The health insurance industry consists of lots of major players offering a wide range of services and products. Who you patronize matters as each of these companies offer multiple benefits to clients. Going through reviews is a great way of finding a preferred service provider that meets your expectations.

In this article, we take a look at a fairly new but highly respected insurance company; Oscar Health. This private insurance company has drawn a lot of attention due to its adoption of technology. Here, we’ve provided a review about its operations with different areas clearly discussed.

About the Company

Oscar Health came onboard in 2012 and since expanded into about 18 states and counting. This company provides Exclusive Provider Organization (EPO) plans to its clients. Health institutions belonging to its network provide comprehensive medical care to patients having the Oscar Health insurance plan.

Patients in need of basic medical care, virtual medical care visits, and free preventive care with yearly visits and vaccines will find in Oscar Health a great insurance partner. This insurance company has an app that offers round-the-clock doctor-on-call service.

This service has the ability of sending prescriptions to your pharmacy. Oscar Health insurance customers are offered incentives for simply being active. These incentives are in the form of two free primary care visits, cash rewards for getting a flu shot, as well as free generic drugs.

Should I Sign up with Oscar Insurance?

There are several things about this company you’ll need to know of. This applies to other insurance companies too. Despite its many successes, Oscar insurance hasn’t built an extensive customer base yet. This is a possible explanation as to why the company has struggled with customer reviews on the Better Business Bureau.

For some clients, this might be reason enough to seek other options. If you fall into this category of clients, there’s nothing wrong with that. However, you’ll need to customer reviews between health insurance providers to have a better picture of what company is worth your patronage.

Pros and Cons of Oscar Insurance

As a prospective client, you’ll need to know what the upsides and downsides are to patronizing this insurance provider. While some of its plans great and impressive, there are aspects of such services that aren’t that great. Comparing these enables you determine what best serves your interest and needs.

  • Pros

With Oscar insurance, clients benefit from its 24/7 doctor on call online visits. Also, about $100 is available each year for attaining walking goals. There are options provided in the form of multiple plans that fit varying degrees of healthcare needs or budgets. This way, you get to choose from any that serves you best.

Oscar insurance has no requirement for referrals. This applies to all plans being offered by it.

  • Cons

While there are multiple advantages as mentioned above, there are also downsides to how the company conducts its operations. Firstly, vision and dental coverage aren’t available under its many plans. There’s also the issue of limited coverage as Oscar insurance is only available in about 18 states. Lower deductible or no deductible plans are expensive.

Oscar Health Insurance for Businesses

Apart from providing health insurance for individuals, this company extends same to businesses. These are customizable to the number of employees you have. However, unlike its insurance plans for individuals, its business insurance plans are available in fewer states.

To be more specific, this plan is issued in about 5 locations. They include Orange County, New York, Los Angeles, New Jersey, and Nashville. So, what benefits do employers get from Oscar insurance? As an employer, you get to partner with this insurance company to make payments with ease.

Through its online resources, employers are able to keep track of their employees. As an employer, keeping track of your employees in this sense simply means quickly adding or editing employees who are newly hired or who leave the company.

There’s also streamlining of member resources with data from individual health plan policy owners. Overall, Oscar insurance helps businesses easily sort their insurance needs without a problem. Business plans provided by the company are targeted at businesses with access to its hospital partners.

These hospital partners include Montefiore, Mount Sinai, and the Catholic Health Services of Long Island. If you’re wondering what Oscar Health’s business insurance plans cover, they include free care team service, free doctor-on-call service, as well as no referral requirement to see an in-network specialist.

Oscar Health Insurance Tier Plan

While the medical care for every plan is similar, there are variations in cost due to your preferred deductible options. For example, you find lower-deductible plans being offered for a higher premium. Four different tier plans provided by this insurance company cover all health-care plans.

These include the Bronze Timer which covers for up to 60% of medical expenses. The Silver Tier plan pays for around 70% of medical expenses. For the Gold Tier plan, around 80% of medical expenses are covered; Platinum Tier pays of up to 80% of medical expenses.

Who’s Eligible for the Oscar Health Insurance Plan?

Its variety of health plans ranging from Medicare Advantage, EPO, and Health Savings Account plans are ideal for different categories of individuals. Such include individuals and family members, group members inclusive of employer-covered plans, and members aged 65 and above or under with disabilities.

Oscar Health Insurance EPO Plans

This health insurance provider offers 3 types of EPO plans for families and individuals. They include the classic, simple, and saver plans. Let’s briefly discuss what each of these plans is about.

i. Classic Plan

Oscar Health’s insurance under the classic plan comes at a higher cost but with lower deductibles. It’s also characterized by lower copays for prescription.

ii. Simple Plan

Under the simple plan, affordable copays are available for routine care and 100% care coverage. This is after the maximum is met. Copays cover for brand name drugs.

iii. Saver Plan

The saver plan allows you pay full price. Once deductibles are met; coinsurance costs are equally split with the insurance provider.

This Oscar Health insurance review has covered a number of vital areas about the operations of this health insurance company. As always, it’s best to compare reviews between different service providers to gain a fair idea of who to patronize.