Oscar Health (OSCR) 7th Annual Healthcare Symposium summary

Key industry challenges and consumer empowerment

• U.S. healthcare spending continues to rise despite two decades of consumer-focused initiatives, driven by medical technology costs, aging, and chronic diseases.

• Complexity and lack of transparency make healthcare difficult to shop for, with plan designs often shifting costs to individuals without simplifying choices.

• Limited insurance options and information asymmetry hinder true consumerism, especially for employer-sponsored plans.

• Policy interventions like price transparency and surprise billing protections are gradually improving consumer access to information.

Technology, AI, and personalization

• Generative AI and digital tools are being deployed to improve user experience, automate claims, and provide personalized recommendations.

• AI-powered chatbots and apps are helping consumers navigate care options, understand benefits, and make cost-effective decisions.

• Personalization is seen as key, with data-driven matching of consumers to providers and tailored plan designs.

• Companies are piloting AI-first providers and digital therapeutics to further enhance engagement and outcomes.

Incentives, plan design, and financial alignment

• Expanding access to health savings accounts (HSAs) and similar financial tools is viewed as critical for aligning consumer incentives.

• Innovative benefit designs, such as tiered cost-sharing and ICHRA (Individual Contribution Health Reimbursement Arrangements), aim to give consumers more choice and control.

• Employers are experimenting with incentives for preventive care and wellness, but broader alignment is needed, especially for Medicare populations.