Health Insurance Innovations Partners With HCC Life Insurance Company to Expand Short-Term Medical Portfolio
03 Julho 2013 - 11:00AM
Health Insurance Innovations, Inc. ("HII") (Nasdaq:HIIQ), an
industry leader in the sale of Short-Term Medical (STM) plans,
announces the launch of HealtheMed STM through its partnership with
HCC Life Insurance Company (NYSE:HCC), a leading provider of
medical stop loss, group term and short term medical insurance.
The newest addition to HII's short-term options, HealtheMed STM,
offers customizable, affordable, high-quality short-term,
limited-duration insurance to fill gaps in coverage. HealtheMed STM
is ideal for individuals between jobs, new hires, early retirees,
recently naturalized citizens, and recent college graduates.
Consumers may purchase a HealtheMed STM plan for up to six or
eleven months, depending on location. This robust addition to HII's
suite of STM products debuts at the perfect time, as the market for
affordable health insurance appears poised for rapid growth.
"HII's new short-term medical plan with HCC is being launched in
45 states and will enhance our national presence by providing a
competitive product that meets the needs of today's consumers,"
said Mike Kosloske, President & CEO of Health Insurance
Innovations. "ACA implementation in 2014 and beyond is
expected to be the largest increase of entrants to the US
individual health marketplace. HII's commitment to making
short-term medical available to and affordable for every American
who needs coverage, and HCC Life's track-record of underwriting
highly-successful niche insurance products, creates a strong and
long-lasting partnership that will benefit the U.S. consumer."
About HCC Life Insurance Company
HCC Life Insurance Company (HCC Life) is an Indiana-domiciled
life insurance company with an extensive product portfolio
including medical stop loss, group term and short term medical
insurance. HCC Life's short-term medical insurance is backed by the
financial stability of its parent company, HCC Insurance Holdings,
Inc. (NYSE:HCC). HCC Life has consistently held an A+ (Superior)
rating for financial strength by A.M. Best Company as well as AA
(Very Strong) ratings by Standard & Poor's and Fitch
Ratings.
About Health Insurance Innovations, Inc.
Headquartered in Tampa, Fla., Health Insurance Innovations,
Inc., (HII) (Nasdaq:HIIQ) creates customizable and affordable,
high-quality health insurance products and supplemental services
through partnerships with best-in-class carriers. We are an
industry leader in the sale of 12-month short-term medical
insurance plans, which provide an economical alternative to
Individual Major Medical plans. HII pioneered and engineered its
next-generation, cloud-based technology platform to provide
licensed agents, brokers, and call centers with real-time health
insurance solutions, allowing them to tailor plans to fit
consumers' budgets and needs.
Additional information about HII can be found at
www.hiiquote.com. The reference to our website is not intended to
incorporate our website into this press release.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements are statements other than
historical fact, and may include statements relating to goals,
plans and projections regarding new markets, products, services,
growth strategies, anticipated trends in our business and
anticipated changes and developments in the United States health
insurance system and laws. Forward-looking statements are based on
management's current expectations and beliefs and involve
significant risks and uncertainties that could cause actual
results, developments and business decisions to differ materially
from those contemplated by these statements. These risks and
uncertainties include, among other things, our ability to maintain
relationships and develop new relationships with health insurance
carriers and distributors, our ability to retain our members, the
demand for our products, the amount of commissions paid to us or
changes in health insurance plan pricing practices, competition,
changes and developments in the United States health insurance
system and laws, the ability to maintain and enhance our name
recognition and our ability to build the necessary infrastructure
and processes to maintain effective controls over financial
reporting. These and other risk factors that could cause actual
results to differ materially from those expressed or implied in our
forward-looking statements are and will be discussed in HII's most
recent Annual Report on Form 10-K filed with the Securities and
Exchange Commission as well as other documents that may be filed by
HII from time to time with the Securities and Exchange
Commission.
Any forward-looking statement made by us in this press release
is based only on information currently available to us and speaks
only as of the date on which it is made. You should not rely on the
statement as representing our views in the future. We undertake no
obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
CONTACT: Health Insurance Innovations, Inc.:
Michael Hershberger
Chief Financial Officer
(877) 376 5831 ext.313
mhershberger@hiiquote.com
Investor Contact:
Susan Noonan
S.A. Noonan Communications, LLC
(212) 966 3650
susan@sanoonan.com
Media Contact:
Andreas Marathovouniotis
Russo Partners, LLC
(212) 845-4235
andreas.marathis@russopartnersllc.com
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