Tiffany Anand

Tiffany Anand asked for Oscar Health's Open Enrollment Period (OEP) membership figures and how paid rates in January 2026 compare to January 2025. She also sought more detail on the expected membership cadence and churn patterns following the Q1 grace period throughout the year.

Answer

Mark Bertolini, Oscar Health Chief Executive Officer, reported that OEP concluded with 3.4 million enrolled lives, with current paid rates tracking close to last year and slightly lower than 2023/2024. R. Scott Blackley, Oscar Health Chief Financial Officer, added that Oscar expects to have 3 million paid members by the end of Q1. He projected higher churn through Q1, with patterns reverting to pre-ARPA levels (1-2% per month) thereafter, and anticipated less Special Enrollment Period (SEP) membership, leading to an overall membership decrease throughout the year.

Tiffany Anand asked about Oscar Health's Open Enrollment Period (OEP) membership figures and the tracking of paid rates in January 2026 compared to January 2025. She also inquired about the expected membership cadence following the Q1 grace period and throughout the year.

Answer

Mark Bertolini, Oscar Health Chief Executive Officer, reported 3.4 million lives enrolled at the end of OEP, with current paid rates close to last year's but slightly lower than 2023 and 2024. R. Scott Blackley, Oscar Health Chief Financial Officer, clarified an expectation of 3 million paid members by the end of Q1, with churn patterns reverting to pre-ARPA levels (1-2% monthly) from Q2 onwards, and less SEP membership expected.