Short Term Health Insurance

And Other Affordable Health Insurance Alternatives to Obamacare

November 28, 2015 09:00ET

Study Finds Premiums for Alternative Health Insurance Bought Outside Government Exchanges Average $97/month

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

MOUNTAIN VIEW, CA--(Marketwired - Oct 28, 2015) - A study released today by AgileHealthInsurance shows that 69 percent of term health insurance plans selected 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 21 percent of plan selections.

The average premiums on AgileHealthInsurance.com align well with recent news regarding premium affordability. A 2015 survey by insurance research and comparison firm HealthPocket found that $100 or less was the highest monthly premium 57 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 $97.

The average premium for AgileHealthInsurance's term health plans invite cost comparisons with the average premiums observed on HealthCare.gov, the government marketplace for privately purchased Obamacare plans. On HealthCare.gov, the health plans have broad benefits but have very different costs based on whether an individual is eligible for a subsidy. The average monthly premium for 2015 plans sold on HealthCare.gov is only $101 with subsidies, but for individuals without subsidies, the average premium is $364. In comparison, AgileHealthInsurance's average premium was 73 percent less expensive than the average premium without subsidies on HealthCare.gov.

"The government health insurance marketplace has not fulfilled the promise of lower premiums for those consumers who are not eligible for a substantial government subsidy," said Bruce Telkamp, CEO of AgileHealthInsurance. "Fortunately for consumers, the private health insurance marketplace is helping to fill this affordability gap with new term health 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 in 100 percent of term insurance plans sold on AgileHealthInsurance.com.

Term health insurance represents a distinct category of health insurance and 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. Consumer applications are approved or rejected based on health status (including the nature of pre-existing conditions). 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. The cost of term health insurance is so affordable that even for some consumers facing the tax penalty, the combination of penalty and premium is still less expensive than an unsubsidized Obamacare premium. Read the article on AgileHealthInsurance's Learning Center at www.AgileHealthInsurance.com.

AgileHealthInsurance is the internet's first site dedicated to helping consumers understand the benefits of Term Health Insurance. These new plans are the culmination of extensive research on health insurance needs in the Affordable Care Act era and consumers will be able to find the lowest prices for these plans on AgileHealthInsurance. AgileHealthInsurance also provides best-of-class plan comparison and online enrollment tools to accompany these new plans. 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.