Oscar – Insurance for Millennials?

Insurance is a complex industry for those choosing a plan (not to mention those developing them!). It’s incredibly hard to figure out what kind of plan you need – one company, Picwell, predicts that consumers face something like 900,000 variables when making a decision on a plan. Obviously, such a decision is intractable, and predicting your healthcare utilization for the next year with 100% accuracy is impossible.


After looking at the ads all over the NYC Subway, I decided to look up Oscar, which purports to have “Smart, simple health insurance” and is clearly advertised with Millennials in mind. Here’s the front page:Screen Shot 2016-01-10 at 10.29.29 PM

When you click on the green “Get Your Quote” button, you select a few options based on location, income, and a couple of other variables, and are given options based on your inputs:Screen Shot 2016-01-10 at 10.30.32 PM

Now, I know what you’re thinking – why choose another sleek, UX-driven startup when the incumbent insurance companies function just fine? Frankly, it’s because these guys look like they are a step ahead of the pack in terms of offering a consumer-driven, full-service healthcare network package that is easy to use, mobile-enabled, and has great perks. For example, in terms of “free” perks:

Screen Shot 2016-01-10 at 10.38.25 PM

One of my favorite things about Oscar is that they have a companion mobile application with a number of features, including telemedicine:Screen Shot 2016-01-10 at 10.38.59 PM

Their network is also easily accessed online:Screen Shot 2016-01-10 at 10.38.48 PM Again, not an advertisement, just sharing an interesting company doing cool things in the normally boring insurance space. Enjoy!



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