A Brutally Honest Review of Oscar Health Insurance

This is a brutally honest review of Oscar Health Insurance. In this review, we will discuss the following areas: 

  • Oscar health insurance overview
  • How Oscar health insurance is different
  • Who Oscar health insurance is best for
  • Oscar health insurance plans 
  • Frequently asked questions 

So if you are looking forward to buying a health insurance plan and have listed Oscar health insurance as one of your top priorities, this Oscar health insurance review is for you. 

So without further ado, let’s cut to the chase. 

Oscar Health Insurance Overview 

Oscar Health Insurance is an agency that offers health coverage policies for individuals, as well as businesses. When compared to its competitors, Oscar’s plans tend to be costly and restricted to a specific number of states. 

Even so, Oscar still shines for its excellent customer service and membership benefits, noticeable at some of the top-notch health insurance companies. So to cut it to the chase, Oscar is a good bet, especially when you intend to have personalized healthcare insurance.  

How Is Oscar Health Insurance Different? 

For years now, Oscar aims to find affordable health insurance for its customers. It also attracts the most audience engagement by providing incentives to active users, free generic drugs, accessible primary care visits, and other benefits. 

Meanwhile, you will enjoy lower deductibles when you opt for the premium plans. However, there are no restrictions on the premium plan, so you can opt for any package, depending on your budget and healthcare situation. Finally, you can utilize the HSA-compatible packages in Texas, Ohio, and California. 

Who’s Oscar Health Insurance Best For? [Plus Pros and Cons] 

Oscar Health Insurance takes pride for its EPO plans, Health Savings Account plans, and Medicare benefits plans for the following users: 

  • Individuals and family members
  • Group members 
  • The disabled, according to the Social Security Administration 
  • State facilities and specialists 
  • Free vaccines and preventive care
  • Mobile prescriptions requests. 

Oscar Health provides the best coverage services to individuals looking for health care plans, but not for those seeking Medicaid. You can find Oscar’s plans in California, Michigan, Arizona, New York, New Jersey, Florida, Ohio, among other states. 

Pros 

  • Oscar Health offers financial rewards for walking goals
  • All of its plans are straight to the point
  • Reliable customer service with 24/7 online calls
  • Oscar’s Health programs are personalized for each individuals’ needs. 

Cons 

  • Sadly, this insurance company is limited to nine states only
  • It offers higher deductibles than to its competitors
  • Its services include no dental or vision coverage
  • This insurance company consists of no medical plans

Oscar Health Insurance Plans

There are up to three levels of Oscar Insurance Plans – Simple, Saver, and Classic. However, there is also a business plan that we will discuss in this review. 

The difference between the health insurance policies at Oscar Health Insurance is deductibles, out-of-pocket, and expenses. Apart from the above, there are also differences in the health policy plans regarding the specific services offered and the coinsurance. 

While the above plans differ, they are affordable and will cover all your essential health needs. Under the Affordable Care Act (ACA), pregnancy services, preventive care, birth control, among other services, are included. 

Oscar Insurance Company also covers lab testing, but a due process should be followed – processing by either an in-network lab or Quest Diagnostics. Therefore, be sure to ask your doctor for lab work if you opt for Oscar health insurance policies. 

Finally, you can cancel your health insurance plan with Oscar Health Insurance at any time through the company or a health insurance platform. That said, below are the health insurance policy plans at Oscar Health Insurance Company. 

1. The Simple Health Policy 

The simple health insurance policy at Oscar health insurance is the most affordable plan you can find. This plan’s advantage is that it will cover all the healthcare expenses after you reach out-of-pockets maximums. 

Simple packages are in four different tiers – Secure, Bronze, Silver, Gold. In these four tiers, the deductibles and the out-of-pocket are constant. In other words, when you pay for your health insurance packages, you will hit the out-of-pocket and deductibles concurrently. 

  • Secure$7,900 [deductible], $7,900 [out-of pocket maximums], $162.09 [Monthly cost for a 30-year-old]
  • Bronze$7,900 [deductible], $7,900 [out-of pocket maximums], $459.55 [Monthly cost for a 30-year-old]
  • Silver$7,350 [deductible], $7,350  [out-of pocket maximums], $647.57 [Monthly cost for a 30-year-old]
  • Gold$5,000 [deductible], $5,000  [out-of pocket maximums], 797.20 [Monthly cost for a 30-year-old]. 

The simple health plan is suitable for those in good health and won’t need consistent medical care. This is because the simple health insurance plan at Oscar health insurance offers better cost-sharing with affordable premiums. 

2. Saver Health Policies

This health insurance plan has different out-of-pocket and deductible maximums compared to the simple health insurance plan at Oscar health insurance. That means that you are free to break any of your medical expenses with Oscar when you reach the deductibles and the saver health insurance plan. That said, let’s look at the tiers available at Oscar health insurance below: 

  • Bronze$6,650 [deductible], $6,650 [out-of pocket maximums], $451.70[Monthly cost for a 30-year-old]
  • Silver $2,500 [deductible], $5,500 [out-of pocket maximums], $590.44 [Monthly cost for a 30-year-old]
  • Gold $1,500 [deductible], $4,500  [out-of pocket maximums], $744.49 [Monthly cost for a 30-year-old] 

From the above summary, you can see that the Gold tier will require you to pay lower out-of-pocket and deductible maximums but huge premiums. Additionally, you will qualify for 30 and 20% coinsurance, Silver, and Gold, respectively, when you reach the deductibles. This plan is suitable for those who need regular medical cover but have a limited budget to pay for Oscar’s classic health insurance plan. 

3. Classic Health Policies

The most expensive health insurance plan by Oscar is the classic health insurance plan. The difference between simple, saver and classic health insurance plans is that the classic health insurance plans have lower deductibles. This means that you will qualify for coinsurance and copays early enough. Below are the four tiers you will find in the classic health insurance plan at Oscar health insurance: 

  • Bronze$4,000 [deductible], $7,600 [out-of pocket maximums], $478.58 [Monthly cost for a 30-year-old]
  • Silver $1,700 [deductible], $7,500 [out-of pocket maximums], $650.31[Monthly cost for a 30-year-old]
  • Gold $600 [deductible], $4,000  [out-of pocket maximums], $816.91 [Monthly cost for a 30-year-old] 
  • Platinum $0 [deductible], $2,000 [out-of pocket maximums], $1,019.31 [Monthly cost for a 30-year-old]

From the above summary, you can see that Oscar’s out-of-pocket expenses are lower, but higher premiums than the other health insurance categories. You should also note that platinum, gold, and silver include before-deductible copays for specific services, such as drugs. 

For instance, the classic silver category includes a $10 (before you meet the deductible) for common drugs. Therefore, the classic category will be a perfect match if you need monthly drug prescriptions. 

4. Business Health Insurance

The business health insurance at Oscar is new, and not many have known about it. It’s a health insurance plan specifically engineered to accommodate companies with employees. This plan’s advantage is that companies can customize it, depending on the number of employees they have. However, this new plan is only available in the following states: 

  • New York
  • New Jersey
  • Nashville
  • Los Angeles
  • Orange County.

Finally, you can manage all your Oscar health insurance benefits as an employer through their online platform. On this platform, you can make payments, add or exclude your employees, and many more. This is why more and more employers now want the business health insurance plan at Oscar. 

Frequently Asked Questions 

1. What average cost will I pay for Oscar Health Insurance? 

$516 is the average cost you will pay at Oscar health insurance. This is one of the best deals as compared with other health insurance companies. Even more, Oscar offers a telemedicine program, which makes it easier for customers to get personalized medical services. 

2. How can I trim down my health insurance costs? 

To save money on health insurance policies, you need to find the most affordable health insurance plans. Research and ask friends and relatives for recommendations. You can also read reviews like this one to find the most affordable and best health insurance plans. 

3. How can I find the best health insurance company? 

While there are tons of health insurance agencies available, choosing the right company can be a daunting prospect, especially when you’re green with the insurance policies. More often, inexpensive health insurance plans will mean no additional benefits like telemedicine. Therefore, it would be best if you leverage your needs before settling for a health insurance company. 

Final Verdict 

Like mentioned before, Oscar Insurance provides coverage to individuals and businesses. You can get their plans via its website and state marketplaces. Because it’s an Exclusive Provider Organization (EPO) network, it can provide coverage to any insurance provider that’s within the network at no cost. 

Meanwhile, you’ll have to incur extra charges or even pay the full amount for the services if you go beyond the network. Also, the best time to purchase health coverage through Oscar is during the Obamacare enrollment period. However, you can still buy health insurance on any other period as long as you have a qualifying life event. Credit or debit cards can also come in handy when other insurance providers intend to purchase health coverage via Oscar Health. 

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