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Cleveland Clinic

The Cleveland Clinic and Oscar Health Insurance have formed a new co-branded health plan that will sell coverage next year on and off the Affordable Care Act exchange in five counties in Ohio — where Anthem recently said it was leaving.

The details: Oscar, a startup that has lost a lot of money, and the academic medical center will split all profits and losses. People who buy the plan are buying a narrow network. They will have access to the Cleveland Clinic facilities and doctors and can use Oscar's technology to coordinate care. But if they venture outside the Cleveland Clinic system for nonemergency care, they will be on the hook for the costs.

Some business perspective: Cleveland Clinic has considered starting its own insurance company for years, but like other hospital systems that want to minimize the risk of offering health insurance, it chose a partnership instead.

One fun thing: One of Oscar's three co-founders is Josh Kushner — Jared's brother.

Go deeper

Caitlin Owens, author of Vitals
4 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.

The post-Trump GOP, gutted

McConnell (L), McCarthy (R) and Trump. Photo: Erin Schaff-Pool/Getty Images

Republicans will emerge from the Trump era gutted financially, institutionally and structurally.

The big picture: The losses are stark and substantial.

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