By providing virtual health support and low-cost medical expenditures, well known U.S. insurance companies Cigna (CI) and Oscar Health (OSCR) are well-positioned to capitalize on industry tailwinds as the demand for comprehensive insurance coverage plans rises. So, let’s find out which of these stocks is a better buy now.Cigna Corporation (NYSE:) is a health insurance company that provides medical and dental insurance and related products and services. The company distributes its products and services through insurance brokers and consultants, directly to employers, and private and public exchanges.
Oscar Health, Inc. (OSCR) is a technology-enabled health insurance company that offers insurance plans to individuals, families, and businesses. The company’s full stack technology platform allows it to offer personalized insights and benefits, and helps its members find quality care at affordable rates.
Health insurance companies have been upgrading their insurance policies with various premium options and to offer attractive reimbursement policies amid the pandemic-led uncertainty regarding healthcare. To capitalize on current market trends, companies have been developing insurance products that provide access to low-cost, 24/7 virtual quality doctor visits. This trend is likely to continue for the foreseeable future also. The global health insurance market is expected to grow at a 5.5% CAGR over the next seven years to reach $3.04 trillion by 2028.
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