Short Term Health Insurance

And Other Affordable Health Insurance Alternatives to Obamacare

August 26, 2015 09:00ET

CONSUMERS UNHAPPY WITH OBAMACARE SEEK ALTERNATIVES

Two Years Into Obamacare, More Consumers Opting for Short Term Health Insurance

MOUNTAIN VIEW, CA -- As a large percentage of enrollees express dissatisfaction with their Obamacare coverage, AgileHealthInsurance.com is seeing growing interest in term health insurance plans. For millions of people, term health insurance plans can represent a more affordable option than Obamacare or a bridge to this year's Obamacare enrollment period.

Dissatisfaction among Obamacare enrollees is a significant health care issue. According to a recent study from the Deloitte Center for Health Solutions, only 30 percent of Obamacare exchange enrollees are satisfied with their current plans. This satisfaction level is significantly lower than satisfaction levels among enrollees in employer health plans, as well as enrollees in Medicare and Medicaid.

Price is a key driver of dissatisfaction with Obamacare plans. According to the Deloitte survey, 35 percent of dissatisfied Obamacare marketplace enrollees felt they were paying too much for their plan. In addition to making premium payments, enrollees in Obamacare plans can also pay high deductibles unless they qualify for cost-sharing subsidies or pay for a high-end gold or platinum plan.

Consumers also complain their Obamacare plans do not include broad enough provider networks. A study by Avalere recently revealed that Obamacare plans offered on exchanges created by the Affordable Care Act have 34 percent fewer providers than commercial plans offered outside exchanges. If consumers' preferred doctors or hospitals are out of network, they face the possibility of paying full price to see them.

In response to Obamacare dissatisfaction, some consumers are turning to term health insurance plans. Term health insurance premiums for 30-year-olds, for example, are over 70 percent less expensive on average than premiums for unsubsidized Obamacare bronze plans. Moreover, term health plans are known for very wide provider networks. Enrollment in these plans can be done throughout the year, as opposed to predefined enrollment periods.

"We have seen a steady rise in consumers shopping for term health insurance plans," said Bruce Telkamp, CEO of AgileHealthInsurance.com. "The popularity of term health insurance is increasing as consumer awareness of its cost advantages becomes better known."

It is important for consumers to know term health insurance represents a distinct category of health insurance and has unique characteristics differentiating it from Obamacare coverage. Consumers have to apply, and, depending on their health status (including pre-existing conditions), they can be rejected. Additionally, with term health insurance, consumers may still be subject to the Obamacare Tax. There are exemptions to the tax, however, and even if consumers do have to pay it, they may still save money with term health insurance.

AgileHealthInsurance.com provides a free rate comparison tool that allows consumers to review plans, benefits and costs online. They also can enroll online if they find a plan that meets their needs. For more information on term health insurance as an alternative to Obamacare, see the article "Consumers Unhappy with Obamacare" on AgileHealthInsurance's Learning Center.

CONTACT:
Kevin McVicker,
(703) 739-5920


AgileHealthInsurance.com was launched in 2015 to educate consumers on the availability of private market health insurance products that are alternatives to Affordable Care Act (Obamacare) plans. Today AgileHealthInsurance is the largest distributor of short-term health insurance, providing a fast, online process for purchasing these plans. Short-term health insurance is a flexible and low-cost major medical insurance for individuals without expensive pre-existing health conditions. It is not Obamacare. Short-term health plans offer consumers the flexibility to choose health plans with the benefits that matter most to them and combine these benefits with broad provider networks. Additional information about AgileHealthInsurance can be found at www.AgileHealthInsurance.com.

Forward-Looking Statements

AgileHealthInsurance.com is a Silicon Valley-based technology company and independently managed division of Health Insurance Innovations, Inc. (NASDAQ: HIIQ). 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 our 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, competition, changes and developments in the United States health insurance system and laws, and our 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 HIIQ'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 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.