(Photo: Allison Bell/TA)
A health insurer backed by Google's venture capital affiliatesays it has raised $225 million more funding.
|The insurer, Oscar Insurance, says it now has a total of about420,000 enrollees in individual major medical coverage, MedicareAdvantage plans, and small-group health plans.
|The company reported it has about $2 billion in annual revenue,or about $5,000 in revenue per year per enrollee.
|Related: Cigna, Oscar to team up on small-business healthplans
|The New York-based company came to life in 2012, with supportfrom private investors, rather than from the ill-fated AffordableCare Act Consumer Operated and Oriented Plan funding program.
|The organizers said they wanted to bring modern technology andinsurance ideas to the health insurance market.
|One of the company's founders is Joshua Kushner, who is thebrother of Jared Kushner. Jared Kushner is President Donald Trump'sson-in-law.
|The company has received a total of about $1.5 billion infunding, according to Crunchbase.
|The investor group in the new round of funding includes theventure capital arm of Alphabet. Alphabet is the holding companythat owns Google.
|The company now operates in 15 states. In some markets, it workswith Cigna Corp. to market coverage to small groups.
|Read more:
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Allison Bell
Allison Bell, ThinkAdvisor's insurance editor, previously was LifeHealthPro's health insurance editor. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached at [email protected] or on Twitter at @Think_Allison.
