According to a recent report, Oscar Health Insurance, the insurance company belonging to Kushner’s younger brother, Joshua Kushner, was founded to exploit Obamacare’s system of individual insurance markets. Oscar Health targeted mainly young customers from urban areas. Jared Kushner reportedly had a financial stake in the business before distancing himself to become President Trump’s Senior Advisor.
Jared Kushner’s stake in Thrive Capital, a New York-based investment firm linked him directly to Oscar Health Insurance which employed lobbyists to push for continuing Obamacare.
Oscar’s founders have been upfront about the importance of Obamacare to the company’s creation — and ongoing success.
“I don’t think we could do this without Obamacare,” Mario Schlosser, one of the insurance company’s co-founders and one of Joshua Kushner’s college friends, told the Washington Post in 2013.
What’s more, Jared failed to mention the stake in Oscar Health in his public financial disclosure forms because the law only requires him to list Thrive Capital.
Earlier this year, White House Deputy Counsel Stefan Passantino wrote a letter to Trump asking that his son-in-law divest from Oscar or recuse himself from health care-related matters if he chooses not to. Passantino began warning the White House of the potential conflicts of interest as early as Jan. 25, 2017.
The Office of Government Ethics, which received a copy of the letter, published it on its official website along with files disclosed under FIFA requests.
The Kushner Brothers Controlled the Company
Exactly how much money Kushner poured into the health insurance company and for how long is unknown. His disclosure doesn’t offer details on Thrive’s specific investments. However, Kushner invested between $6 million to $11 million in the firm.
A document from the New York State’s Department of Financial Services shows that the two brothers were “the ultimate controlling persons” in the health insurance company since they were the sole founders of Thrive Partners III GP, LLC, which is part of Thrive Capital Partners III, L.P.