Heath Insurance Innovations Comments on Health and Human Services’ Revised Definition of Short-Term, Limited-Duration Insur...
31 Outubro 2016 - 6:30PM
Health Insurance Innovations, Inc. (NASDAQ:HIIQ), a leading
developer, distributor, and virtual administrator of affordable
health plans, shared comments on today’s announcement by the
Department of Health and Human Services (HHS) related to the
definition of short-term, limited-duration insurance. Beginning
January 1, 2017, HHS has announced changes that limit short-term,
limited-duration insurance to be effective no more than three
months and require notification of non-compliance with the minimum
essential coverage standards set forth in the Affordable Care Act
(ACA). HHS has decided to move forward with changes despite
receiving a significant amount of opposing stakeholder feedback
during the comment period. Opponents expressed concern about the
harmful effects these changes will have on vulnerable consumer
populations.
Health Insurance Innovations (HII) is a
healthcare technology company that develops and distributes
insurance products in partnership with best-in-class insurance
carriers. HII offers a suite of products that address three
critical consumer needs: the need to attain coverage outside
the open enrollment period, the need for affordable coverage with a
broad network, and the need to offset high out-of-pocket expenses
associated with ACA plans.
HII’s path forward will continue to focus on
affordable health insurance products designed to meet consumer
needs; beyond continuing distribution of STM policies in accordance
with HHS rules, it is expected that the hospital indemnity product
will be a key area of emphasis that the Company believes could
ultimately represent an even larger opportunity than the short-term
market. “As we look to 2017, we plan to offer new products, grow
our already strong distribution channels, and continue our
direct-to-consumer emphasis while simultaneously increasing
operating leverage.” said Patrick McNamee, HII CEO. McNamee
continued by saying “We are confident that HII will continue to
develop new and innovative products that will meet ever-changing
consumer needs. We look forward to working with state and
federal insurance regulators
to ensure consumers continue to have access health
insurance products that meet their personal and financial
needs.”
About Health Insurance Innovations,
Inc.HII is a market leader in developing innovative health
insurance products that are affordable and meet the needs of health
insurance plan shoppers. HII develops insurance products through
partnerships with best-in-class insurance companies and markets
them via its broad distribution network of licensed insurance
agents across the nation, its call center network and its unique
online capability. Additional information about HII can be
found at HiiQuote.com. HII's Consumer Division
includes AgileHealthInsurance.com, a website for researching,
comparing and purchasing short-term health insurance products
online and HealthPocket.com, a free website that compares and
ranks all health insurance plans, and uses objective data to
publish unbiased health insurance market analyses and other
consumer advocacy research.
Forward-Looking StatementsThis
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 HII's current assumptions, expectations and
beliefs are generally identifiable by use of words "may," "might,"
"will," "should," "expects," "plans," "anticipates," "believes,"
"estimates," "predicts," "potential" or "continue," or similar
expressions 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, our ability to integrate our acquisitions (including
our July 2014 acquisition of HealthPocket, Inc.),
competition, changes and developments in the United
States health insurance system and laws, and HII's ability to
adapt to them, the ability to maintain and enhance our name
recognition, difficulties arising from acquisitions or other
strategic transactions, 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 discussed in HII's most
recent Annual Report on Form 10-K filed with the Securities
and Exchange Commission (SEC) 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. 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 any
forward-looking 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.
Contacts
Michael Hershberger
Chief Financial Officer
Health Insurance Innovations, Inc.
(877) 376-5831 ext. 282
mhershberger@hiiquote.com
John Evans
Investor Relations
PIR Communications
(415) 309-0230
IR@hiiquote.com
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