in 2020 and expand its presence in the individual and small business markets. Salar Kamangar, a Google executive and the former CEO of YouTube, is also joining Oscar's board. "Oscar will accelerate the pursuit of its mission: to make our healthcare system work for consumers. We will continue to build a member experience that lowers costs and improves care, and to bring Oscar to more people," Oscar CEO Mario Schlosser said in a statement. (Livingston, 8/14)
Bloomberg: Alphabet Makes A $375 Million Bet On Obamacare Startup Oscar
Oscar has been selling health plans under the Affordable Care Act since 2013. The New York-based company has about 240,000 members this year, and plans to expand into several new markets in 2019. (Tracer, 8/14)
