Health Insurance Innovations, Inc. Terminates Relationship with Health Benefits One, LLC
02 Novembro 2018 - 5:21PM
Health Insurance Innovations, Inc. (NASDAQ:HIIQ), a leading
cloud-based technology platform and distributor of affordable
individual and family health insurance and supplemental plans,
today announced the termination of its relationship with Health
Benefits One, LLC (“Simple Health”).
On November 1, 2018, Health Insurance Innovations, Inc. (“HIIQ”)
was made aware of an action brought by the Federal Trade Commission
(FTC) against Simple Health. Simple Health is an independent,
third-party licensed insurance distributor that marketed and sold
products offered by various insurance carriers, including insurance
carriers who sell products through HIIQ’s platform. Upon
receiving notice of the FTC’s action, HIIQ immediately suspended
its relationship with Simple Health and contacted the FTC to offer
its support and assistance in the FTC’s investigation.
HIIQ maintains an active internal compliance team and works
closely with state insurance agencies. The company has
relationships with over 100 independent insurance sales agencies,
many of whom sell products for many different carriers, and HIIQ
closely monitors all sales of HIIQ products by each agency.
For 2018 to date, Simple Health was the agency of record for less
than 10% of HIIQ’s submitted policies.
HIIQ does not expect a negative financial impact relative to the
company’s recently issued guidance from the termination of its
relationship with Simple Health and remains optimistic about our
fourth quarter.
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
HIIQ’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 products offered through our platform, state regulatory
oversight and examinations of us and our carriers and distributors,
legal and regulatory compliance by our carriers and distributors,
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, and HIIQ’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 will be discussed in HIIQ's
Annual Report on Form 10-K filed with the Securities and Exchange
Commission (SEC) as well as other documents that may be filed by
HIIQ 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:
Health Insurance Innovations,
Inc.: Michael
Hershberger Chief Financial
Officer (813) 397-1187 -
mhershberger@hiiq.com
Investor Contact: John Evans
PIR Communications
(415) 309-0230 -
IR@hiiquote.com
Health Insurance Innovat... (NASDAQ:HIIQ)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Health Insurance Innovat... (NASDAQ:HIIQ)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024