TAMPA, Fla., Aug. 22, 2013 (GLOBE NEWSWIRE) — Health Insurance
Innovations, Inc. (“HII”), (Nasdaq:HIIQ), an industry leader in the
sale of Short‐Term Medical (“STM”) plans, today announced the
launch of Principle Advantage Limited Benefit Health Insurance with
Companion Life Insurance Co., a specialist in the employee benefit
market for over 40 years.
Principle Advantage is an impactful new addition to Health Insurance
Innovations’ Limited Benefit selections, designed for individuals
looking for affordable, fixed-benefit coverage to assist with
out-of-pocket medical expenses. Principle Advantage offers consumers
the option of selecting one of four benefit levels to pay set amounts
for doctor visits, surgery, lab work, anesthesia, ambulance, and
hospital charges. Eligible insureds are able to remain on the policy
until age 65, with benefits renewing per policy year.
“Today’s debut of Principle Advantage, a dynamic, guaranteed-issue
Limited Benefit plan, expands, enhances, and promotes Health Insurance
Innovations’ growing product portfolio to a broad and
rapidly-developing market,” said Mike Kosloske, President & CEO of
Health Insurance Innovations. “Principle Advantage helps people pay for
the medical services they need when they cannot afford or qualify for
individual major medical insurance. Plus, the product is backed by
Companion, a trusted partner and ‘A+’ rated insurance carrier.”
About Companion Life
Headquartered in Columbia, S.C., Companion Life Insurance Co. has
specialized in employee benefits since 1971. The company markets life,
dental, disability, accident, and specialty health insurance products
through a network of independent agents and brokers, general agents and
managing general underwriters. Companion Life markets its products and
services in 46 states and the District of Columbia. The company holds
an A+ (Superior) rating from A.M. Best Company.
About Health Insurance Innovations, Inc.
Headquartered in Tampa, Florida, Health Insurance Innovations, Inc.
creates customizable and affordable, high-quality health insurance
products and supplemental services through partnerships with
best-in-class carriers. We are an industry leader in the sale of
12-month short-term medical insurance plans, which provide an
economical alternative to Individual Major Medical plans. HII pioneered
and engineered its next-generation, cloud-based technology platform to
provide licensed agents, brokers, and call centers with real-time
health insurance solutions, allowing them to tailor plans to fit
consumers’ budgets and needs.
Additional information about HII can be found at www.hiiquote.com. The
reference to our website is not intended to incorporate our website
into this press release.
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 management’s current
expectations and beliefs 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 without
limitation, our ability to maintain relationships and develop new
relationships with health insurance carriers and distributors and the
risk of customer attrition; 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, competition and our
ability to compete successfully; changes and developments in the United
States health insurance system and laws, the ability to maintain and
enhance our name recognition; our ability to build the necessary
infrastructure and processes to maintain effective controls over
financial reporting; our ability to identify and complete acquisitions,
manage our growth and integrate acquisitions; potential liability for
the use of incorrect or incomplete data; interruption of our operations
due to outside sources; maintaining our intellectual property rights
and litigation involving intellectual property rights; our ability to
obtain, use or successfully integrate third-party licensed technology;
compliance with existing laws, regulations and industry initiatives and
future change in laws or regulations in the healthcare industry; breach
of our security by third parties; our dependence on the expertise of
our key personnel; and potential write-offs of goodwill or other
intangible assets. This list is not exhaustive of the factors that may
affect any of our forward-looking statements. 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
HII’s most recent Annual Report on Form 10-K filed with the Securities
and Exchange Commission as well as other documents that may be filed by
HII from time to time with the Securities and Exchange Commission,
which are available at www.sec.gov. Investors are cautioned not to put
undue reliance on forward-looking statements.
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 the 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.