Health insurance startups like Bright and Oscar have raked in $3 billion in venture funding. Here's how they fared through the first half of 2019.

Bright Health; Alex Wong/Getty; Clover Health; Oscar Health; Shayanne Gal/Business Insider

Bright Health CEO Bob Sheehy, Devoted Health co-founder and executive chairman Todd Park, Clover Health CEO Vivek Garipalli, and Oscar Health CEO Mario Schlosser.

• A crop of health insurance startups - Oscar Health, Devoted Health, Bright Health, and Clover Health - have raised a combined $3 billion to use technology to build new kinds of health-insurance plans.
• We took a look at their financials through the first half of 2019.
• The financial results were mixed, with some of the startups posting profits through the first half and others posting losses, financial filings show.
• Click here for more BI Prime stories.

Health insurance startups just came out with their second-quarter financial results for 2019.

The startups are taking on some of the biggest companies in the US, like UnitedHealth Group and CVS Health. They're trying to get a foothold in massive insurance markets, with the bet that technology can help them provide better care to their members.

Complimentary Tech Event

Transform talent with learning that works

Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

Business Insider looked through regulatory filings of four startups - Oscar Health, Devoted Health, Bright Health, and Clover Health - to get a sense of how the startups fared.

The results were mixed, with Oscar and Bright reporting profits and Devoted and Clover posting losses for the first half of the year. The startups mainly sell health insurance to individuals in the Affordable Care Act's markets and to seniors in the form of Medicare Advantage health plans.

Oscar also signed a second reinsurance agreement, this time with Berkshire Hathaway's NICO subsidiary.

The companies have been raising funds from investors to support their growth. In August 2018, Oscar Health raised $375 million from Alphabet as it gears up to get into the Medicare Advantage market in 2020. Devoted Health in October raised $300 million in a round led by Andreessen Horowitz ahead of launching its first Medicare Advantage plans in Florida this year.

Bright Health, a Minneapolis startup that provides individual and Medicare Advantage plans, in November raised $200 million. Clover Health in January raised $500 million in a round led by Greenoaks Capital.

The slides below have more information about each company's funding, financials, and expansion plans.