Oscar Health Insurance

Oscar Health Insurance lost $25.8 million in the first quarter of this year, based on its financial documents filed in California, New York and Texas on Tuesday. That was an improvement over the $48.5 million loss from the same period last year.

Our thought bubble: Oscar was able to slow the financial bleeding after exiting several Affordable Care Act individual markets last year and decreasing its membership to 90,000. But Oscar is still hemorrhaging a lot of money — more than most people expected from a startup that attracts a younger and potentially healthier member base, and a company that has promised to change how health insurance works through its technology.

More numbers to chew on: Oscar, an investor-backed startup that uses a narrow network of doctors, now has lost more than $350 million since 2015. The insurer also continues to struggle with high administrative costs, ranging from 25% to 56% of revenue.

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Biden: The next president should decide on Ginsburg’s replacement

Joe Biden. Photo: Drew Angerer / Getty Images

Joe Biden is calling for the winner of November's presidential election to select Ruth Bader Ginsburg's replacement on the Supreme Court.

What he's saying: "[L]et me be clear: The voters should pick the president and the president should pick the justice for the Senate to consider," Biden said. "This was the position the Republican Senate took in 2016 when there were almost 10 months to go before the election. That's the position the United States Senate must take today, and the election's only 46 days off.

Trump, McConnell to move fast to replace Ginsburg

Photo: Alex Wong/Getty Images

President Trump will move within days to nominate his third Supreme Court justice in just three-plus short years — and shape the court for literally decades to come, top Republican sources tell Axios.

Driving the news: Senate Majority Leader Mitch McConnell and Senate Republicans are ready to move to confirm Trump's nominee before Election Day, just 46 days away, setting up one of the most consequential periods of our lifetimes, the sources say.

Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

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  2. U.S.: Total confirmed cases as of 10 p.m. ET: 6,722,699 — Total deaths: 198,484 — Total recoveries: 2,556,465 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
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  6. Education: At least 42% of school employees are vulnerable.