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Get filing alertsOscar Health posts 56% membership growth and 490bp MLR gain amid new tariff, subsidy risks
Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~1 min read
Key Changes
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100% tariff on patented pharmaceuticals takes effect July 31, 2026. Company warns rebate compression could outpace drug cost savings, pressuring margins and MLR despite potential list price reductions.
MD&A: Tariff Risk verify on EDGAR → -
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Enhanced subsidies expired end-2025; One Big Beautiful Bill Act (signed July 2025) tightened APTC eligibility. Company reports observed membership decline post-open enrollment due to affordability pressure.
MD&A: Regulatory Environment verify on EDGAR → -
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MLR improved 490bp to 70.5% (Q1 2026 vs Q1 2025) on disciplined pricing and favorable reserve development. Earnings from operations surged 137% to $704M; net income up 147% to $679M.
MD&A: Financial Performance verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 1, 2026 · How we verify