Oscar Health Care Is Leaving Covered California in 2024

Posted: December 06, 2023

Oscar Health has decided to leave Covered California in 2024 for financial reasons. If you’re currently enrolled in an Oscar plan, you can select a new plan during a special enrollment period. You can also choose a new health insurance provider during the regular enrollment period, which starts in November.

Do you have questions about your Oscar coverage or health insurance in general? Our agents are here for you. Call us today for answers.

What Is Oscar Health?

Oscar is a health insurance company headquartered in New York City. It was founded in 2012 and is known for offering a user-friendly mobile app and 24/7 virtual care.

The company joined Covered California in 2016. Its California branch is called Oscar Health Plan of California.

Currently, Oscar serves over 31,000 Californians.

Why Is Oscar Leaving Covered California?

Oscar is leaving Covered California to increase profitability, but the company hopes to reenter the market in the future.

Oscar’s California members represent a small percentage of Covered California enrollees. Its low enrollment may be part of the reason the company did not meet its business goals and experienced financial losses in 2022 and 2023.

What Will Happen to My Oscar Coverage?

When a health insurance company leaves the marketplace, this is considered a qualifying event. A qualifying event opens a special enrollment period, giving you a chance to select a new plan. Special enrollment periods typically last 60 days from the date of the qualifying event.

The regular open enrollment period is right around the corner, too, beginning November 1, 2023, and ending January 31, 2024. You can start shopping for a new plan before Oscar officially leaves the market — it’s up to you.

Browse Health Plans With Health for California

Even though Oscar will leave the California market soon, you can still stay covered. At Health for California, we make it easy to find, apply for and enroll in a Covered California plan.

We are a health insurance agency that cares about Californians and their health plan needs. We understand that health insurance can be confusing, stressful and time-consuming, but we’ve simplified the process. Through us, you can get a free quote in seconds and see a list of your area’s most affordable Covered California plans.

And, if you have any questions about health insurance, our knowledgeable agents are always happy to help.

Get your quote today, or contact us for assistance.