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Young Entrepreneurs May Transform Health Insurance

Friday, July 26, 2013   (0 Comments)
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 Can Young Entrepreneurs Compete With Established Health Insurers?  

Obamacare calls for an insurance market for people who are not insured through employers or public programs, and for some young entrepreneurs that's an enticing business opportunity. Joshua Kushner, a 28-year-old Harvard graduate who is the founder of Thrive Capital, and two colleagues, plan to create an insurance company called Oscar that will provide clearly described coverage, and access to doctors and medical advice and moderate and understandable cost. Subscribers who sign in to their online Oscar account will be able to type in their symptoms and get a range of options, including choices to speak to a doctor or access a list of nearby providers. Can entrepreneurs compete with established corporations in the healthcare industry? Data released by the Department of Health and Human Services shows that a quarter of the companies applying to offer coverage in the federally run marketplaces are entering the individual insurance market for the first time. Read Ezra Klein's Washington Post Wonkblog story.

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