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Tech companies looking to overhaul the health insurance industry have made much-hyped entries onto the public market. But they have yet to prove they can make money in the long run.

The stocks of two of the sector’s star companies  — Oscar Health and Clover Health —  have plummeted since their initial trades. They’re still racking up losses and the proportion of premiums they spend on medical claims outpaces that of lower-tech health insurance competitors, analysts tell STAT.

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