HealthPocket Launches Pulse Survey Series
Pulse Survey Series to Sample Market Consumer Buying Trends in Medical Coverage
46.7% of Customers Surveyed Have No Coverage Available Through Their Employer
Mountain View, Calif, July 9, 2019, HealthPocket, a free information source designed to help consumers find medical coverage, today released results of a pulse survey consisting of data collected by AgileHealthInsurance.com, the online leader for short term medical insurance. The study is the first in a series of new pulse surveys, which will be periodically issued to provide insights into the buying trends of the Company’s current and future customers.
Jan Dubauskas, Vice President and Senior Counsel, Health Insurance Innovations, said: “The findings suggest that Short Term Medical Insurance is not being used by consumers to as an alterative to ACA plans, but rather as a way to get quality health coverage on an interim basis when they do not have an affordable option elsewhere. Almost half of the survey participants were no longer covered by their employers and recognized their need to secure coverage with a Short Term Medical Plan offered by HIIQ. In general, our customers are staying on a Short Term plan for longer periods of time, and they remain on these plans only until another affordable option presents itself. As such, our Company is filling a critical need for many uninsured or underinsured Americans.”
Findings From Pulse Survey:
Why were you searching for a Short Term Medical Plan?
|I had no coverage available through my employer or I am not yet eligible for benefits.||46.07%|
|I was not eligible for an ACA/ Obamacare plan||7.87%|
|I felt that ACA/ Obamacare plans were too expensive||31.46%|
|I left my company before I was eligible for COBRA and needed to fill the gap.||3.37%|
|I retired early and I need an affordable insurance option to bridge me to Medicare||11.24%|
What type of health coverage did you have previously to AgileHealthInsurance?
|Individual ACA plan||18.11%|
|Other short term medical plan||12.60%|
|No health insurance||18.90%|
HealthPocket is a free information source designed to help consumers find medical coverage. Whether you are looking for Medicare, Medicaid or an individual health insurance plan, we will help you find the right healthcare option and save on your out of pocket healthcare costs. We receive our data from government, non-profit and private sources, and you should confirm key provisions of your coverage with your selected health plan. If you select a plan presented on our site, you will be directed (via a click or a call) to one of our partners who can help you with your application. Our website is not a health insurance agency and not affiliated with and does not represent or endorse any health plan. HealthPocket, Inc. is a wholly owned subsidiary of Health Plan Intermediaries Holdings LLC (NASDAQ: HIIQ)
The survey was conducted via two means. First, an online survey was sent to all adult Short Term Medical customers who were active as of 05/19/2019. From that set, we had a 1.03% response rate. Simultaneously, the survey was conducted over the phone when customers called in to apply over the period of 5/20 until present.
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.