Survey: Fewer than 1 in 5 Americans Knows Enrollment for 2015 Obamacare Plans Has Ended
New website will address consumer information and marketplace coverage void
TAMPA, Fla.-- Health Insurance Innovations, Inc. (NASDAQ: HIIQ), a leading developer of affordable health plans, released the results of a nationwide poll that surveyed Americans' awareness that health insurance may no longer be purchased on exchanges for 2015 without special qualifications. The survey asked, "When is the last day any consumer can buy health insurance on a government exchange that will provide coverage during 2015?" The poll found that less than 1 in 5 Americans knew that the enrollment period for Affordable Care Act plans had ended on February 15th. Nearly 3 out of 5 Americans responded, "I don't know."
To read the full results of the survey as well as its methodology, see AgileHealthInsurance.com's report "Consumers and the End of the 2015 Annual Enrollment Period."
The poll results indicate that most Americans are unaware that the Affordable Care Act health insurance market has entered into a 'lock-out period' where consumers may no longer buy coverage for 2015 unless they have a special life event such as the birth of a child or the loss of employer-based health coverage. The special enrollment period, limited to those who incurred the uninsured tax penalty for 2014, will expire on April 30th.
Health Insurance Innovations (HII) is responding to the consumers' predicament during the lock-out period by launching AgileHealthInsurance.com, a website that will provide low-cost alternatives and supplements to Obamacare health plans. AgileHealthInsurance.com will specialize in offering an alternative to Obamacare called Term Health Insurance plans. Term Health Insurance offers traditional health benefits for a defined period of time, from 30 to 364 days in most states. These policies are known for very low prices, they can be bought anytime during the year, and an applicant's health is taken into consideration during the application approval process. For more information on Term Health Insurance, see the article "What Is Term Health Insurance?"
"A key part of our AgileHealthInsurance mission to is to raise awareness about the lock-out period in the ACA market, and to provide a high quality and low-cost health insurance solution for those affected by this lock-out," said Bruce Telkamp, CEO of HII's Consumer Division. "We are excited to confirm that our product development is on schedule, and we expect to formally launch our initial version of AgileHealthInsurance.com after the conclusion of the tax period special enrollment period."
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.