Oscar Health Reports Record $1.04 Billion First Half Profit

Oscar Health reported a second-quarter profit of $361.8 million, contributing to a total net income of $1.04 billion for the first six months of 2026. The company's revenues grew 70% year-over-year to $4.9 billion, supported by a membership increase to 2.9 million people. This financial growth coincides with a significant reduction in the company's medical loss ratio, which fell to 79.2% from 91.1% the previous year.

CEO Mark Bertolini attributed the turnaround to scalable technology and disciplined pricing. He raised the company's financial outlook for the remainder of the year, citing strong business fundamentals and performance that exceeds original plans.

The company's growth occurs as major competitors shift their strategies. Aetna, owned by CVS Pharmacy, exited the individual Affordable Care Act market this year, and Cigna Holding Company announced it will exit the Obamacare market in 2027.