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’s Jan Dubauskas Discusses Healthcare on Morning News Show

HIIQ Vice President and Senior Counsel Jan Dubauskas appeared on Fort Wayne’s Morning News radio show yesterday (May 1) to discuss the future of healthcare in the United States.

In the segment, titled “Universal Healthcare: what happens if it becomes reality“, Dubauskus and host Kayla Blakeslee discuss the future of universal healthcare, how it could affect the average American and the challenges we may face if a universal healthcare system is ever implemented in the U.S.

Click here to listen and learn more.

Short Term Medical Coverage Now Available for up to 36 Months

Following the release of a final rule on “short-term limited-duration” on the Federal Register, insurance carriers can now offer short term medical (STM) insurance* in term limits of up to 364 days, depending upon state availability and specific enrollment limitations.

Select carrier partners of HIIQ even offer the option to reapply for up to 36 months of STM coverage.

“This final rule expands access to additional, more affordable coverage options for individuals, including those who might otherwise be uninsured, as well as to those who do not qualify for PTCs (Premium Tax Credits) or who otherwise find individual health insurance coverage unattractive,” reads the final rule document.

“Consumers who want comprehensive, individual health insurance coverage as defined by PPACA will continue to be able to purchase such coverage on a guaranteed availability and guaranteed renewability basis in the individual market.”

Not only is this a win for consumers seeking health coverage options that fit their lifestyle and budgetary needs, but also health insurance agents and brokers that currently offer short term medical insurance to their clients.

As premiums continue to rise under the Affordable Care Act and the individual mandate penalty going away in 2019, many estimate an increase in short-term health insurance enrollment over the next year. The Centers for Medicare and Medicaid Services (CMS) estimate approximately 600,000 Americans will sign up for a new short-term medical plan next year.

Some entities project even bigger numbers. The Commonwealth Fund, a private foundation “supporting independent research on health care issues and making grants to improve health care practice and policy”, estimates that up to five million Americans could enroll in short-term coverage now that these longer term limits are now available.

As it stands today, a handful of HIIQ carrier partners offer STM plans with these new term limits (including plans with a reapply option for up to 36 months) in eligible states. HIIQ-contracted agents can now provide this option to eligible clients in need of coverage for up to 364 days.

With next-day coverage available, short term medical policies on the HIIQ platform may fit the needs of your clients who are:

  • Transitioning between employers
  • No longer able to get coverage under their parents’ policy
  • Waiting for their Medicare coverage to become effective

Call 1-877-376-5831 and select option 3 or email salessupport@hiiquote.com to learn more about HIIQ and our highly rated carrier partners that provide competitive, quality options for short-term medical coverage.

*This coverage is not required to comply with federal requirements for health insurance, principally those contained in the affordable care act. Be sure to check your policy carefully to make sure you understand what the policy does and doesn’t cover. If this coverage expires or you lose eligibility for this coverage, you might have to wait until an open enrollment period to get other health insurance coverage. Also, this coverage is not ‘‘minimum essential coverage’’. If you don’t have minimum essential coverage for any month in 2018, you may have to make a payment when you file your tax return unless you qualify for an exemption from the requirement that you have health coverage for that month. 

 

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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Final Rule Makes Short-Term Medical Insurance Renewable for Up to 36 Months

The Trump administration has issued a final rule that will allow short-term, limited-duration insurance to be purchased in increments of up to 364 days (or 12 months).

The final rule will also allow this type of insurance to be renewable with a maximum duration of up to 36 months. However, “States remain free to adopt a definition with a shorter maximum initial contract term or shorter maximum duration (including renewals and extensions) for a policy to meet their specific market needs,” according to the final rule documentation.

These new term limits will go into effect in October according to CNBC. This comes just before the 2019 Open Enrollment Period which will run from November 1 to December 15, 2018.

This follows a proposed ruling by the Department of Health and Human Services, the Department of the Treasury and the Department of Labor published for public commentary back in February of 2018. Much in line with the Trump administration’s concerns over the rising costs of health coverage today, this final ruling is expected to increase consumer choice, competition, and affordability in the individual health insurance market.

The Centers for Medicare & Medicaid Services (CMS) projects that approximately 600,000 people will enroll in short-term limited-duration plans in 2019.

Click here to view the final rule in full courtesy of the CMS. Stay tuned for updates on how this change will affect Health Insurance Innovations (HIIQ), contracted agents, brokers and the American public at large.

affordable-insurance-options-for-college-graduates

Seasons Change and So Do Coverage Needs: College Students and Recent Grads Hit the Short-Term Market

Spring is upon us – though more apparent in some parts of the country than others – and that means summer is warming up right around the corner. That also means the spring semester will end soon at colleges and universities across the country, leaving many students and recent graduates with expired health coverage.

Past reports of short-term medical enrollment have ranged widely from 160,000 to 850,0001, but that number seems likely to grow this year. Not only do summer months see college students and recent graduates flocking to the short-term market1 but public awareness of the market has also increased significantly.

A recent poll shows 31%1 of consumers polled indicated they are familiar with it and an additional 10.4%1 indicated they have used such coverage. Compare that to 7% of consumers who were aware of the coverage option in 2017, and it’s clear that continued growth is forthcoming.

Are you prepared to help this specific audience find coverage that fits their needs this summer?

Here’s how short-term medical coverage may be their solution until they can choose a longer term solution:
  • Provides flexibility in cost and length of coverage
  • Offers choice of deductible and coinsurance options
  • Delivers low copay options
  • Secures ability to cancel without penalty at any time

Understanding the needs and concerns of college students and recent graduates is imperative when helping them select coverage. According to a recent poll2, 72% expressed concern over the cost of healthcare coverage, with 40% worried about the cost of monthly premiums and 20% anxious about out-of-pocket expenses.

With that in mind, these coverage highlights are crucial to the conversation:
  • Provides wellness options
  • Often offers lower rates than traditional health plans
  • Affords a low cost layer of financial protection from rising healthcare costs
  • Offers choice of deductible as low as $250

Note that with STM, clients are not buying an ACA health plan. The following need to  be kept in mind by any prospects:

  • STM coverage does not provide the minimum essential health benefits required by the Affordable Care Act (ACA) and will not help to avoid the fee for not carrying health insurance. STM plans are not guaranteed issue, do not cover pre-existing conditions, and require a series of medical questions to be answered
  • Plans vary in what is covered, check any plans carefully prior to making a purchasing decision

In addition to college students and recent graduates, other prospective clients who are facing life-altering transition periods may find short-term medical meets their needs.

These include:
  • Pre-Medicare retirement
  • Change in employment status
  • Missed Open Enrollment
  • Rolling off parental insurance
  • Filling a gap in your major medical coverage

Are you ready to address the needs of this growing market’s diverse audiences?

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: “Poll: Spike in Short-term Health Insurance Public Awareness. AgileHealthInsurance.com.” March 14, 2018 https://www.agilehealthinsurance.com/health-insurance-learning-center/short-term-health-insurance-public-awareness-survey

 

2: “Poll: 72% of College Students and Recent Grads Have Challenges Finding Affordable Health Insurance. ” June 20, 2017. https://www.agilehealthinsurance.com/health-insurance-learning-center/student-health-insurance-survey

 

 

Help Your Clients Face 2018 with Health Benefit Insuran

Help Your Clients Face 2018 with Health Benefit Insurance

Health benefit insurance plans can help your clients find some financial accord as they face certain health concerns by providing set amounts of money for covered medical services. Also referred to as fixed cash or limited-benefit indemnity coverage, these plans provide supplemental benefits to your clients that they can use to pay medical expenses such as copays and deductibles or other expenses such as rent and daily lifestyle needs.

Value

This level of coverage can provide your clients with a wide variety of benefits in the face of accidental injuries, sickness, inpatient surgical care, outpatient care, and even pre-existing conditions (subject to waiting period.) Coverage varies from plan to plan, but health benefit insurance plans can provide little to no waiting periods with access to doctors nationwide, and benefits for critical illness and/or accidental death.

Features

Your clients can take advantage of a variety of features that help make their healthcare more accessible:

  • Freedom to choose any doctor or hospital of your clients’ choice
  • Guaranteed issue coverage
  • Low cost preventative care
  • Next day coverage or little to no waiting periods for accidental injuries or sickness
  • 12 month waiting period for pre-existing conditions

How it works

When your clients choose health benefit insurance coverage, they are choosing a type of coverage that pays them directly instead of paying healthcare providers. They simply submit a claim after a qualified medical expense and receive payment that they can use as needed. There are no deductibles to meet.

Limitations

Health benefit insurance coverage does not count as minimum essential coverage required by the Affordable Care Act and is not suitable to serve as your clients’ only medical coverage. Although the premiums may be lower than a major medical plan, the benefits are also lower and more restricted. Benefits are preset and may not necessarily be sufficient to cover the total bill for medical services received. Before recommending plans to consumers, ensure they understand what is and isn’t covered.

Help your clients take on 2018 with affordable, quality supplemental coverage today! Learn more by:

Click here to like us on Facebook for important industry updates, tips, and articles!

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 public

 

Road to Expand Short-Term Medical Offerings is Wide Open in 2018

Short-term medical (STM) coverage, a type of health insurance designed to help bridge gaps in your clients’ health coverage, offers consumers flexibility in coverage length and cost. While it does not provide the minimum essential health benefits by the Affordable Care Act (ACA), it can serve as an affordable option for those facing life-altering transition periods.

2018 and STM coverage

Because STM plans don’t have to adhere to ACA regulations, consumers “would have a wider array of options with lower monthly rates1.” Current legislative reform attempts are expected to make room for more STM plans2.  While “these policies can exclude those with pre-existing conditions or base rates on consumers’ medical history” and “offer skimpier benefits1,” major insurance carriers, including UnitedHealth and Aetna, have expressed interest in expanding their portfolios with STM offerings3:

UnitedHealth president and COO Dan Schumacher: “…we are excited to see [the regulation on STM plans that limited length of coverage] extended to the full year, because the reality is it provides a bridge for people in between coverage3.”

Aetna CEO Mark Bertolini: “We are actually looking at reenergizing a program we had prior to the ACA, but in a more on a focus of short-term, one-year kind of plan, or transition plan, versus just the skinny benefit…4.”

Who benefits from STM coverage?

This level of coverage may fit the needs of your clients who are:

  • Transitioning between jobs
  • Waiting for employer insurance to begin
  • Graduating from college
  • Rolling off parents’ coverage
  • Waiting for Medicare coverage to become effective

What are some of the features that STM plans provide?

  • Your clients can choose this level of coverage at any time in the year.
  • Your clients can choose from a variety of plans, many of which include preventive care for individuals as well as for families.
  • Because benefits are more restricted or limited, your clients can take advantage of rates that are often lower than major medical coverage.
  • Your clients can often see providers of their choice. If a provider does not file a claim for your client in office, your clients can easily submit their own claims to the carrier for reimbursement.
Disclaimer: STM coverage is 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. They can have exclusions and limitations, which may not make them a valid option for some clients.

Learn more about incorporating short-term medical coverage into your portfolio by:

Click here to like us on Facebook for important industry updates, tips, and articles!

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 public

Sources:

1: “What happened to Trump’s big plans for insurance?” WCPO.com.  https://www.wcpo.com/news/national/what-happened-to-trump-s-big-plans-for-health-insurance-?page=2

2: “From premiums to politics: 5 predictions for the health insurance industry in 2018.” Leslie Small.  https://www.fiercehealthcare.com/payer/year-preview-predictions-politics-aca-mergers

3: “UnitedHealth’s (UNH) CEO David Wichmann on Q3 2017 Results – Earnings Call Transcript.” SeekingAlpha.com.  https://seekingalpha.com/article/4114057-unitedhealths-unh-ceo-david-wichmann-q3-2017-results-earnings-call-transcript?part=single

4: “Aetna (AET) Q3 2017 Results –  Earnings Call Transcript.” SeekingAlpha.comhttps://seekingalpha.com/article/4118741-aetna-aet-q3-2017-results-earnings-call-transcript?part=single

 

Tips to Help You Talk to Your Clients About Cervical Health Awareness

Tips to Help You Talk to Your Clients About Cervical Health Awareness

The new year is here, and so is a clean slate for many of your clients as they set new goals for their health and wellness. You’re in the position to guide those clients to coverage options with features and benefits that fit their lifestyle and health needs.

You also have the opportunity to raise awareness among your clients about important health observances such as Cervical Health Awareness Month during January. It’s the ideal time to make sure your clients’ coverage addresses any concerns they or their dependents may have about cervical health and to direct them and/or their loved ones to resources related to cervical health.

The Centers for Disease Control (CDC), the National Cervical Cancer Coalition (NCCC), and the American Cancer Society (ACS) have many resources detailing how pervasive HPV and cervical cancer are.

Consider these stats:  

  • At any time, there are approximately 79 million people in the United States with HPV1.
  • There are 14 million new HPV infections in the United States each year1.
  • HPV is so common that most people get it at some time in their lives and usually causes no symptoms2.
  • If HPV does not go away on its own, there is a chance that over time it may cause cervical cancer2.
  • While the cervical cancer death rate has gone down by more than 50% thanks to the increased use of the Pap test, nearly 13,000 new cases of invasive cervical cancer are estimated to have been diagnosed in 20173.

Benefits offered by short-term medical and limited medical coverage that may be helpful to your clients worried about their cervical health include:

  • Open network of physicians, specialists, and hospitals
  • Variety of deductible and coinsurance options
  • Low copay options for in-network benefits
  • Paid benefits similar to traditional major medical plans
  • Next day coverage
  • Deductibles as low as $250
  • Relatively inexpensive premiums, but may result in lower and more restricted benefits
  • Guaranteed acceptance for some products, if eligibility is met and available in state

Short-term medical coverage or limited medical coverage may be the best fit for some of your clients. However, it’s important for you and your clients to understand these products do not replace major medical insurance, and they do not count as minimum essential coverage required by the Affordable Care Act. These products are not intended to serve as sole medical coverage. Limitations, restrictions, and exclusions may apply.

As an agent, your clients rely on your expertise to make sure they have access to affordable, quality coverage with benefits that help them face specific concerns. Take your expertise one step further by promoting awareness resources about specific health concerns such as cervical health throughout the year.

Learn more about expanding your portfolio with short-term medical and limited medical plans by:

Click here to like us on Facebook for important industry updates, tips, and articles!

Sources:

1: “Ten Things to Know About HPV and Cervical Cancer.” National Cervical Cancer Coalition. http://www.nccc-online.org/images/pdfs/10ThingsHPV_CCAM.pdf

2: “What Are the Risk Factors for Cervical Cancer?” Centers for Disease Control. https://www.cdc.gov/cancer/cervical/basic_info/risk_factors.htm

3: “What Are the Key Statistics About Cervical Cancer?” American Cancer Society. https://www.cancer.org/cancer/cervical-cancer/about/key-statistics.html

 

This blog is for agent use only – not for public distribution.

2017 Open Enrollment is Approaching Are You Ready

Open Enrollment is Approaching: Are You Ready?

Open Enrollment is just around the corner, and it’s important that you provide your clients with up-to-date details about coverage options that fit their health concerns, budget, and lifestyle needs.

If you’re enrolling clients in ACA coverage, here are some important dates to remember:

November 1, 2017

Open Enrollment Period begins

December 15, 2017

Open Enrollment Period ends

January 1, 2018

Plans sold during Open Enrollment become effective

Your clients will undoubtedly have questions about which options address their needs as well as provide affordable and quality coverage. While it is not a substitute for ACA or other major medical plans, short-term medical coverage may be an appropriate option for those who are:

  • Graduating from college and/or in need of replacing their student insurance
  • Transitioning between jobs
  • Waiting for employer insurance to begin
  • Rolling off parents’ coverage
  • Retiring soon and waiting for Medicare coverage to become effective

You may also have clients who miss the Open Enrollment period and reach out to you at that time to help them address their coverage needs. Short-term medical coverage may be an appropriate option for those clients as well.

Short-term medical plans can provide features to your clients such as:
  • Flexibility in timing of enrollment – there is not special enrollment period Preventive care for individuals as well as for families
  • Lower premiums than other types of plans
  • Access to providers of choice
  • Convenience of filing a claim in provider’s office with an additional option to submit their own claims for reimbursement

It’s important that your clients understand there are limitations associated with short-term medical plans such as restrictions for pre-existing conditions, maximum coverage periods, and restrictions on renewability. Ensure consumers fully understand the details, exclusions, limitations, and restrictions of any short-term medical plans prior to making a purchasing decision.

STM coverage is 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.

Remember: There is no special enrollment period for short-term medical plans. This may provide you more flexibility in helping your clients manage their health coverage needs.

Learn more about Open Enrollment and short-term medical coverage 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.