Aetna ACA exit is bad for marketplace, good for Oscar: CEO Bertolini
Oscar Health (OSCR) CEO Mark Bertolini has helped lead the insurance tech company into a period of consistent profitability after years of losses.
The veteran health insurance executive has become an industry advocate for change, calling the existing employer-sponsored insurance market broken. He told Yahoo Finance in an interview Thursday that healthcare is the only place in the economy where individuals lack choice over decisions.
"I know what my concerns are for my health, I know what I need, why am I having to go through the insurance company to get it approved?" Bertolini said.
It's why Oscar has worked on accessing health services through its technology-enabled platforms. The company boasts a long-time relationship with OpenAI (OPAI.PVT), which has helped it create plans and products that are "frictionless," Bertolini said.
"Those frictionless care models allow me to get what I need, on my terms, at my cost," he said. "Everywhere else in our economy, we can get that."
But not in healthcare, where insurance plans are designed by employers for maximum options to cater to the diverse needs of the employee population — which raises the overall cost of insurance.
Bertolini, formerly the CEO of Aetna (CVS), said this is why the narrow networks and lower cost options in the Affordable Care Act marketplace are better for individuals. And why Aetna's exit isn't good for the market.
"The more players in the market, the better, in large part because everyone has narrow networks ... [which] allow you to get a lower price point, because you're moving revenue to fewer players," Bertolini said.
That also helps keep insurers profitable, as it balances the number of high-cost and low-cost patients in the mix at any given time.
"Our view is we don't need to get all the members," Bertolini said. "We want the members that need our products and our networks. We want to serve them well at a price point that, for the last three years, has been at or below the cost of inflation."
Still, Aetna's exit bodes well for Oscar, which had "significant overlap" with them, Bertolini said on an earnings call Wednesday.
"We view that as an opportunity to help people maintain their coverage at a level of pricing that we find disciplined and competitive in the marketplace," he said.
Anjalee Khemlani is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, care services, digital health, PBMs, and health policy and politics. That includes GLP-1s, of course. Follow Anjalee as AnjKhem on social media platforms X, LinkedIn, and Bluesky @AnjKhem.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
Trump tariffs live updates: US, China agree on plan to ease trade tensions as US appeals court allows tariffs to remain in effect
The US and China agreed to a framework and implementation plan to ease trade tensions on Tuesday. 'We have reached a framework to implement the Geneva consensus,' US Commerce Secretary Howard Lutnick said. The commerce secretary indicated the deal should resolve issues between the two countries on rare earths and magnets. Representatives will now take the proposal to their respective leaders for approval. The progress comes after two days of trade talks between the US and China in London. The high-stakes negotiations follow Trump's call with Xi Jinping last week, which both leaders framed as positive. Tensions between the two countries had been rising since they reached a temporary truce in mid-May in Geneva. Both countries accused the other of breaching the agreement while ratcheting up pressure on other issues. Meanwhile, though Trump's most sweeping tariffs continue to face legal uncertainty, on Tuesday, the president received a favorable update. A federal appeals court held a decision saying his tariffs can temporarily stay in effect. The US Court of International Trade had blocked their implementation last month, deeming the method used to enact them "unlawful." Read more: What Trump's tariffs mean for the economy and your wallet The latest twists and turns in Trump's trade policy come as the president pushes countries to speed up negotiations. The US sent a letter to partners as a "friendly reminder" that Trump's self-imposed 90-day pause on sweeping "reciprocal" tariffs is set to expire in early July. White House advisers have for weeks promised trade deals in the "not-too-distant future," with the only announced agreement so far coming with the United Kingdom. US and Indian officials held trade talks this week and agreed to extend those discussions on Monday and Tuesday ahead of the July 9 deadline. New tariffs are coming into play: Effective Wednesday, June 4, Trump doubled tariffs on steel and aluminum from 25% to 50%. Here are the latest updates as the policy reverberates around the world. Bloomberg reports: Read more here. Yahoo Finance's Rick Newman reports: Read more here. US-China talks stretched on Tuesday, and they may continue into Wednesday, US Commerce Secretary Howard Lutnick told reporters outside of Lancaster House in London, where delegations from both countries are meeting. "I think the talks are going really, really well," Lutnick said. "We're very much spending time and effort and energy — everybody's got their head down working closely." "I hope they end this evening," he added, "but if they need be, we'll be here tomorrow." The teams from China and the US, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, have been holding negotiations since Monday. The London summit followed a phone call between President Trump and Chinese President Xi Jinping. Stocks rose to near session highs following Lutnick's comments on an otherwise fairly muted day in markets. Read more here. From Reuters: Read more here. Banking fees and trading revenue for one of the world's largest investment banks is expected to climb this quarter despite the concerns that surround US tariffs, Citigroup's (C) head of banking Vis Raghavan said on Tuesday. Raghaven added, that M&A activity continues to be active but the IPO market has been "stagnant." Reuters reports: Read more here. The World Bank cut its global growth forecast for 2025 on Tuesday by 0.4 percentage point to 2.3%. The international financial institution, which provides loans to governments said that high tariffs and uncertainty were a "significant headwind" for nearly all economies. Reuters reports: Read more here. Yahoo Finance's Alexis Keenan reports: Read more here. On Tuesday, US Commerce Secretary Howard Lutnick said trade negotiations with China were going well, as the two sides met in London for a second day of talks. Reuters reports: Read more here. The CEO of Freeport-McMoRan Inc. (FCX), North America's top producer of copper has warned that tariffs could hurt an industry that President Trump is trying to help. Bloomberg News reports: Read more here. Reuters reports: Maruti Suzuki has cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds because of rare earths shortages, a document showed, in the latest sign of disruption to the auto industry from China's export curbs. India's top carmaker, which said on Monday it had not seen any impact yet from the supply crisis, now plans to make about 8,200 e-Vitaras between April and September, versus an original goal of 26,500, according to a company document seen by Reuters. It cited "supply constraints" in rare earth materials that are vital in making magnets and other components across a range of hi-tech industries. Read more here. Both the US and China are finding new tools to use as bargaining chips within trade negotiations. Here's an example of just some of them: Bloomberg News reports: Read more here. The de-escalation in trade tensions likely contributed to an improvement in US small-business confidence in May. However, uncertainty remained due to the overall economic outlook. Reuters reports: Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. As US-China trade negotiations resume in London on Tuesday, both sides are eager to rebuild the truce established in May. While, the US has tightened controls on AI chip exports, China may be holding the most valuable card in these talks. CNN reports: Read more here. Advertising firm, WPP said on Tuesday that global advertising revenue is expected to grow 6% this year, lowering its earlier target of 7.7% due to the uncertainty surrounding US trade policies. Reuters reports: Read more here. Bloomberg reported that trade talks between the US and China will resume tomorrow morning at 10 a.m. in London after six hours of negotiations on Monday. US officials were looking for a "handshake" on Monday, National Economic Council director Kevin Hassett told CNBC, as the two sides look to ease tensions over tech and rare earths. President Trump weighed in on the progress, telling reporters on Monday: "We are doing well with China. China's not easy. ... I'm only getting good reports.' Treasury Secretary Scott Bessent, meanwhile, said it was "good meeting" and Commerce Secretary Howard Lutnick called the talks "fruitful," sending an upbeat signal on the talks' progress. The Chinese delegation, led by Vice Premier He Lifeng, did not comment on the talks. From Bloomberg: Read more here. The number of ocean containers from China bound for the US fell precipitously in May when President Trump's 145% tariffs on Chinese goods were in effect. Supply chain technology company Descartes said Monday that seaborne imports from China to the US dropped 28.5% year over year, the sharpest decline since the pandemic, per Reuters. Overall, US seaborne imports fell 7.2% annually in May to 2.18 million 20-foot equivalent units. The decline snaps a streak of increases fueled by companies frontloading goods to avoid higher duties, which has kept US seaports, such as the Port of Long Beach, busy. "The effects of U.S. policy shifts with China are now clearly visible in monthly trade flows," Descartes said in a statement. Read more here. In today's Chart of the Day, Yahoo Finance's Josh Schafer writes that tariff headlines have been rattling markets to a lesser degree than they did in April, despite an escalation of trade tensions recently: Sign up for the Morning Brief newsletter to get the Chart of the Day in your inbox. US import costs of steel and aluminum are expected to rise by more than $100 billion after President Trump doubled tariffs on the metals to 50% this week. That is expected to impact automakers such as Ford (F), as well as importers for a variety of goods, from baseball bats to aircraft parts. The Financial Times reports: Read more here. Tariffs have brought challenges for many, but Century Aluminum (CENX) and top recycler Matalco stand to benefit from President Trump's metal import duties as domestic prices rise. Reuters reports: Read more here. Bloomberg reports: Read more here. Yahoo Finance's Rick Newman reports: Read more here. US-China talks stretched on Tuesday, and they may continue into Wednesday, US Commerce Secretary Howard Lutnick told reporters outside of Lancaster House in London, where delegations from both countries are meeting. "I think the talks are going really, really well," Lutnick said. "We're very much spending time and effort and energy — everybody's got their head down working closely." "I hope they end this evening," he added, "but if they need be, we'll be here tomorrow." The teams from China and the US, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, have been holding negotiations since Monday. The London summit followed a phone call between President Trump and Chinese President Xi Jinping. Stocks rose to near session highs following Lutnick's comments on an otherwise fairly muted day in markets. Read more here. From Reuters: Read more here. Banking fees and trading revenue for one of the world's largest investment banks is expected to climb this quarter despite the concerns that surround US tariffs, Citigroup's (C) head of banking Vis Raghavan said on Tuesday. Raghaven added, that M&A activity continues to be active but the IPO market has been "stagnant." Reuters reports: Read more here. The World Bank cut its global growth forecast for 2025 on Tuesday by 0.4 percentage point to 2.3%. The international financial institution, which provides loans to governments said that high tariffs and uncertainty were a "significant headwind" for nearly all economies. Reuters reports: Read more here. Yahoo Finance's Alexis Keenan reports: Read more here. On Tuesday, US Commerce Secretary Howard Lutnick said trade negotiations with China were going well, as the two sides met in London for a second day of talks. Reuters reports: Read more here. The CEO of Freeport-McMoRan Inc. (FCX), North America's top producer of copper has warned that tariffs could hurt an industry that President Trump is trying to help. Bloomberg News reports: Read more here. Reuters reports: Maruti Suzuki has cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds because of rare earths shortages, a document showed, in the latest sign of disruption to the auto industry from China's export curbs. India's top carmaker, which said on Monday it had not seen any impact yet from the supply crisis, now plans to make about 8,200 e-Vitaras between April and September, versus an original goal of 26,500, according to a company document seen by Reuters. It cited "supply constraints" in rare earth materials that are vital in making magnets and other components across a range of hi-tech industries. Read more here. Both the US and China are finding new tools to use as bargaining chips within trade negotiations. Here's an example of just some of them: Bloomberg News reports: Read more here. The de-escalation in trade tensions likely contributed to an improvement in US small-business confidence in May. However, uncertainty remained due to the overall economic outlook. Reuters reports: Read more here. Chinese stocks fell on Tuesday ahead of the second day of trade negotiations between the US and China. Investors are cautious as the two biggest economies seek to resolve some contentious issues. Bloomberg News reports: Read more here. As US-China trade negotiations resume in London on Tuesday, both sides are eager to rebuild the truce established in May. While, the US has tightened controls on AI chip exports, China may be holding the most valuable card in these talks. CNN reports: Read more here. Advertising firm, WPP said on Tuesday that global advertising revenue is expected to grow 6% this year, lowering its earlier target of 7.7% due to the uncertainty surrounding US trade policies. Reuters reports: Read more here. Bloomberg reported that trade talks between the US and China will resume tomorrow morning at 10 a.m. in London after six hours of negotiations on Monday. US officials were looking for a "handshake" on Monday, National Economic Council director Kevin Hassett told CNBC, as the two sides look to ease tensions over tech and rare earths. President Trump weighed in on the progress, telling reporters on Monday: "We are doing well with China. China's not easy. ... I'm only getting good reports.' Treasury Secretary Scott Bessent, meanwhile, said it was "good meeting" and Commerce Secretary Howard Lutnick called the talks "fruitful," sending an upbeat signal on the talks' progress. The Chinese delegation, led by Vice Premier He Lifeng, did not comment on the talks. From Bloomberg: Read more here. The number of ocean containers from China bound for the US fell precipitously in May when President Trump's 145% tariffs on Chinese goods were in effect. Supply chain technology company Descartes said Monday that seaborne imports from China to the US dropped 28.5% year over year, the sharpest decline since the pandemic, per Reuters. Overall, US seaborne imports fell 7.2% annually in May to 2.18 million 20-foot equivalent units. The decline snaps a streak of increases fueled by companies frontloading goods to avoid higher duties, which has kept US seaports, such as the Port of Long Beach, busy. "The effects of U.S. policy shifts with China are now clearly visible in monthly trade flows," Descartes said in a statement. Read more here. In today's Chart of the Day, Yahoo Finance's Josh Schafer writes that tariff headlines have been rattling markets to a lesser degree than they did in April, despite an escalation of trade tensions recently: Sign up for the Morning Brief newsletter to get the Chart of the Day in your inbox. US import costs of steel and aluminum are expected to rise by more than $100 billion after President Trump doubled tariffs on the metals to 50% this week. That is expected to impact automakers such as Ford (F), as well as importers for a variety of goods, from baseball bats to aircraft parts. The Financial Times reports: Read more here. Tariffs have brought challenges for many, but Century Aluminum (CENX) and top recycler Matalco stand to benefit from President Trump's metal import duties as domestic prices rise. Reuters reports: Read more here.
Yahoo
4 hours ago
- Yahoo
ATO tax deduction to take advantage of before June 30: 'Better off'
Tax time is just around the corner, and many Aussies will be looking to make some last-minute purchases to help maximise their returns. An accountant has revealed one common item that you'll generally be able to claim a tax deduction on: your work bag. The Australian Taxation Office (ATO) allows taxpayers to claim a deduction for a handbag if they purchase it to carry work items, such as a laptop, tablet, work papers or diaries. Your bag will need to be suitable for carrying work equipment, mainly used for work, plus you'll need to have records to prove your purchase. Aussie tax guru Kiki told Yahoo Finance that if you used the bag for personal purposes, you'll need to apportion the cost between work and personal use accordingly. RELATED ATO warning over 'deluge' coming for taxpayers in coming weeks Major RBA interest rate call set to give homeowners $250 per month win $400 cash boost available for thousands of Aussies in new energy rebate 'The other thing is the value of the bag itself. Normally, with any work-related expenses, anything less than $300 is immediately tax deductible,' the accountant said. 'But if it's over $300, then you have to depreciate it. Let's say the bag is for $500, then you have to depreciate it over its useful life.' Kiki said people who claimed luxury bags would sometimes raise eyebrows. 'Are you really using that expensive bag for work? And if you are, are you only using it for work and not using it for personal reasons?' she said. If you are able to establish that you use the bag for work, you can only tax deduct the portion that is used for work. 'So if I buy a Louis Vuitton bag, I can't claim the full amount as a tax deduction, because there's a high chance I also use that bag on the weekend,' she said. 'Since it's likely over $300, I'd also need to depreciate it over its useful life rather than claim it upfront.' The ATO said you can't claim a deduction for bags or cases if you mainly used them for private purposes, such as carrying your lunch. You also can't claim if someone else supplied you with the bag. Along with being able to claim a handbag in selected circumstances, the ATO lets you claim briefcases, laptop bags, satchels and luggage. You can find out more about the rules here. If you're looking for ways to maximise your tax return, bringing forward tax-deductible purchases could be worth considering. That could be things like a new desk or monitor for your home office, any subscriptions you use for work, or work-related technology. 'Whether it's a bag or stationery or a new phone for work, you're better off buying it before 30 June because you can tax deduct it in your 2025 Australian tax return,' Kiki told Yahoo Finance. Spending on an investment property, such as a depreciation report, or even engaging an accountant to do your tax return can also be tax deductible. 'If you are looking to engage an accountant, consider engaging them before 30 June, pay them the fees so that you can claim that fee in your tax return,' Kiki said. If you prepaid $2,000 worth of tax-deductible expenses, for example, and your income was above $45,000, your tax rate would be at least 32 per cent. That means you'd get an extra $640 back in your refund as a in to access your portfolio
Yahoo
4 hours ago
- Yahoo
ColonBroom GLP-1 Booster Website Updated to Highlight Daily Supplement for Metabolic Health
New website update showcases natural GLP-1 support supplement designed to curb cravings, support metabolism, and promote healthy weight management SAN FRANCISCO, June 10, 2025 (GLOBE NEWSWIRE) -- ColonBroom, a U.S.-based wellness brand, has announced a new update to its official website to highlight the launch of ColonBroom GLP-1 Booster—a daily supplement formulated to support metabolic function, appetite regulation, and overall weight wellness. Now available across the United States, the product offers a natural, lifestyle-friendly solution backed by science-supported ingredients. According to the official product website ( ColonBroom GLP-1 Booster is designed to work alongside the body's internal systems by promoting satiety, curbing cravings, and supporting blood sugar balance. The formula targets key wellness goals like reducing excess visceral fat and helping users manage weight more effectively without relying on restrictive diets or intense routines. 'ColonBroom GLP-1 Booster reflects our mission to simplify wellness with natural tools that align with modern lifestyles,' said a company spokesperson. 'This formula is designed with purpose—combining evidence-backed ingredients for those seeking real metabolic support.' The formulation includes Berberine, Chromium Picolinate, 5-HTP, Saffron Extract, and Bupleurum Root Extract—ingredients selected for their known roles in supporting GLP-1 activity, blood sugar balance, mood regulation, and fat metabolism. ColonBroom confirms that all supplements are manufactured in facilities that adhere to rigorous quality and safety protocols. The brand offers a satisfaction guarantee for new customers and invites visitors to explore ingredient insights, customer FAQs, and personalized quiz recommendations directly on the website. About ColonBroom ColonBroom is a San Francisco-based wellness brand dedicated to creating clean, effective, and easy-to-use daily supplements. With a focus on transparency and science-backed simplicity, ColonBroom empowers adults to take proactive steps toward digestive and metabolic wellness. Product and Contact Information Brand: ColonBroomWebsite: hello@ (Order Support): 1-888-505-0855Mailing Address: 505 Montgomery Street, 10th & 11th Floors, San Francisco, California, 94111, USA Disclaimer This release is for informational purposes only and does not constitute medical advice, diagnosis, or treatment. The statements made about this product have not been evaluated by the Food and Drug Administration. Individual results may vary. Consumers should consult a qualified healthcare provider before beginning any new dietary supplement. CONTACT: Email: hello@ Phone (Order Support): 1-888-505-0855Sign in to access your portfolio
