Scoop: Oscar Health preps 2021 IPO

Oscar, the health insurance company co-founded in 2012 by Joshua Kushner and Mario Schlosser, has hired banks to help the firm go public in 2021, Axios has learned from multiple sources.

Background: Oscar was launched to provide health insurance to individuals under the Affordable Care Act, but has since diversified into other health insurance markets.

• The New York-based company has raised around $1.5 billion in venture capital, including from Kushner's Thrive Capital, Alphabet and Founders Fund.
• An Oscar spokesperson declined to comment.

The big picture: The startup IPO market is on fire, so it's not surprising to see Oscar move toward a public listing. That said, its fortunes could be tied a bit to the presidential election, since the winning candidate may work to enact major health insurance industry changes.