Health Insurance Innovations, Inc. Comments on Recent HHS Proposal and Sees No Material Impact on 2016 Results
09 Junho 2016 - 7:42PM
Health Insurance Innovations, Inc. (HII) (Nasdaq:HIIQ), a leading
developer, distributor, and virtual administrator of affordable
health plans, senior management commented on the proposed ruling
from the Department of Health and Human Services (HHS) regarding
short-term, limited-duration insurance.
“We have reviewed the proposal from the Department of Health and
Human Services and our team is working closely with our industry on
the appropriate response. The proposal was unexpected, and we
anticipate broad push-back on this proposed rule. From our
perspective, it is not clear that HHS has the authority to make
this rule. But, we take the proposal seriously and will
address the proposal in due course,” said Patrick McNamee, Chief
Executive Officer of Health Insurance Innovations. “We do not
believe that the proposed changes will materially impact our 2016
results. Health Insurance Innovations is a health care
technology platform that develops and distributes numerous
insurance products in partnership with best-in-class insurance
companies, and we will continue to address consumer needs in this
dynamic marketplace. We continue to believe in the value of
short-term, limited-duration insurance as defined in the Health
Insurance Portability and Accountability Act (HIPAA).
Short-term, limited-duration insurance is very valuable to
consumers who are uninsured during the 9 month ‘gap’ period; that
is, the period in which the Affordable Care Act open enrollment
period is closed to those who do not have a qualifying life
event. We believe short-term, limited-duration insurance
plays a critical role for consumers in order to ensure coverage
until the next ACA open enrollment,” said Mr. McNamee.
About Health Insurance Innovations, Inc.
(HII)
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. HII's data-centric, paperless business model is facilitated
by its Consumer Division that provides real-time data used to
identify opportunities and underserved needs in the health
insurance market. HII's Consumer Division includes
AgileHealthInsurance.com, a website for researching, comparing and
purchasing Term Health insurance products and HealthPocket.com, an
independently managed 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. Additional information about HII can be found at
HiiQuote.com.
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
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 Annual
Report on Form 10-K for the year ended December 31, 2015 and
subsequent Quarterly Report 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.
Health Insurance Innovations, Inc.:
Michael Hershberger
Chief Financial Officer
(877) 376-5831 ext. 282
mhershberger@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