Oscar Health announced that based on strong open enrollment performance to date, it will temporarily stop accepting new members in the state of Florida, beginning December 13 at 12:00 a.m. EST. Individuals seeking Oscar coverage in Florida can continue to enroll without limitation until that time. Current Oscar members in Florida who are seeking plan renewal for 2023 will not be impacted. They can renew their plan for 2023 throughout the remainder of open enrollment through the exchange or their broker. Any new Oscar member in Florida that has enrolled in Oscar for 2023 prior to December 13 at 12:00 a.m. EST will not be impacted. Oscar remains steadfast in the Florida market and intends to continue to provide coverage throughout 2023 and beyond. As disclosed in Oscar’s Q3 Form 10-Q, the company proactively engaged regulators, as a result of the changing market dynamics following market exits by certain carriers, regarding options to manage its membership growth. Prior to open enrollment, the company requested that regulators limit its membership growth in Florida so that total membership across all markets would be within its previously announced target range of 1M members, +/-10%. This limit will allow the company’s projected membership not to exceed the company’s targets for 2023 and maintain its strong financial position.
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