Oscar Health, Inc. has recently released its 10-K report, providing a comprehensive overview of its business operations and financial performance. The company, formerly known as Mulberry Health Inc., operates as a healthcare technology company in the United States, offering health plans to individuals, families, employees, and small group markets. Oscar Health, Inc. is headquartered in New York, New York, and has been challenging the status quo in the healthcare system since its founding in 2012. The company's relentless focus on member experience and dedication to making a healthier life accessible and affordable for all has earned it the trust of approximately 2.0 million effectuated members as of December 31, 2025.
The 10-K report delves into the company's financial condition and results of operations, providing insights into various key metrics. Total revenue, which includes premium revenue (net of risk adjustment transfers), investment income, and other revenues, is highlighted as an important metric to assess the growth of the business and the earnings potential of the investment portfolio. The report also discusses the medical loss ratio (MLR), selling, general, and administrative expense ratio (SG&A expense ratio), earnings (loss) from operations, and net income (loss) attributable to Oscar Health, Inc. These metrics are crucial for evaluating the company's operational performance, profitability, and cost management.
Furthermore, the report outlines recent developments, trends, and other key factors impacting performance, including regulatory updates and proposed tariffs. The company's operations are subject to comprehensive and detailed federal, state, and local laws and regulations, which continue to rapidly evolve and change. For instance, the expiration of the enhanced Advanced Premium Tax Credits (eAPTCs) in 2025 and the implementation of the Program Integrity Rules and the One Big Beautiful Bill Act (OBBBA) are expected to impact the size of the Health Insurance Marketplaces and the company's membership in future years.
The report also addresses the potential impact of proposed tariffs on various products relevant to the company's business, including pharmaceutical products, ingredients, medical devices, and supplies imported into the United States. Additionally, the 10-K report discusses membership dynamics, risk adjustment programs, and the high degree of estimation and variability involved in estimating risk adjustment transfers.
Following these announcements, the company's shares moved -4.99%, and are now trading at a price of $16.55. For more information, read the company's full 10-K submission here.
