HIIQ Named One of the 10 Biggest Health Insurance Stocks

In a recent article published by Yahoo Finance, Health Insurance Innovations, Inc. (NASDAQ: HIIQ) was named one of the 10 biggest health insurance stocks on the market today.

Alongside other big names like UnitedHealth and Humana, Health Insurance Innovations earned its place on the list because of its unique market position as a technology platform for purchasing and managing health insurance, life insurance, and supplemental plans.

In addition, the article cites the company’s competitive commission structure and its recent acquisition of TogetherHealth, a health care network focused on the 65+ insurance market, as big opportunities for future growth.

Click here to read the full article and learn more about the 10 biggest health insurance stocks today.

 

HIIQ Charity Bike Ride Raises Over $50,000

Last week, a team of Health Insurance Innovations executive lead by CEO Gavin Southwell embarked on a 50-mile bike ride with the hopes of attracting attention and raising funds for two children’s charities.

The annual ride, deemed the Florida 50, challenged the 14-person team as they trekked up the Pinellas coast in the mid-morning hours.

HIIQ organized this event as part of its ongoing charitable efforts in the Tampa Bay area and beyond. In the weeks surrounding the ride, employees, family and friends managed to raise over $50,000 for Bliss and St. Joseph’s Children’s Hospital.

To donate or learn more about these important children’s causes, visit the Florida 50 GoFundMe page.

health-insurance-innovations-charity-bike-ride

HIIQ Presents Florida 50 Charity Bike Ride

Health Insurance Innovations (HIIQ) is proud to present the Florida Fifty, a charity bike ride that will take cyclists on a 50-mile course across the Tampa Bay area on  Thursday, March 11.

Much like the company’s 2018 charity ride from London, a team of HIIQ executives led by CEO Gavin Southwell will hit the road in hopes of raising money for two children’s charities— St. Joseph’s Children’s Hospital and Bliss—for this year’s ride.

St. Joseph’s Children’s Hospital is a leading facility for pediatric heart and cancer care in the Tampa Bay area. Between the hospital itself and the Steinbrenner Emergency/Trauma Center, St. Joseph’s treats more children than any other hospital in HIIQ’s home city of Tampa.

As a not-for-profit health care facility, St. Joseph’s Children’s Hospital relies on the support on donors and charity events like the Florida Fifty to maintain its’ extraordinarily high level of personalized care.

Bliss was founded in 1979 by a group of parents concerned that no hospital throughout the UK had all the equipment or staff required to safely care for premature and sick babies.

Today, Bliss has grown into a renowned charitable organization that “champion[s] the right for every baby born premature or sick to receive the best care by supporting families, campaigning for change and supporting professionals, and enabling life-changing research.”

Bliss recently issued a grant to the Pediatric Neuroimaging research team at the University of Oxford’s Department of Pediatrics. This grant gave them the funding they needed to begin a three-year project with a goal of improving the measurement and treatment of pain in premature babies. Their findings could benefit babies across the globe upon the project’s completion this year.

Health Insurance Innovations has set up a GoFundMe page for the Florida Fifty. The company hopes to raise $50,000 for these vital children’s charities. If you’d like to donate to either of these causes and help HIIQ reach our goal, you can do so here.

HIIQ Expands Legal and Regulatory Compliance Team

Health Insurance Innovations (HIIQ) recently announced the addition of experienced Arizona attorney Jan Dubauskas to its legal and regulatory compliance team. Dubauskas will serve as Vice President and Senior Counsel while working closely with the company’s commercial division.

Dubauskas brings over 10 years of experience to HIIQ. She specializes in managing legal and compliance matters for life and health insurance carriers, most recently as General Counsel for IHC Specialty Benefits, Inc. A member of The IHC Group, IHC specialty benefits represents carriers that provide individual and supplemental health insurance.

“HIIQ continues to build out its first-class legal and regulatory team,” said Gavin Southwell, President & CEO of HIIQ. “With Jan’s depth and range of experience working with insurance carriers, HIIQ is taking our contract and commercial business operations to the next level.”

Dubauskas will join an expert team of legal and regulatory compliance leaders at HIIQ. She will work alongside Janis Rosenthal, HIIQ’s Regulatory Counsel and Vice President of Legal Affairs. Rosenthal joined HIIQ in 2017 and is a member of the HIIQ Executive Leadership Team who also manages the company’s veteran in-house regulatory counsel.

Head over to investor.hiiquote.com to read the full press release on the addition of Jan Dubauskas to the HIIQ team.

 

 

 

Health Insurance Innovations Multistate Examination Concludes with No Penalty or Regulatory Action

Multistate Examination Settled

On December 12, 2018, Health Insurance Innovations, Inc. (the “Company”), together with its subsidiary Health Plan Intermediaries Holdings, LLC (“HPIH”), entered into a Regulatory Settlement Agreement (the “RSA”) with the lead state regulators in the Company’s previously disclosed multistate market conduct examination. As previously disclosed, in April 2016 the Company became the subject of a multistate market conduct examination that reviewed the Company’s sales, marketing, and administration practices (the “MCE”). The MCE was joined by 43 states, including Indiana (the “Participating Jurisdictions”). The MCE is led by the insurance regulators in Indiana, Florida, Kansas, Montana, and Utah (the “Lead States”), with the Indiana Department of Insurance serving as the managing Lead State.

As stated in the RSA, the Company denies any wrongdoing or activities that violate the insurance laws, and the RSA states that the RSA shall not be deemed or construed as evidence, or an admission, or acknowledgment by the Company of any wrongdoing or liability.

To read the settlement in full, click here.

HIIQ Makes Massive Donation to Victims of Hurricane Michael

Hurricane Michael was the one of the strongest storms to hit the contiguous United States when it made landfall on Florida’s Panama City Beach on October 10, 2018.

The destruction was unprecedented—at least 60 lives lost between the United States and Central America; tens of billions of dollars’ worth of damage and extensive power outages throughout the Florida Panhandle.

Many employees at Health Insurance Innovations were left wondering what they could do to help those whose lives had been affected by this massive storm. As Floridians, many of them know what it’s like to be in the path of a hurricane. Watching the news as the threat of 100+ MPH winds move slowly to the place you call home is an all-too-real one when you live in the Sunshine State.

An email was sent asking for much-need supplies or cash donations if anyone could spare them. And, seemingly overnight, the help started pouring in from employees of HIIQ’s home office in Tampa, all the way to those working as far away as Mountain View, California. The conference room began to fill with everything from palates of water to canned goods for residents of the Florida Panhandle.

Gerod Vernon, VP of Sales at HIIQ, had planned to drive the supplies up with the help of a tractor trailer and his pickup truck but, obtaining the proper permits to drive in such dangerous conditions was virtually impossible. Not one to give up easily, Vernon came across a post on Facebook that changed all of this.

“Through the power of Facebook, a couple of friends, and a buddy who helped us find someone to come down to Tampa with an 18-wheeler, we were able to get it done,” said Vernon.

Those couple of friends included Joann and David Abraham as well as Clyde Snodgrass, who happened to know a mutual acquaintance who drove a semi-truck and was willing to come down to Tampa and back from Panama City. In fact, everyone mentioned so far grew up in Panama City before relocating to Tampa, so this was an issue that was very close to home.

“I heard firsthand how bad the devastation was after friends and family started getting cell phone service when they drove out of town to do so,” Said Snodgrass. “My parents always raised my brother and sister and I to help when necessary. They would say, ‘Having a bad day? go do something nice for a random stranger’. So, I did.”

Once Vernon heard the news, it wasn’t long before Health Insurance Innovations was onboard. Their Tampa office soon became the drop-off point for donations that would eventually go up to Panama City in the semi-truck Snodgrass had arranged. Along with CEO Gavin Southwell, HIIQ employees donated much-need supplies including generators, chainsaws, bottled water, pet food, baby supplies and more. Other Tampa Bay area businesses like Keller Williams and Berkshire Hathaway even chipped in to help with supplies that would help the hurricane victims in Panama City.

Riding through the hurricane-ravaged city in an 18-wheel truck was no easy task. The trip itself and time spent dispersing the donations in Panama City took 10 days, and that was the first of multiple trips.

“The look on people’s faces when we handed them a generator or chainsaw was worth all the stress,” said Snodgrass.

Major recovery efforts are still ongoing in the Florida Panhandle. If you’d like to help those affected by Hurricane Michael, head over to Charity Navigator for a list of great causes you can give to today.

HIIQ Sponsors First Annual Tampa Golf Classic

Earlier this month, Health Insurance Innovations (HIIQ) took part in the American Cancer Society 2018 Tampa Golf Classic at the Avila Golf and Country Club. As part of the company’s efforts to help those in need in the Tampa Bay community and beyond, this charity event was an ideal fit for HIIQ and its continual focus on health wellness.

Taking place on Monday, November 5, the tournament was the American Cancer Society’s first golf event in Tampa. HIIQ wanted to make sure their first impression was a great one with a $10,000 donation to this longstanding charity.

For over 100 years, The American Cancer Society (ACS) has fought to end cancer with the support of individuals and organizations throughout the country. With a combination of research and action, the ACS has played a vital role in helping the medical community experience a 20% decline in U.S. cancer deaths since the early 1990s.

Along with the donation, HIIQ came out to the tournament with two teams lead by CEO Gavin Southwell and CFO Michael Herschberger. Each team was joined by one local sports figure including former Tampa Bay Ray Andy Sonnanstine and Tampa Bay Buccaneer Michael Clatyon.

“The American Cancer Society is a fantastic cause and it was our pleasure to sponsor and be able to support their first golf tournament here in Tampa which has been a great success,” said Southwell.

“Having had to fight cancer myself, we hope that by giving back to causes like the ACS, we can make an impact in the ongoing fight against cancer and make the life of someone who’s been affected by this disease just a little better.”

Our Mission

Health Insurance Innovations encourages all of its employees, customers and agency partners to give back to those in need. Whether you donate online to charity or spend a Saturday serving at the soup kitchen, giving back gives purpose and hope to all lives involved. Don’t know where to start? Check out Charity Navigator to find the most efficient charity organizations in your community today!

Health Insurance Innovations Tops Fortune’s 100 Fastest-Growing Companies List

Health Insurance Innovations (HIIQ) has ranked number one in Fortune’s “100 Fastest-Growing Companies” list for 2018.

According to their methodology, Fortune ranks qualifying companies by revenue growth rate, EPS growth rate, and three-year annualized total return as of June 29, 2018. The sum of these three factors then determines where a company will rank among the 100 companies that have qualified for that year.

In a review of Health Insurance InnovationsFortune combined the company’s revenue growth rate of 46%, EPS growth rate of 256% and annualized total return of 87% over the past three years to place HIIQ in the top spot for 2018. According to these criteria, Health Insurance Innovations outranks some of the world’s most recognizable companies including Facebook, Amazon, Netflix and more.

View the full list of Fortune’s 100 Fastest-Growing Companies here. For up-to-the-minute financial news on Health Insurance Innovations, head over to investor.hiiquote.com.

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Your Clients Need These Tips for Contact Lens Health Week

From August 20-24 this year, the Centers for Disease Control’s Contact Lens Health Week highlights awareness about proper wear and care of contact lenses. This year’s message has a simple and direct message your clients need to hear: cover your butt and take care of your eyes.

According to the CDC, contact lenses are much like underwear: to avoid infections, your clients shouldn’t over-wear, they should avoid a sketchy pair, and they should carry a spare1. Sounds like common sense advice, right? When they have questions about their vision care needs, take the opportunity to remind them just how to put this advice to work1:

Don’t over-wear

Advise your clients to avoid wearing contacts longer than their eye doctors instruct them to. Also, remind them to not sleep in them (unless their eye doctors say otherwise).

Avoid that sketchy pair

Remind your clients that when a contact comes out and they can’t disinfect it with fresh solution (never water or spit) right away that they should throw it out. Also, it’s important for them to remember to not buy contacts from costume shops or anywhere that doesn’t require a prescription.

Carry a spare pair (of glasses)

Recommend that your clients have a pair of glasses with them in case an unexpected late night or trip to the pool arises.

Many carriers are now packaging vision insurance – as well as dental insurance – with healthcare insurance because they recognize the value of providing a “well-rounded offering” that focuses on preventive care2. As an insurance professional, remind your clients that vision care and preventive care can be essential to their healthcare routine and they should consider having benefits in place to help them manage costs associated with care.

Consider this:

  • Almost 90% of Americans with vision coverage will get an eye exam within the next 12 months
  • Less than 70% without vision coverage will get an eye exam
  • Almost 70% of those with coverage will also get new eyewear
  • Less than 35% of those without vision coverage will get eyewear
  • Vision care is linked to overall preventive and wellness care, but Americans only use preventive services at half the rate recommended by the CDC4.

Talk to your clients about their eye health and help the CDC increase awareness about healthy contact lens habits. Remind them that vision coverage can offer:

  • Eye exam every 12 months
  • Lenses every 24 months
  • Frames every 24 months
  • Contact lenses and fitting every 24 months
  • Low copays for exams
  • In-network savings

Are you ready to offer quality, affordable vision care to your clients?

Learn more today by:

 

Health Insurance Innovations, Inc. is a leading developer and administrator of affordable, web-based individual health insurance plans and ancillary products.

We help consumers address their health insurance needs by offering access to a number of products offered by various insurance carriers.

For agent use only – not for use with the general public

 

Sources:

1: “Contact Lenses are Like Underwear.” The Centers for Disease Control. https://www.cdc.gov/contactlenses/pdf/8-5×11-contact-lenses-underwear.pdf

2: “Popular vision benefits moving beyond commodity product label.” Employee Benefit Adviser. https://www.employeebenefitadviser.com/news/popular-vision-benefits-moving-beyond-commodity-product-label

 

3: “Evidence Links Vision Benefits to Healthy Vision Habits, NAVCP Reports.” Vision Monday. http://www.visionmonday.com/latest-news/article/evidence-links-vision-benefits-to-healthy-vision-habits-navcp-reports-1/

 

4: “Dental and vision trends focus on preventive care.” BenefitsPro. https://www.benefitspro.com/2018/06/11/dental-and-vision-trends-focus-on-preventive-healt/?slreturn=20180714110145

 

4 Common Misconceptions to Clear Up for Your Clients About Health Benefit Insurance

Your clients come to you with a broad range of health concerns and ask for a personalized approach to help them manage those concerns.  It’s crucial to your success that you listen to and understand those needs and that you have a variety of coverage options to offer them.

One of those options often prompts questions and discussions of myths and misconceptions: health benefit insurance plans – also known as limited benefit medical plans or fixed cash plans. HBI plans provide a fixed benefit payment for specific covered services. They can provide a range of benefits to help meet your clients’ needs, but they have distinct differences from the major medical policies.

Healthcare costs are undoubtedly rising. Your assistance in providing your clients coverage that fits their needs can impact how they are able to manage their healthcare spending. This type of coverage can often be misunderstood, prompting your clients to ask questions about how the plans work and how they can benefit from such a plan. HBI coverage can be a viable option, but it’s imperative to understand your clients’ needs and to make sure they understand how the coverage works before enrolling them.

Let’s take a look at some common misconceptions about health benefit insurance coverage:

Misconception #1: Health benefit insurance plans work the same way as major medical or short-term medical insurance.

HBI insurance plans have some significant differences from major medical policies. Helping your clients understand these differences can allow them to decide if this type of coverage will be helpful as they consider their healthcare realities.

These plans pay fixed indemnity benefits towards covered procedures as well as offer discounted rates for using in-network providers. They can provide flexibility for those who need to supplement their major medical coverage.

When discussing health benefit insurance plans with your clients, remind them that they have no deductibles or copays to satisfy, and let them know that their fixed cash benefits and in-network discounts can combine to bring them additional savings. Clients must also understand the plans are not a replacement for major medical insurance. Policies do have limitations, restrictions, and exclusions to consider.

Misconception #2: Health benefit insurance plans don’t provide quality benefits and have a small network of doctors.

HBI insurance plans often have lower premiums than major medical plans since they are not providing comprehensive coverage. That said, they may still provide members with a host of benefits to help with their medical needs.

The core benefits offered by health benefit insurance plans can include fixed benefit payments for the following services:

  • Hospitalization*
  • Emergency care*
  • Doctor’s office visits
  • Surgery*
  • Diagnostics and labs
  • Wellness

*Typically not covered for pre-existing conditions

This level of coverage can also come with a wide network of doctors nationwide. If the doctor your client chooses does not accept the insurance, your client can opt to pay upfront and then submit her own claims for reimbursement. Remind her though she may be subject to higher out-of-pocket costs if she goes this route.

When your clients enroll in HBI plans, they may also have the option to take advantage of other non-insurance healthcare features as well.

These may include:

  • Prescription savings program on generic and brand-name medications
  • Ability to speak to a licensed doctor over the phone or mobile app to diagnose common illnesses
  • Patient advocacy service that can help your clients find procedures for the lowest cost and can negotiate medical bills

Keep in mind that there are often exclusions with health benefit insurance plans that are important for your clients to consider before they enroll.

Exclusions may include:

  • Pre-existing conditions (12-month waiting period)
  • Prescription benefits
  • Maternity benefits

Make sure your clients are aware of how to leverage our online Member Portal. This includes knowing how to log into the portal, where to access their ID cards, and how to reach out to the different parties who can help them with questions about benefits, billing, claims, etc.

Misconception #3: Health benefit insurance plans are only beneficial for young people or as supplementary insurance.

HBI insurance plans can benefit clients of all ages with varying medical needs.

While this level of coverage is designed to be supplementary to major medical policies, members can use them in a variety of circumstances.

This type of coverage may fit the needs of those who:

  • Are priced out of major medical coverage, but seek a limited level of coverage for basic healthcare needs
  • Want additional benefits to help cover deductibles and copays of a major medical policy
  • Are seeking limited coverage until they are eligible for a major medical policy during Open Enrollment or through their employer

Note: Health benefit insurance plans are not intended to be a replacement or alternative to ACA or other major medical plans nor does it provide the minimum essential health benefits that are required, and it won’t help to avoid the fee for not carrying health insurance. These plans can have exclusions and limitations, which may not make them a valid option for some clients.

Misconception #4: Health benefit insurance plans can satisfy ACA requirements.

Fixed benefit insurance plans do not meet the minimum essential coverage required under the Affordable Care Act, so your clients would likely be subject to a tax penalty. Because they do not have to follow the guidelines for the ACA, premiums tend to be lower as more limited and/or restricted benefits are being offered. Still, these plans can be useful solutions for some who may need to supplement a high-deductible plan or who may otherwise go completely uninsured.

 

Are you ready to help your clients learn more about health benefit insurance plans?

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Health Insurance Innovations, Inc. is a leading developer and administrator of affordable, web-based individual health insurance plans and ancillary products. We help consumers address their health insurance needs by offering access to a number of products offered by various insurance carriers.

Source:

“The Rising Cost of Health Care by Year and Its Causes.” The Balance. https://www.thebalance.com/causes-of-rising-healthcare-costs-4064878