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Oscar CEO Mario Schlosser. Photo: Noam Galai/Getty Images

Oscar, the healthcare insurance upstart co-founded by Joshua Kushner, tells Axios that it is expecting to generate nearly $1 billion in premium revenue for 2018. That's up from "more than $300 million" in 2017 premium revenue. It also says that its insurance underwriting business is profitable for the first time, although the overall company remains in the red.

Why it matters: Oscar continues to grow, despite having originally launched to provide health insurance to individuals under an Affordable Care Act that the Trump Administration has been slowly dismantling.

  • More numbers: The company expects around 250,000 members in the individual markets, including in New York and California where open enrollment continues, representing around a 2.5x increase over last year, and doesn't include Oscar's recent expansion into employer plans.

Oscar CEO Mario Schlosser tells Axios that he isn't too concerned about how the new tax bill repeals the ACA's individual mandate, saying that much of the early instability has dissipated:

"It took a while to figure out how things work, but a lot of people now just have come around to thinking it's smart to have health insurance. The loss of the mandate will have some impact on some states around country, but it won't affect the overall stability of the individual markets."

Oscar's big marketing pitch is that it leverages technology to provide a more efficient healthcare experience, through such techniques as tele-medicine (25% of Oscar members have used it) and concierge teams that include both nurses and "care guides" (70% have used). It has taken steps to apply this tech-centric approach to the Medicare Advantage market, but tells Axios that it has slowed down those efforts a bit (i.e., no 2018 launch).

Go deeper

Updated 14 mins ago - Politics & Policy

No motive yet determined in Indianapolis FedEx shooting

Crime scene investigators walk through the FedEx parking lot in Indianapolis the day after a mass shooting left nine dead, including the gunman, who took his own life. Photo: Jeff Dean/AFP via Getty Images.

Police have not yet uncovered the motive for Thursday's mass shooting at an Indianapolis FedEx facility, where a gunman left at least eight people dead and multiple others wounded.

The latest: Police Chief Randal Taylor said Friday that the warehouse employed a "significant" number of Sikhs, AP reports, and the Sikh Coalition confirmed that members of its community were among those who were injured and killed.

The legacy of Bernie Madoff

Bernie Madoff, architect of the largest Ponzi scheme in American history, died on Wednesday in federal prison, 11 years into his 150-year sentence.

Axios Re:Cap digs into Madoff’s crimes, what they revealed about America's financial system and what changed after the scheme came crashing down with Diana B. Henriques, author of the The Wizard of Lies: Bernie Madoff and the Death of Trust.

Updated 2 hours ago - World

Russia to expel 10 U.S diplomats, ban top Biden officials in response to sanctions

Photo: Alexei Druzhinin\TASS via Getty Images

Russia will expel 10 U.S. diplomats and add eight current and former U.S. officials to its no-entry list in retaliation for sanctions that the Biden administration leveled at Moscow on Friday, Russian foreign minister Sergey Lavrov said Friday.

Why it matters: The measures come after the U.S. said it would expel 10 Russian intelligence officers operating under diplomatic cover, as part of a broad package of sanctions retaliating against the SolarWinds hack of federal agencies and Russia's interference in the 2020 election.