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Illustration: Annelise Capossela/Axios

Oscar Health, the health insurance company co-founded by Jared Kushner's brother, Joshua, has filed for an IPO and announced that Barack Obama's former campaign manager, David Plouffe, will join its board of directors.

Why it matters: Oscar Health is one of the highest-profile attempts at disrupting the health insurance sector.

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

By the numbers:

  • Revenue: The company brought in $1.67 billion in 2020, up from $1.04 billion in 2019. However it's net losses widened to $406.83 million in 2020, up from $261.18 million in 2019.
  • Members: Oscar has a total of 402,044 insurance customers as of the end of 2020, with just under 2,000 being covered under Oscar's Medicare Advantage plan, while the rest are individuals or small groups. In 2019, it had a total of 229,818 members.

Oscar Health's top shareholders include Alphabet (Google's parent company), Fidelity, Formation8, Founders Fund, General Catalyst, Khosla Ventures, and Thrive Capital (Joshua Kushner's VC firm).

Editor's note: The story has been updated with additional details from the filing.

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Several states report zero COVID deaths for the first time in months — CDC says schools should still universally require masks and physical distancing.
  2. Politics: New York to lift mask mandate for vaccinated people — CDC director says politics didn't play a role in abrupt mask policy shift.
  3. Vaccines: Sanofi, GSK COVID vaccine shows strong immune response in phase 2 trials — Vaccine-hesitant Americans cite inaccurate side effects — 600,000 kids between 12 and 15 have received Pfizer dose since FDA authorization.
  4. Business: How retailers are responding to the latest CDC guidance — Delta to require all new employees be vaccinated — Target, CVS and other stores ease mask requirements after CDC guidance.
  5. World: World's largest vaccine maker expects to resume exports by end of 2021 — Biden administration to send 20 million U.S.-authorized vaccine doses abroad.
  6. Variant tracker: Where different strains are spreading.
3 hours ago - World

Scoop: Biden to waive sanctions on company in charge of Nord Stream 2

Angela Merkel (left) with Vladimir Putin. Photo: Adam Berry/Getty Images

The Biden administration will waive sanctions on the corporate entity and CEO overseeing the construction of Russia’s Nord Stream 2 pipeline into Germany, according to two sources briefed on the decision.

Why it matters: The decision indicates the Biden administration is not willing to compromise its relationship with Germany over this pipeline, and underscores the difficulties President Biden faces in matching actions to rhetoric on a tougher approach to Russia.

Prosecutor: Fatal police shooting of Andrew Brown Jr. was "justified"

Khalil Ferebee (C), the son of Andrew Brown Jr., and attorneys Bakari Sellers (L) and Harry Daniel (R) at a May 11 news conference in Elizabeth City, North Carolina. Photo: Sean Rayford/Getty Images

A North Carolina prosecutor said Tuesday that the death of Andrew Brown Jr., a Black man fatally shot by sheriff's deputies last month, was "tragic" but "justified," due to the immediate threat officers believed Brown posed.

Why it matters: The FBI has opened a civil rights investigation into Brown's death. Police in Elizabeth City shot him five times, including in the back of his head, according to an independent autopsy report released by family attorneys last month.

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