Oscar Health, Inc. (OSCR) Stock Price & How to Invest
Short answer
You can invest in Oscar Health (OSCR) by buying shares or fractional shares at any major broker, or as one holding in a healthcare or thematic basket. The thesis is a bet on a technology-first health insurer that has finally turned profitable while growing membership faster than the industry, so the wager is that its digital model and licensable +Oscar platform let it out-execute legacy insurers. The single biggest risk is policy: Oscar is a near pure-play seller of Affordable Care Act marketplace plans, so the fate of enhanced federal premium subsidies drives enrollment, the risk pool, and earnings more than anything management does.
OSCR stock price
As of 2026-07-01, Oscar Health, Inc. (OSCR) last closed at $31.90, up 91.9% over the past year. Over the past 52 weeks it has traded between $10.85 and $31.90.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Oscar Health, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Oscar Health, Inc. (OSCR) do?
Oscar Health is a US health insurance company built around a digital-first member experience rather than the paperwork and call centers of legacy insurers. The vast majority of its money comes from premiums on individual and family health plans sold through the Affordable Care Act (ACA) public marketplaces, where by early 2026 it had grown to roughly 3.2 million members, up about 56% year over year, making it one of the larger players on the exchanges. Alongside the insurance business it runs +Oscar, a technology platform it licenses to other healthcare organizations, plus brokerage and enrollment tools; that platform revenue is small today but growing faster than premiums and carries higher margins. The company was founded in 2012 by Mario Schlosser, Kevin Nazemi, and Joshua Kushner, and is now led by chief executive Mark Bertolini, a former Aetna CEO.
The investment picture in 2026 is a profitability turnaround meeting a policy overhang. After years of losses, Oscar posted a record first quarter (revenue of roughly $4.65 billion, up more than 50% year over year, and net income near $679 million) as its medical loss ratio improved and enrollment surged, and the stock roughly doubled to near multi-year highs. But Oscar is essentially a pure-play ACA insurer, which makes it unusually sensitive to the enhanced premium tax credits that made marketplace coverage cheap for millions; those subsidies are set to lapse, and if they are not extended, enrollment and the health of the risk pool could deteriorate. The result is a stock that can move sharply on legislative headlines, so how you think about it depends heavily on your view of ACA policy and your tolerance for that binary risk.
What's driving Oscar Health, Inc. (OSCR)?
1. Membership growth and share gains
Oscar grew to about 3.2 million members in early 2026, roughly 56% higher than a year earlier, expanding faster than the overall ACA marketplace. Each net-new member adds premium revenue, and the company has entered new states and counties to widen its footprint. The bet is that a simpler digital experience keeps winning enrollees from legacy carriers.
2. Turn to profitability
After years of losses, Oscar reached record profitability, reporting Q1 2026 net income near $679 million and an improving medical loss ratio of about 70.5%, down roughly 490 basis points year over year. Management reaffirmed full-year guidance for earnings from operations of $250 million to $450 million. Sustained profit, if it holds through the seasonally heavier back half, is the core of the re-rating story.
3. The +Oscar technology platform
Beyond selling insurance, Oscar licenses its +Oscar technology stack (claims automation, member engagement, care navigation) to other healthcare organizations. This platform revenue is still a small slice but grows faster than premiums and carries higher margins, giving Oscar a second, less capital-intensive line that is not purely a bet on the ACA marketplace.
4. Operating leverage and automation
Oscar leans on automation, citing very high claims auto-adjudication rates, to run leaner than traditional insurers. Its SG&A ratio improved toward roughly 15% as membership scaled. If it can keep administrative costs falling as a share of revenue while enrollment grows, incremental premium dollars should convert to profit at a higher rate than for slower peers.
What are the risks to Oscar Health, Inc. (OSCR)?
The dominant risk is policy. Oscar is a near pure-play ACA marketplace insurer, so the scheduled expiration of enhanced federal premium tax credits is an existential-level variable: if the credits are not extended, marketplace premiums could more than double for many enrollees, healthier members may drop coverage, and the remaining risk pool would skew sicker and more expensive. Oscar itself took a weighted-average rate increase near 28% for 2026 partly to account for worsening morbidity. Results are also highly seasonal and can be volatile, swinging from strong first-quarter profit to losses later in the year as the medical loss ratio climbs; full-year MLR is guided well above the Q1 figure. On top of that, Oscar competes against far larger, better-capitalized insurers, and any spike in medical costs, adverse regulatory change, or execution stumble hits a company still proving it can stay consistently profitable.
How is Oscar Health, Inc. (OSCR) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Oscar Health, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$13 billion
- Revenue (Q1 2026 quarterly): ~$4.65 billion, up ~53% year over year
- Net income (Q1 2026): ~$679 million, or ~$2.07 per diluted share, a record
- Members: ~3.2 million, up ~56% year over year
- FY2026 revenue guidance: ~$18.7 billion to ~$19 billion
- Market cap: ~$8.6 billion (stock ~$32 per share)
Figures are approximate and tied to the asOf date; verify live numbers before acting. OSCR roughly doubled in 2026 to near multi-year highs after its record first quarter, yet it still trades at a low price-to-sales ratio (around 0.5x) versus other insurers because the market prices in ACA-policy risk and the possibility that back-half losses offset early-year profit. The valuation is less a bet on a rich growth multiple and more a wager on whether the profitability turn is durable through a policy shock.
Who competes with Oscar Health, Inc. (OSCR)?
Large diversified health insurers
National managed-care giants such as UnitedHealth Group, Elevance Health, Cigna, Humana, and CVS Health's Aetna dwarf Oscar in scale, capital, and provider relationships. They compete across employer, Medicare, and Medicaid lines that Oscar largely does not, and their size lets them absorb marketplace volatility that hits a focused player like Oscar harder.
ACA marketplace-focused insurers
Insurers with heavy individual-exchange exposure, most notably Centene (a leading ACA marketplace carrier) along with regional Blue Cross plans like Florida Blue, compete directly for the same subsidized enrollees Oscar targets. This is where Oscar wins or loses members, and where subsidy policy changes hit every player at once.
Technology-driven and newer insurers
Digital-first and disruptor insurers such as Clover Health, plus Oscar's own +Oscar platform customers and health-tech firms like Collective Health, compete on member experience, automation, and data. This is the arena where Oscar's technology differentiation matters most, though several earlier challengers in the category have struggled or exited.
How to invest in Oscar Health, Inc. (OSCR)
There are three common ways to get OSCR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so OSCR sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where OSCR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Oscar Health, Inc. (OSCR)
Oscar Health is a technology-driven ACA marketplace insurer that reached record profitability in early 2026 with 3.2 million members and rising revenue, but its earnings live and die by federal subsidy policy, so the story is as much about Washington as about the company.
More on Oscar Health, Inc. (OSCR)
Whether OSCR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is OSCR a buy?, and where the stock could go from here in the OSCR stock forecast.
For income investors, whether OSCR pays a dividend and how the payout looks is covered in does OSCR pay a dividend?
Build a basket around OSCR with Walnut
Use Oscar Health, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
Is OSCR a good stock to buy right now?
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That depends on your goals, time horizon, and risk tolerance, and this is not investment advice. The bull case is a real turn to profitability, fast membership growth, and a technology platform that runs leaner than legacy insurers. The bear case is that Oscar is a near pure-play ACA insurer whose earnings hinge on federal subsidy policy, with volatile, seasonal results. Weigh both against your own portfolio.
What does Oscar Health do?
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Oscar Health is a US health insurance company that sells individual and family health plans, primarily through the Affordable Care Act marketplaces, with a digital-first member experience. Most of its revenue comes from insurance premiums. It also runs +Oscar, a technology platform it licenses to other healthcare organizations, plus brokerage and enrollment services.
Why did OSCR stock rise so much in 2026?
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The stock roughly doubled in 2026 after Oscar reported a record first quarter, with revenue up more than 50% year over year, net income near $679 million, and an improving medical loss ratio. Membership surged about 56%, and management reaffirmed full-year profit guidance. Optimism about a possible extension of ACA subsidies also lifted the shares on several occasions.
What is the biggest risk with Oscar Health?
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Policy is the central risk. Oscar is a near pure-play ACA marketplace insurer, so it is unusually exposed to the enhanced federal premium tax credits that are set to lapse. If those subsidies are not extended, premiums could spike, healthier members may leave, and the remaining risk pool would worsen. That makes the stock sensitive to legislative headlines.
Does Oscar Health pay a dividend?
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Oscar Health does not pay a dividend. As a company that only recently turned profitable, it reinvests cash into growth, membership, and its technology platform rather than returning it to shareholders. Any return from OSCR would come from share-price movement rather than income, which matters if you are building a portfolio for current yield.
How does Oscar Health make money?
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The large majority of Oscar's revenue is health insurance premiums paid by members for coverage, mostly through ACA marketplace plans. It keeps the difference between premiums collected and medical claims plus administrative costs, a gap tracked by the medical loss ratio. A smaller but faster-growing piece comes from licensing its +Oscar technology platform to other healthcare organizations.
Why are Oscar's quarterly results so volatile?
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ACA insurance is seasonal. Claims tend to build through the year, so the medical loss ratio is usually lowest early and rises later, which is why Oscar can post a strong first-quarter profit and then losses in later quarters. Its full-year MLR guidance sits well above its Q1 figure. Enrollment timing and rate changes add to the swings.
Who runs Oscar Health and who founded it?
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Oscar Health was founded in 2012 by Mario Schlosser, Kevin Nazemi, and Joshua Kushner. It is now led by chief executive Mark Bertolini, a former Aetna CEO who brings deep managed-care experience. The company is headquartered in New York and trades on the NYSE under the ticker OSCR.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Oscar Health, Inc.'s investor relations page or your broker before making investment decisions.