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  #11  
Old 05-18-2015, 11:36 AM
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Originally Posted by Dismal Science View Post
Found a more recent article reflecting 2015 results:

http://www.cnbc.com/id/102597584
I'm pretty surprised that they have that kind of membership given that their silver plan is one of the more expensive ones in the NYC area.
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  #12  
Old 05-18-2015, 11:44 AM
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I'm pretty surprised that they have that kind of membership given that their silver plan is one of the more expensive ones in the NYC area.
Is there any element of coolness/hipness that might attract a higher-than-average chunk of younger cohorts who (post-APTC) might be willing to pay a premium for coolness/hipness? Or the newness? I.e. they get some utility out of avoiding being a customer of the stodgy old established companies.
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  #13  
Old 05-18-2015, 11:50 AM
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Is there any element of coolness/hipness that might attract a higher-than-average chunk of younger cohorts who (post-APTC) might be willing to pay a premium for coolness/hipness? Or the newness? I.e. they get some utility out of avoiding being a customer of the stodgy old established companies.
That's a pretty die-hard hipster right there. "Oh yeah my health insurer? Well you probably haven't heard of them"
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  #14  
Old 05-18-2015, 12:09 PM
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Originally Posted by FormLetter View Post
Is there any element of coolness/hipness that might attract a higher-than-average chunk of younger cohorts who (post-APTC) might be willing to pay a premium for coolness/hipness? Or the newness? I.e. they get some utility out of avoiding being a customer of the stodgy old established companies.
They do have a heavy emphasis on technology and marketing. Just look at how they package the ID card. Just like unboxing a more expensive and shittier iPhone, amirite?

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  #15  
Old 05-18-2015, 01:16 PM
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I keep thinking of name recognition. Like the investors somehow think it won an academy award or something. Sorry, that's the thought I had when I saw the thread title. And, certainly the market valuation is absurd.
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  #16  
Old 05-18-2015, 01:29 PM
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The family of one of the founders (Josh Kushner) has an interesting history.

His father was imprisoned for illegal campaign contributions, tax evasion, and witness tampering.

http://en.wikipedia.org/wiki/Charles_Kushner

Josh Kushner was also a cofounder of Vostu gaming in Brazil - a company that went bankrupt after being sued by Zynga for blatantly copying their games.

http://en.wikipedia.org/wiki/Joshua_Kushner
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  #17  
Old 05-18-2015, 01:40 PM
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I'm curious what the health actuaries on this board think about Oscar Health Insurance.

Official site: https://www.hioscar.com/

NYT Article: http://www.nytimes.com/2014/03/29/bu...-new-york.html

It seems that they exclusively offer individual plans through the public exchanges or brokers. They are only offered in NYC at the moment and rent their network from Magnacare. They also outsource the claim processing.

Oscar is attracting a lot of venture capital money and has been valued at over $1.5B based on the last round of funding.

It seems like they are almost exclusively investing in technology and marketing. I'm struggling to see how this company survives and why it would attract so much funding with seemingly no competitive advantage and plenty of disadvantages.

Anyone see something that I don't see?
Seems like it would be a lot easier to offer specific technologies to sell insurance companies as opposed to coming up with a handful of differentiators and build a whole company out of it.

Why do they want the claims risk?
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  #18  
Old 05-18-2015, 02:32 PM
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Seems like it would be a lot easier to offer specific technologies to sell insurance companies as opposed to coming up with a handful of differentiators and build a whole company out of it.

Why do they want the claims risk?
Not only the claims risk but the regulatory risks. If you have to rely on Risk Corridor then you're going to have a bad time, imo (albeit my opinion is a relatively inexperienced one).
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  #19  
Old 05-18-2015, 05:16 PM
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Seems like it would be a lot easier to offer specific technologies to sell insurance companies as opposed to coming up with a handful of differentiators and build a whole company out of it.

Why do they want the claims risk?
Yeah - I feel like they should have tried to be a broker or TPA instead...

No idea why they would want the claim risk for what they are trying to accomplish. They seem completely out of their depth.
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  #20  
Old 05-18-2015, 05:27 PM
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Having read the article, it seems they have a strong transparency tool (supposedly) for their members to use so they can be like "MRI $1200 here, MRI $2000 over there, I'll go to the cheaper one".

Now I re-read it, and it says it provides "estimates" based on the claims data of the company whose network they're renting. So would that be a range or a point value? If it's a point value, and I'm in MagnaCare's network, I will search for the services that I provide and go bitch to them asking for more if I find out I'm the cheap one for that service in their network. That's usually the reason carriers go along with providers in not providing true transparency. Not to mention so much of care doesn't permit you to check prices ahead of time.

So they're renting a network from someone they're apparently competing with too, so at least one competitor has a competitive advantage in cost basis.

Maybe they're hoping the transparency tool leads lower average unit costs and overall savings?
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