Health Insurance Innovations, Inc. Announces Preliminary Record 2013 Premium Equivalents Driven by Strong Fourth Quarter Sale...
09 Janeiro 2014 - 9:35PM
Health Insurance Innovations, Inc. (Nasdaq:HIIQ) ("HII" or
"Company"), a leading developer and administrator of affordable,
cloud-based individual health insurance plans and ancillary
products, today announced that it expects to report that growth in
premium equivalents totaled 30% to 32% for the year ended December
31, 2013, which is in the upper end of the Company's guidance
range. Premium equivalents are a non-GAAP financial measure used by
the Company to manage its performance and are defined as the total
collections from customers for all health and ancillary policy
types, including premiums, enrollment fees and discount benefit
charges.
Mike Kosloske, Chairman and CEO of the Company commented, "As
expected, demand for our affordable insurance products continued to
accelerate during the Affordable Care Act's open enrollment
period. For the entire fourth quarter, total submitted
applications increased more than 50% compared to the fourth quarter
of 2012, which positions us favorably for 2014."
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
the Company's current assumptions, expectations and belief 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, 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 Annual Report on
Form 10-K for the year ended December 31, 2012 and subsequent
Quarterly Reports on Form 10-Q, all as 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 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.
CONTACT: Health Insurance Innovations, Inc.:
James Dietz
Chief Financial Officer
(877) 376 5831 ext.292
jdietz@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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