A health insurer backed by Google’s venture capital affiliate says it has raised $225 million more funding.
The insurer, Oscar Insurance, says it now has a total of about 420,000 enrollees in individual major medical coverage, Medicare Advantage 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.
The New York-based company came to life in 2012, with support from private investors, rather than from the ill-fated Affordable Care Act Consumer Operated and Oriented Plan funding program.
The organizers said they wanted to bring modern technology and insurance ideas to the health insurance market.