Health Insurance Innovations Strengthens Product Portfolio With Addition of 'Principle Advantage' to Address Specialty Insura...
22 Agosto 2013 - 9:00AM
Health Insurance Innovations, Inc. ("HII"), (Nasdaq:HIIQ), an
industry leader in the sale of Short‐Term Medical ("STM") plans,
today announced the launch of Principle Advantage Limited Benefit
Health Insurance with Companion Life Insurance Co., a specialist in
the employee benefit market for over 40 years.
Principle Advantage is an impactful new addition to Health
Insurance Innovations' Limited Benefit selections, designed for
individuals looking for affordable, fixed-benefit coverage to
assist with out-of-pocket medical expenses. Principle Advantage
offers consumers the option of selecting one of four benefit levels
to pay set amounts for doctor visits, surgery, lab work,
anesthesia, ambulance, and hospital charges. Eligible insureds are
able to remain on the policy until age 65, with benefits renewing
per policy year.
"Today's debut of Principle Advantage, a dynamic,
guaranteed-issue Limited Benefit plan, expands, enhances, and
promotes Health Insurance Innovations' growing product portfolio to
a broad and rapidly-developing market," said Mike Kosloske,
President & CEO of Health Insurance Innovations. "Principle
Advantage helps people pay for the medical services they need when
they cannot afford or qualify for individual major medical
insurance. Plus, the product is backed by Companion, a trusted
partner and 'A+' rated insurance carrier."
About Companion Life
Headquartered in Columbia, S.C., Companion Life Insurance Co.
has specialized in employee benefits since 1971. The company
markets life, dental, disability, accident, and specialty health
insurance products through a network of independent agents and
brokers, general agents and managing general underwriters.
Companion Life markets its products and services in 46 states and
the District of Columbia. The company holds an A+ (Superior) rating
from A.M. Best Company.
About Health Insurance Innovations, Inc.
Headquartered in Tampa, Florida, Health Insurance Innovations,
Inc. 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 without limitation, our ability to maintain
relationships and develop new relationships with health insurance
carriers and distributors and the risk of customer attrition; 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 and our ability to compete
successfully; changes and developments in the United States health
insurance system and laws, the ability to maintain and enhance our
name recognition; our ability to build the necessary infrastructure
and processes to maintain effective controls over financial
reporting; our ability to identify and complete acquisitions,
manage our growth and integrate acquisitions; potential liability
for the use of incorrect or incomplete data; interruption of our
operations due to outside sources; maintaining our intellectual
property rights and litigation involving intellectual property
rights; our ability to obtain, use or successfully integrate
third-party licensed technology; compliance with existing laws,
regulations and industry initiatives and future change in laws or
regulations in the healthcare industry; breach of our security by
third parties; our dependence on the expertise of our key
personnel; and potential write-offs of goodwill or other intangible
assets. This list is not exhaustive of the factors that may
affect any of our forward-looking statements. These and other
risk factors that could cause actual results to differ materially
from those expressed or implied in our forward-looking statements
are 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,
which are available at www.sec.gov. Investors
are cautioned not to put undue reliance on forward-looking
statements.
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
Investor Contact:
Susan Noonan
S.A. Noonan Communications, LLC
(212) 966 3650
Media Contact:
Andreas Marathovouniotis
Russo Partners, LLC
(212) 845-4235
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