Healthcare costs are rising despite value-based care and telehealth solutions. But, we should also consider social determinants of health that impact health because, they are the conditions in which people are born, live, grow, work and age.
Inspite of rising costs, there is one company; Oscar Health that has announced to expand its plan offerings in three additional states- Arizona, Florida, and Michigan. It plans to expand markets in Ohio, Tennessee, and Texas as well. This is despite proposed double-digit premium hikes for some of the exchange plan next year.
The company has stated due to their sustained expansion, Oscar Health is positioned as one of the fastest-growing insurers in the USA. Oscar Health operates in six states at present. It has also enrolled over 250,000 members in 2018, up from 100,000 last year.
If this expansion is approved, Oscar Health plans will be made available in nine states in 2019. This is in wake of some insurers proposing double-digit premium hikes next year. Maryland CareFirst has requested a 91.4% increase in premium for its individual PPO Plans (Preferred Provider Organization), as they are concerned about repeal of the individual mandate.