Oscar Insurance Reviews 2022

Growing up in an insurance company hasn’t prevented this company from making a name for itself. As a health insurance company, they have made great gains over the past nine years. A review of Oscar’s health insurance company will reveal if they are a perfect health insurance coverage for you and really keeping their promises.

Despite being young and new to the market, it is clear that the health insurance company is striving to make a name for itself.

They promise great user-friendliness for their app and website as well as transparency and convenience with their unique features.

As part of the agreement, they will also meet your needs and assure you receive better benefits.

This Oscar health insurance reviews will reveal how it works, as well as the answer to your questions.

What Is Oscar Health Insurance?

Oscar Health Insurance is a technology-driven health insurance company with headquarters in New York City. By offering free doctor visits, preventive care, and generic prescriptions, Oscar distinguishes itself from its competitors. The company offers its customers free access to doctors whenever they want.

Its goal is to “humanize healthcare” and improve the customer experience. In terms of membership, Oscar Insurance Company is now the third-largest for-profit national insurer and family policy in the U.S.

The majority of Oscar’s plans are exclusive provider organizations (EPOs), meaning they only cover out-of-network care in emergency situations.

Oscar Insurance Reviews: More About Oscar Health Insurance

In the wake of the Affordable Care Act or Obamacare, Oscar Health Insurance was founded in 2012 by Mario Schlosser, Josh Kushner, and Kevin Nazemi. The ACA-compliant company prides itself on its technology, design, and data.

According to the founders, Oscar was founded to offer personal, high-quality, affordable health insurance as they would like for themselves.

The company’s CEO, Schlosser, holds a degree in computer science and an MBA, and previously co-founded the largest social gaming company in Latin America. As an innovative health insurance company, Fast Company has recognized Oscar Health Insurance.

In order to save customers money, Oscar analyzes the data collected from patient visits. Based on analytics, the company says it can direct patients to in-network doctors who are most appropriate for their specific needs. 

Over 529,000 members belong to the company, which operates in 291 counties across 18 states, including:

  • Arizona 
  • California
  • Colorado
  • Florida
  • Georgia
  • Iowa
  • Kansas
  • Michigan
  • Missouri
  • New Jersey
  • New York
  • North Carolina
  • Ohio
  • Oklahoma
  • Pennsylvania
  • Tennessee
  • Texas
  • Virginia

Oscar Insurance Reviews: How Does Oscar Insurance Work? 

It’s easy to figure out how to use Oscar’s health insurance. It is very simple to register on the website which is a step that you shouldn’t have trouble doing. To begin with, make sure you understand what Oscar offers in terms of insurance plans. 

It’s important that you choose the plan that’s right for you. The guide above will help you understand what options are available to you. For more information, you can visit Oscar’s official website or contact a representative. 

So, you can find a plan that suits both your budget and your medical needs. You will receive membership information and the concierge team after you have enrolled in your health insurance plan. 

If you are insured, your coverage won’t begin until January of the following year, after which you will need to meet all the insurance requirements. Your insurance coverage will only kick in when you meet a certain deductible, which may vary depending on the plan you choose.

SEE ALSO: What Is PIP Insurance? Overview, And How It Works

Types of Oscar Health Insurance Plan

Backup Plan

People who are generally healthy and want to be sure they are covered should they suffer a major injury or illness are good candidates for the Backup Plan. Each metal level of the plan has its own deductible and out-of-pocket maximum, so the patient can select the plan that best fits their needs. 

Patients must pay the full price for hospital services, specialists’ visits, urgent care, lab work, and all medications before they meet the deductible. 

All Bronze and Silver level services are free after meeting the deductible. A 20% fee is imposed for Gold-level services.

BACKUP PLANBronze SilverGold
Individual deductible$6,500$4,500$1,500
Individual Out-of-Pocket Maximum$6,500$4,500$4,500

Simple Plan

Oscar’s signature plan is the Simple Plan. Four levels of coverage are available, including the Secure level, designed for those who need routine care only. 

Patients must pay the full amount of services before the deductible can be met with the Secure and Bronze levels. Depending on the service, most Silver and Gold level services have copays between $10 and $50. 

The insurance company covers 100% of all services under every Simple Plan level once the deductible is met. In addition, the Simple Plan does not include cost-sharing since its deductibles match their OOP maximums.

BACKUP PLANSecureBronzeSilverGold
Individual deductible$7,350$7,350$7,350$4,000
Individual Out-of-Pocket Maximum$7,350$7,350$7,350$4,000

Classic Plan

People with chronic illnesses needing ongoing care may find the Classic Plan to be ideal since it is structured according to traditional health insurance plans. The Platinum program provides no deductibles and copays for every service, whereas the other levels carry deductibles and copays. 

Those who choose the Bronze level, however, must pay the deductible in full before any services will be rendered. Following the deductible, most services and prescription drugs are 50% of the total cost for patients. 

There is no difference between Silver and Gold levels except that the deductible must be met before the services are met. Patients have to pay copayments for different services as soon as their deductible is met, with the lowest post-deductible copays occurring at the Gold level.

BACKUP PLANBronze SilverGoldPlatinum
Individual deductible$4,000$2,000$600$0
Individual Out-of-Pocket Maximum$7,150$6,750$4000$2000

How Much Does Oscar Health Insurance Cost? 

Let’s begin with one of the most pressing questions. How much does Oscar cost? We can find out this by briefly examining Oscar’s pricing structure. If you’re curious about Oscar’s price, you might be surprised to discover that it does offer some benefits- but whether these outweigh their costs is up to you.

The first thing Oscar brings to the table when it comes to price is its commitment to simplifying insurance. Rather than setting individual prices after you have met your deductible, they set one fixed price.

In any case, as soon as your deductible has been met, you will not be charged anything extra out of pocket. People who want to save money may find this attractive as this flat rate covers even more expensive procedures.

While this approach has some advantages, there are a few downsides as well. To begin with, before you’ve reached your deductible, you’ll have to compare deductibles and copays for different conditions. 

By doing this, the company hasn’t really streamlined everything, since you’ll still need to remember different prices to reach your deductible. Your medical needs and the deductible will determine how long this process will take. 

There’s more to it than that. Oscar offers a variety of plans that will help you get a better sense of just how much it costs. Oscar offers only four plans (which is both good and bad), so keeping track of their different costs won’t be too challenging. 

There are four types of plans: classic, simple, saver, and backup. To have a better understanding of the pricing, you should also look at the plan tiers. There are five tiers of enrollment: Secure, Bronze, Silver, Gold, and Platinum.

Related Post: What Is Health Savings Account (HSA) Insurance?

Pros and Cons of Oscar Health Insurance

With this in mind, let’s take a closer look at the benefits as well as downsides of using Oscar health insurance. 

Also, when determining the pros and cons, it’s important to take a holistic approach. This includes looking at every aspect of Oscar to make sure that you’re seeing it from every possible angle.

This Oscar’s review of the pros and cons would reveal if Oscar is right for you

More than one plan option is availableAvailability is limited
There are some unique features for membersLimited coverage
Superior customer service
A number of member resources are available

Does Oscar Cover Vision And Dental?

Currently, neither Oscar nor Oscar for Business plans covers adult dental or vision. Those looking for comprehensive medical insurance plans may find this to be an obvious drawback. 

There is one exception to this rule, as some Oscar plans will cover vision and dental for up to age 18 children. Oscar’s competitors, however, offer a similar range of options for individuals of all ages, which does not provide much comfort.

As a result, it’s important that you review your coverage carefully before you sign up for Oscar.

How Do You Enroll in Coverage with Oscar Health Insurance?

Customers can enroll in coverage online on the company’s website or call 1-855-672-2788. Also, coverage can be purchased through a licensed insurance agent or on the health insurance marketplace during open enrollment.

Oscar Health Insurance Reviews

According to The Better Business Bureau (BBB), Oscar has 1.5 stars, but an A- rating. Since the last three years, 17 complaints have been made against them, but two have not been resolved. 

In 2014, one complaint about pricey bills that should have been covered received press attention. Therefore, their CEO admitted they did not explain how deductibles work in a way that was understandable to members. On Yelp, Oscar has 79 reviews and a two-star rating.

Oscar Insurance Reviews: Conclusion

An international company, Oscar health insurance, strives to establish itself on the market as a reputable provider. The number of members has grown to about 420,000, and they are still working to improve.

Even though Oscar has had some bad reviews, their services do provide some uniqueness which makes them worth checking out. However, if you’re in the market for a comprehensive health insurance plan with full coverage, this health insurance company may not be the best choice.



Leave a Reply
You May Also Like