Alphabet makes a $375 million bet on Obamacare startup Oscar
By
Zachary Tracer
Published
1 Min Read
Zachary Tracer
From
Bloomberg
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Insurer will reevaluate its approach to the Affordable Care Act after suffering significant losses under the U.S. program and will pull out of Dallas and New Jersey markets next year.
Startup backed by Silicon Valley investors, posted losses in New York, Texas and California in the first half of the year, the latest example of insurers both large and small losing money in new markets created by President Barack Obama’s health care overhaul.