| Cover | 12 Months Ended |
| Dec. 31, 2022 | |
| Document Information [Line Items] | |
| Document Type | DEF 14A |
| Amendment Flag | false |
| Entity Information [Line Items] | |
| Entity Registrant Name | Oscar Health, Inc. |
| Entity Central Index Key | 0001568651 |
| Pay vs Performance Disclosure - USD ($) | 12 Months Ended | |
| Dec. 31, 2022 | Dec. 31, 2021 | |
| Pay vs Performance Disclosure [Table] | ||
| Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, (“Non-CEO S-K Year Summary (1)(2) Compensation (1)(3) Average for Non-CEO (1)(2) Average to Non-CEO (1)(3) Value of Initial Fixed $100 Net (5) Adjusted (6) Total (4) Peer Group (4) 2022 $ 652,405 ($ 1,019,097 ) $ 1,090,898 ($ 1,696,174 ) $ 7.07 $ 38.53 ($ 609,552 ) ($ 462,255 ) 2021 $ 60,814,546 ($ 8,865,630 ) $ 10,885,903 ($ 4,147,460 ) $ 22.56 $ 68.99 ($ 571,426 ) ($ 429,826 ) (1) CEO and NEOs included in these columns reflect the following: Year CEO Non-CEO 2022 Mario Schlosser Siddhartha Sankaran, R. Scott Blackley, Ranmali Bopitiya, Alessandrea Quane, Dennis Weaver 2021 Mario Schlosser R. Scott Blackley, Siddhartha Sankaran, Alessandrea Quane, Meghan Joyce, Joshua Kushner (2) Amounts reflect Summary Compensation Table Total Pay for our CEO and NEOs for each corresponding year. In 2021, these amounts include the grant date fair value of the Founders Awards granted to Mr. Schlosser and Mr. Kushner in connection with our initial public offering. As discussed in our CD&A, these awards were voluntarily canceled and terminated on March 28, 2023. (3) The following table details the adjustment to the Summary Compensation Table Total Pay for our CEO, as well as the average for our other NEOs, to determine “compensation actually paid,” as computed in accordance with Item 402(v). No other adjustments are required to be made in accordance with SEC rules. Amounts do not reflect actual compensation earned by or paid to our NEOs during the applicable year. CEO Avg. of NEOs Year in Table: 2022 2021 2022 2021 Total Compensation as reported in the Summary Compensation Table (“SCT”) $ 652,405 $ 60,814,546 $ 1,090,898 $ 10,885,903 Less: Grant-Date Fair Value of Equity Awards as reported in SCT (a) $ 0 $ 60,161,726 $ 428,354 $ 10,451,458 Add: Year-End (b) $ 0 $ 646,237 $ 448,405 $ 1,950,524 Add: Change in Fair Value of Outstanding and Unvested Equity Awards (b) ($ 833,300 ) ($ 10,425,458 ) ($ 2,460,084 ) ($ 6,219,862 ) Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year (b) $ 0 $ 220 $ 31,559 $ 894,628 Add: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year (b) ($ 838,203 ) $ 260,552 ($ 378,598 ) ($ 1,207,196 ) Compensation Actually Paid ($ 1,019,097 ) ($ 8,865,630 ) ($ 1,696,174 ) ($ 4,147,460 ) (a) The amounts reflect the aggregate grant-date fair value reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year. (b) The fair values of unvested and outstanding equity awards to our NEOs were remeasured as of the end of each fiscal year, and as of each vesting date, during the years displayed in the table above. Fair values as of each measurement date were determined using valuation assumptions and methodologies (including volatility, dividend yield, and risk-free interest rates) that are generally consistent with those used to estimate fair value at grant in accordance with ASC Topic 718. For stock options, the grant-date fair values were estimated using Black-Scholes. Subsequent valuations at the end of each fiscal year and as of each vest date are performed using a lattice model, as the latter provides a better estimate of options that are no longer at-the-money. Stock Compensation Plans Form 10-K (4) The amounts reflect the cumulative total shareholder return (TSR) of our common stock and the Morgan Stanley Digital Health Index at the end of each fiscal year. The TSR value listed in each year reflects what the cumulative value of $100 would be if invested on March 3, 2021 (the date of our initial public offering). TSR is calculated on a cumulative basis by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment (if any), and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. Historical stock price performance is not necessarily indicative of future stock performance. (5) The dollar amounts reported represent the net income reflected in the Company’s audited financial statements for the applicable year. (6) While we use numerous financial and non-financial | |
| Company Selected Measure Name | Adjusted EBITDA | |
| Named Executive Officers, Footnote [Text Block] | (1) CEO and NEOs included in these columns reflect the following: Year CEO Non-CEO 2022 Mario Schlosser Siddhartha Sankaran, R. Scott Blackley, Ranmali Bopitiya, Alessandrea Quane, Dennis Weaver 2021 Mario Schlosser R. Scott Blackley, Siddhartha Sankaran, Alessandrea Quane, Meghan Joyce, Joshua Kushner | |
| Peer Group Issuers, Footnote [Text Block] | The amounts reflect the cumulative total shareholder return (TSR) of our common stock and the Morgan Stanley Digital Health Index at the end of each fiscal year. The TSR value listed in each year reflects what the cumulative value of $100 would be if invested on March 3, 2021 (the date of our initial public offering). TSR is calculated on a cumulative basis by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment (if any), and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. Historical stock price performance is not necessarily indicative of future stock performance. | |
| PEO Total Compensation Amount | $ 652,405 | $ 60,814,546 |
| PEO Actually Paid Compensation Amount | $ (1,019,097) | (8,865,630) |
| Adjustment To PEO Compensation, Footnote [Text Block] | (3) The following table details the adjustment to the Summary Compensation Table Total Pay for our CEO, as well as the average for our other NEOs, to determine “compensation actually paid,” as computed in accordance with Item 402(v). No other adjustments are required to be made in accordance with SEC rules. Amounts do not reflect actual compensation earned by or paid to our NEOs during the applicable year. CEO Avg. of NEOs Year in Table: 2022 2021 2022 2021 Total Compensation as reported in the Summary Compensation Table (“SCT”) $ 652,405 $ 60,814,546 $ 1,090,898 $ 10,885,903 Less: Grant-Date Fair Value of Equity Awards as reported in SCT (a) $ 0 $ 60,161,726 $ 428,354 $ 10,451,458 Add: Year-End (b) $ 0 $ 646,237 $ 448,405 $ 1,950,524 Add: Change in Fair Value of Outstanding and Unvested Equity Awards (b) ($ 833,300 ) ($ 10,425,458 ) ($ 2,460,084 ) ($ 6,219,862 ) Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year (b) $ 0 $ 220 $ 31,559 $ 894,628 Add: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year (b) ($ 838,203 ) $ 260,552 ($ 378,598 ) ($ 1,207,196 ) Compensation Actually Paid ($ 1,019,097 ) ($ 8,865,630 ) ($ 1,696,174 ) ($ 4,147,460 ) (a) The amounts reflect the aggregate grant-date fair value reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year. (b) The fair values of unvested and outstanding equity awards to our NEOs were remeasured as of the end of each fiscal year, and as of each vesting date, during the years displayed in the table above. Fair values as of each measurement date were determined using valuation assumptions and methodologies (including volatility, dividend yield, and risk-free interest rates) that are generally consistent with those used to estimate fair value at grant in accordance with ASC Topic 718. For stock options, the grant-date fair values were estimated using Black-Scholes. Subsequent valuations at the end of each fiscal year and as of each vest date are performed using a lattice model, as the latter provides a better estimate of options that are no longer at-the-money. Stock Compensation Plans Form 10-K | |
| Non-PEO NEO Average Total Compensation Amount | $ 1,090,898 | 10,885,903 |
| Non-PEO NEO Average Compensation Actually Paid Amount | $ (1,696,174) | (4,147,460) |
| Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (3) The following table details the adjustment to the Summary Compensation Table Total Pay for our CEO, as well as the average for our other NEOs, to determine “compensation actually paid,” as computed in accordance with Item 402(v). No other adjustments are required to be made in accordance with SEC rules. Amounts do not reflect actual compensation earned by or paid to our NEOs during the applicable year. CEO Avg. of NEOs Year in Table: 2022 2021 2022 2021 Total Compensation as reported in the Summary Compensation Table (“SCT”) $ 652,405 $ 60,814,546 $ 1,090,898 $ 10,885,903 Less: Grant-Date Fair Value of Equity Awards as reported in SCT (a) $ 0 $ 60,161,726 $ 428,354 $ 10,451,458 Add: Year-End (b) $ 0 $ 646,237 $ 448,405 $ 1,950,524 Add: Change in Fair Value of Outstanding and Unvested Equity Awards (b) ($ 833,300 ) ($ 10,425,458 ) ($ 2,460,084 ) ($ 6,219,862 ) Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year (b) $ 0 $ 220 $ 31,559 $ 894,628 Add: Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year (b) ($ 838,203 ) $ 260,552 ($ 378,598 ) ($ 1,207,196 ) Compensation Actually Paid ($ 1,019,097 ) ($ 8,865,630 ) ($ 1,696,174 ) ($ 4,147,460 ) (a) The amounts reflect the aggregate grant-date fair value reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year. (b) The fair values of unvested and outstanding equity awards to our NEOs were remeasured as of the end of each fiscal year, and as of each vesting date, during the years displayed in the table above. Fair values as of each measurement date were determined using valuation assumptions and methodologies (including volatility, dividend yield, and risk-free interest rates) that are generally consistent with those used to estimate fair value at grant in accordance with ASC Topic 718. For stock options, the grant-date fair values were estimated using Black-Scholes. Subsequent valuations at the end of each fiscal year and as of each vest date are performed using a lattice model, as the latter provides a better estimate of options that are no longer at-the-money. Stock Compensation Plans Form 10-K | |
| Compensation Actually Paid vs. Total Shareholder Return [Text Block] | CAP vs. Company TSR As shown in the table above, the CAP amount for our CEO and the average CAP amount for our other NEOs are directionally aligned with the Company’s TSR, as declining TSR resulted in negative CAP amounts. From 2021 to 2022, the CAP amount for our CEO and the average CAP amount for our other NEOs continued to be negative, although was not as low in 2022 as it was in 2021. Also, the rate at which our TSR decreased was lower from 2021 to 2022, as we experienced a 77.4% decrease in our TSR from March 3, 2021 to December 31, 2021, compared to a 68.7% decrease in our TSR from January 1, 2022 to December 31, 2022. | |
| Compensation Actually Paid vs. Net Income [Text Block] | CAP vs. Net Income and Adjusted EBITDA As shown in the table above, the CAP amount for our CEO and the average CAP amount for our other NEOs are directionally aligned with the Company’s net income and adjusted EBITDA. From 2021 to 2022, the CAP amount for our CEO and the average CAP amount for our other NEOs continued to be negative, and we experienced a 6.7% decrease in our net income and a 7.5% decrease in our adjusted EBITDA over the same period. While Adjusted EBITDA was down slightly year over year, please see the section titled “ 2022 Performance Highlights and Pay for Performance | |
| Compensation Actually Paid vs. Company Selected Measure [Text Block] | CAP vs. Net Income and Adjusted EBITDA As shown in the table above, the CAP amount for our CEO and the average CAP amount for our other NEOs are directionally aligned with the Company’s net income and adjusted EBITDA. From 2021 to 2022, the CAP amount for our CEO and the average CAP amount for our other NEOs continued to be negative, and we experienced a 6.7% decrease in our net income and a 7.5% decrease in our adjusted EBITDA over the same period. While Adjusted EBITDA was down slightly year over year, please see the section titled “ 2022 Performance Highlights and Pay for Performance | |
| Total Shareholder Return Vs Peer Group [Text Block] | Company TSR vs. Peer Group TSR As shown in the table above, our TSR was trending in a similar manner as the TSR for our peer group. The TSR peer group is based on the Morgan Stanley Digital Health Index, which includes a broad mix of health tech companies. The TSR for the peer group decreased by 61.5% from 2021 to 2022, compared to a 92.9% decrease in our TSR over the same period. | |
| Tabular List [Table Text Block] | Tabular List of Financial Performance Metrics We believe the following performance measures represent the most important financial performance measures used by us to link compensation actually paid to our NEOs for the fiscal year ended December 31, 2022: • Adjusted EBITDA; • InsuranceCo Combined Ratio; and • Stock Price Performance. | |
| Total Shareholder Return Amount | $ 7.07 | 22.56 |
| Peer Group Total Shareholder Return Amount | 38.53 | 68.99 |
| Net Income (Loss) | $ (609,552,000) | $ (571,426,000) |
| Company Selected Measure Amount | (462,255,000) | (429,826,000) |
| PEO Name | Mario Schlosser | |
| Measure [Axis]: 1 | ||
| Pay vs Performance Disclosure [Table] | ||
| Measure Name | Adjusted EBITDA | |
| Measure [Axis]: 2 | ||
| Pay vs Performance Disclosure [Table] | ||
| Measure Name | InsuranceCo Combined Ratio | |
| Measure [Axis]: 3 | ||
| Pay vs Performance Disclosure [Table] | ||
| Measure Name | Stock Price Performance | |
| PEO [Member] | Grant Date Fair Value of Equity Awards as reported in SCT [Member] | ||
| Pay vs Performance Disclosure [Table] | ||
| Adjustment to Compensation Amount | $ 0 | $ (60,161,726) |
| PEO [Member] | Year End Fair Value of Equity Awards Granted in the Year [Member] | ||
| Pay vs Performance Disclosure [Table] | ||
| Adjustment to Compensation Amount | 0 | 646,237 |
| PEO [Member] | Change in Fair Value of Outstanding and Unvested Equity Awards [Member] | ||
| Pay vs Performance Disclosure [Table] | ||
| Adjustment to Compensation Amount | (833,300) | (10,425,458) |
| PEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | ||
| Pay vs Performance Disclosure [Table] | ||
| Adjustment to Compensation Amount | 0 | 220 |
| PEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | ||
| Pay vs Performance Disclosure [Table] | ||
| Adjustment to Compensation Amount | (838,203) | 260,552 |
| Non-PEO NEO [Member] | Grant Date Fair Value of Equity Awards as reported in SCT [Member] | ||
| Pay vs Performance Disclosure [Table] | ||
| Adjustment to Compensation Amount | (428,354) | (10,451,458) |
| Non-PEO NEO [Member] | Year End Fair Value of Equity Awards Granted in the Year [Member] | ||
| Pay vs Performance Disclosure [Table] | ||
| Adjustment to Compensation Amount | 448,405 | 1,950,524 |
| Non-PEO NEO [Member] | Change in Fair Value of Outstanding and Unvested Equity Awards [Member] | ||
| Pay vs Performance Disclosure [Table] | ||
| Adjustment to Compensation Amount | (2,460,084) | (6,219,862) |
| Non-PEO NEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | ||
| Pay vs Performance Disclosure [Table] | ||
| Adjustment to Compensation Amount | 31,559 | 894,628 |
| Non-PEO NEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | ||
| Pay vs Performance Disclosure [Table] | ||
| Adjustment to Compensation Amount | $ (378,598) | $ (1,207,196) |
