Cigna Links Up With Upstart Oscar For Small Business Health Insurance

Cigna, and small startup insurance company Oscar are teaming to begin offering small business health insurance options that are fully insured. The plans will be branded as Cigna + Oscar, and both companies will share risk equally. The plans are set to begin selling in 2020.

chains connected together by one red link
Cigna and Oscar Health link up to provide better small business health insurance plans.

Oscar’s Start-up

New York based Oscar Health started out small in 2012, and has slowly expanded to different states. They offer individual market plans, and expanded to offering small group and Medicare Advantage plans. Just this past August, the company has expanded to 6 new states in the US, and grew to 400,000 members this year. 

Unfortunately, Oscar does not provide vision or dental insurance. However, the company is hoping that partnering with Cigna will change this.

empty dentist patient room
Small business health insurance does not generally cover dental and vision. Hopeful the merge provides these benefits.

“Small businesses are the backbone of the American economy and through this partnership, we can take a disciplined approach to offering differentiated healthcare solutions that help small businesses save money, expand network and product choice and keep employees healthy,” Julie McCarter, vice president of product solutions at Cigna, said in a statement.

How Small Businesses Can Save

Small businesses do not necessarily have to offer health insurance to their employees. It can become too expensive for the business. However, with this new merge, this will open the door to small businesses being able to afford healthcare coverage for their employees. 

silhouette of a group of people with a huge red heart behind them in the background.
“Together, we are giving small business owners an affordable, simple-to-use option.”

“Together, we are giving small business owners an affordable, simple-to-use option that makes it easier for their employees to get appropriate care quickly and stay healthy,” Oscar Chief Policy and Strategy Officer Joel Klein said in a news release. “Cigna + Oscar will give these business owners and their employees consumer-centric health care coverage and physician networks that provide personalized care.”

The plans will include medical, behavioral health, and pharmacy services. Telemedicine will also be provided at no cost 24/7. This will help employees with the ability to call and speak with a doctor. They will also get their medicine quicker than going into the doctor’s office.

Although Cigna is not one of the largest 3 insurers in the small group market, they do offer group insurance to employers with 50 or more employees. The company is hoping tha partnering up with Oscar will help the company grow more and bring in more revenue. Together, the companies can do more in smaller markets than they would have been able to do alone. Let’s hope the future is bright for small businesses, and more importantly their employees receiving health insurance!

About The Author:
Cassandra Love

With over a decade of helpful content experience Cassandra has dedicated her career to making sure people have access to relevant, easy to understand, and valuable information. After realizing a huge knowledge gap Cassandra spent years researching and working with health insurance companies to create accessible guides and articles to walk anyone through every aspect of the insurance process.

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