Ed MacConnell
Oscar to Withdraw from NJ Market Effective Jan. 1, 2017

 

In a recent release, Oscar has announced that they have decided to withdraw their plans from the New Jersey market beginning on January 1, 2017. They have concluded that instability in the market will make it challenging for them to operate effectively and to continue to deliver quality healthcare to all their members across the country.

Oscar would like to highlight a few key points in regards to this announcement:

  • Oscar will continue to serve their other existing markets without change, including New York, Long Island, San Antonio, Los Angeles and Orange County.
  • Oscar remains financially stable—they have raised more than $700M in capital to date and have over 80% of that still in the bank. This decision is not driven by short-term financial necessity, but rather by a long-term commitment to prudent, sustainable growth.
  • This does not change:
    • Previously announced 2017 NY broker commissions
    • Planned expansion to Small Group in 2017

For further details, please see Oscar’s full announcement.

If you have any questions, please contact your Total Benefit Solutions, Inc account manager at (215)355-2121