Short Term Health Insurance

And Other Affordable Health Insurance Alternatives to Obamacare

November 10, 2016 09:00ET

Premiums for Alternative Health Insurance Bought Outside Government Exchanges Average $103 a Month

As Obamacare Premiums Rise, Short Term Health Insurance Plans Help Fill Affordability Gap

MOUNTAIN VIEW, CA--(Marketwired - Nov 10, 2016) - New data released today by AgileHealthInsurance.com shows that 65 percent of term health insurance plans purchased by consumers on its website had monthly premiums of $100 or less. Plans with monthly premiums of more than $100 but at most $200 were also popular, accounting for 23 percent of health plan selections.

The average premiums on AgileHealthInsurance.com align well with recent news regarding premium affordability. A November 2016 survey by insurance research and comparison firm HealthPocket found that $100 or less was the highest monthly premium 52 percent of adults nationwide could afford to pay for health insurance. The average monthly premium for term health insurance plans selected on AgileHealthInsurance.com was $103. The findings are based on term health insurance plans purchased by consumers between Jan. 1, 2016, and Nov. 7, 2016, on AgileHealthInsurance.com that had a duration of at least 30 days.

The average premium for term health plans available on AgileHealthInsurance.com invite cost comparisons with those observed on HealthCare.gov, the government marketplace for Obamacare plans. Obamacare plans have broad benefits but have very different costs based on whether an individual is eligible for a subsidy. For 2016 plans on HealthCare.gov, the average premium with subsidies included is only $106. However, in the absence of subsidies, the average premium is $386. Consumers on AgileHealthInsurance.com paid 73 percent less than the average premium without subsidies on HealthCare.gov.

"Obamacare premiums have increased an average of 25 percent this year, making finding an affordable plan more difficult," said Bruce Telkamp, CEO of AgileHealthInsurance.com. "Fortunately for consumers, the private health insurance marketplace is helping to fill this affordability gap with term health insurance and other emerging insurance products."

Term health insurance plans are a compelling alternative for dissatisfied Obamacare consumers who struggle with the cost of those plans. Term insurance plans have broader provider network coverage than most Obamacare plans so enrollees can go to most doctors and still be covered. Out-of-network coverage is available for term insurance plans sold on AgileHealthInsurance.com.

Term health insurance is a form of major medical insurance that provides coverage in case of illness or an accident for a set period of time. Term health insurance does not provide identical coverage as Obamacare plans, and benefit and eligibility differences contribute to the cost savings observed. Consumers apply and, depending on their health status (including pre-existing conditions), they may or may not be eligible for specific plans. Additionally, with term health insurance, consumers may still be subject to the Obamacare Tax unless they qualify for one of several exemptions from the tax. Term plans often include co-pays and deductibles that parallel Obamacare plans, as well as lifetime maximums of $1 million or more.

AgileHealthInsurance.com was created to educate people about the availability of affordable alternatives to Obamacare, including term health insurance, and provide a fast, online process for purchasing these plans. Term health insurance is a flexible and low-cost major medical insurance for individuals without expensive pre-existing health conditions. It is not Obamacare. 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

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.