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.