Short Term Health Insurance

And Other Affordable Health Insurance Alternatives to Obamacare

February 19, 2015 09:00ET

With Obamacare Enrollment Over, Public Often Unaware of Premium Savings on Short Term Health Insurance

Study Finds Short Term Health Insurance premiums 66% less expensive on average than entry-level Obamacare plans

TAMPA, FL-- AgileHealthInsurance released the findings today of a study comparing the average premiums between Term Health Insurance and unsubsidized entry-level Obamacare health plans. When comparing premiums for nonsmoking men and women ages 30, 40, and 50, the study found that Term Health Insurance premiums were 66% less expensive on average than unsubsidized premiums for Obamacare bronze plans. All ages saw major pricing advantages in Term Health Insurance. 30 year-old applicants had premium quotes over 70% lower while applicants who were 50 had premium quotes over 50% lower.

The dramatic savings in premiums should be viewed in light of 3 considerations: 1) Obamacare premiums can be significantly reduced for those who qualify for subsidies, 2) Term Health Insurance premium savings should be adjusted down for the cost of the fine for not having health insurance compliant with Obamacare standards, and 3) people with poor health can be rejected for Term Health Insurance coverage.

The reasons behind the premium differences include the broader mandatory benefits of Obamacare plans and the lack of coverage for pre-existing conditions for Term Health Insurance. An overview of Term Health Insurance and its differences from Obamacare plans can be found in the article "What Is Term Health Insurance?"

Despite its pricing advantages, Term Health Insurance is often unfamiliar to consumers. A nationwide survey found only 40% of respondents were aware of Term Health Insurance as an alternative to Obamacare health plans. A separate survey found that only 31% of respondents nationwide knew that Term Health Insurance premiums were less expensive than premiums for entry-level Obamacare plans.

"Consumers who don't qualify for significant Obamacare subsidies or can't get insurance outside the enrollment period should definitely investigate Term Health Insurance," said Bruce Telkamp, CEO of AgileHealthInsurance. "For millions of people, Term Health Insurance can represent a more affordable option than Obamacare or a bridge to next year's Obamacare enrollment period."

AgileHealthInsurance is a new and independent subsidiary of Health Insurance Innovations, Inc. located in Mountain View, CA. The results of the nationwide surveys and Term Health Insurance premium study as well as their respective methodologies can be reviewed at 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.