Oscar Announces Memorial Hermann Health System Is Now In-Network, Expanding Oscar’s Ability to Offer Affordable Health Insurance and Care

October 26, 2021 9:00 AM EDT
Get Alerts OSCR Hot Sheet
Price: $9.27 -5.6%

Overall Analyst Rating:
    BUY (= Flat)

Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
  • Oscar Announces Memorial Hermann Health System is now in-network, offering seamlessly connected health insurance and care in Houston, TX.
  • Oscar Individual and Family plans will be offered through the ACA marketplace throughout the Houston region.
  • Members will receive high-quality care provided by leading employed and affiliated providers with Memorial Hermann who are dedicated to improving clinical outcomes, enhancing the patient experience, and delivering value-based care.
  • Members receive savings and an enhanced experience through Oscar’s digital tools, including dedicated Care Teams and 24/7 access to Oscar Virtual Urgent Care providers at $01, and $0 Tier 1 prescriptions – an expanded offering in 2021.2

NEW YORK & HOUSTON--(BUSINESS WIRE)-- Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), the first health insurance company built on a full stack technology platform, announced today that Memorial Hermann Health System will now be in-network for its members, further expanding the network of leading providers available to individuals enrolled in Oscar's Houston Choice health insurance plans beginning in 2022.

Houston-area individuals will gain access to leading employed and affiliated providers with Memorial Hermann, as well as Oscar’s consumer-centric, tech-driven approach to health insurance.

“We’re happy to announce that we are now in-network with Memorial Hermann Health System –– an organization we have long admired,” said Tamara Ward, Oscar Senior Vice President. “The pandemic has highlighted the need for high-quality, personalized healthcare and convenient virtual care to coexist. Memorial Hermann and its employed and affiliated providers offer our members in Houston even more high-quality options for securing the care they need, when and where they need it.”

Since the beginning of the pandemic, access to affordable healthcare has become an even higher priority for individuals. During the upcoming Open Enrollment period, Houston residents who live in Oscar's coverage area will be able to purchase Oscar Houston Choice health plans that include affordable coverage from quality providers, including Memorial Hermann and HCA Houston HealthCare.

These health plans are anticipated to be sold on the federal health insurance exchange, with coverage to begin on January 1, 2022. Pending regulatory approvals, the new care plans will include:

  • Healthcare coverage designed around each members’ needs.
    • Care that's close to home. Access to Memorial Hermann’s extensive network of providers will be available across metro communities.
    • Personalized Care Teams. Members will experience Oscar’s personalized approach to health insurance. They will be assigned a dedicated team of Care Guides and clinicians who learn about their personal medical history and who can help them navigate their health plan benefits. This team can also help schedule appointments with in-network providers and help foster collaboration with those providers to deliver a seamless member experience driving total cost of care savings.
    • Convenience and savings. Oscar members have 24/7 access to Oscar Virtual Urgent Care Providers at $0 for whenever a member needs to see a doctor quickly. 3 Tier 1 prescriptions are $0 when prescribed by Oscar Virtual Urgent Care providers, too. 4
  • Easy-to-access specialty, pharmacy, and wellness benefits designed to deliver savings.
    • Affordable coverage of Memorial Hermann’s comprehensive healthcare services across all major specialties, including but not limited to women’s and children’s, orthopedics, and oncology – with no referral needed.
    • Pharmaceutical benefits beyond Virtual Urgent Care such as the $3 Prescriptions drug formulary, which includes 100 of the most commonly-prescribed medications for $3 or less.5
    • Convenient tools and perks like the Oscar App, Oscar Step Tracking, and more.

By offering access to leading health systems like Memorial Hermann, Oscar looks forward to delivering a high-quality, affordable healthcare experience that fits the lives of Houston members in 2022 and beyond.

About Oscar Health
Oscar Health, Inc. (“Oscar”) is the first health insurance company built around a full stack technology platform and a relentless focus on serving its members. At Oscar, our mission is to make a healthier life accessible and affordable for all. Headquartered in New York City, Oscar has been challenging the healthcare system's status quo since our founding in 2012. The company’s member-first philosophy and innovative approach to care has earned us the trust of approximately 560,000 members as of June 30, 2021. We offer Individual & Family, Small Group and Medicare Advantage plans, and +Oscar, our full stack technology platform to others within the provider and payor space. Our vision is to refactor healthcare to make good care cost less. Refactor is a term used in software engineering that means to improve the design, structure, and implementation of the software, while preserving its functionality. At Oscar, we take this definition a step further. We improve our members’ experience by building trust through deep engagement, personalized guidance, and rapid iteration.

1 $0 PCP visits vary by plan type.
2Only applies to Oscar’s Virtual Urgent Care services. Offerings are not available in US territories or internationally. If you have an HSA-compatible high-deductible health plan or a Secure plan, you won't be eligible for $0 visits until you meet your deductible. Prescriptions, visits and services may be limited per provider discretion.
3 If you're away from home, this benefit is not available in US territories or internationally.
4 Tier 1 prescriptions are $0 when arranged by an Oscar Virtual Primary Care Provider. Some Tier 1 prescriptions are unavailable via virtual visits. Other exclusions may apply.
5Available on most plans. Certain exclusions apply.

Media:
Oscar

Jackie Kahn, Oscar
202-538-0128
jkahn@hioscar.com

Source: Oscar Health, Inc.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Business Wire, Press Releases