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Millennial Health Insurance Sales On The Upswing

Nov 20, 2018

Millennial Health Insurance Sales On The Upswing

Insurance Regulation Reform Putting Policies Within Reach

MOUNTAIN VIEW, Calif., Nov. 20, 2018 /PRNewswire/ -- The Open Enrollment Period has been upon us for over two weeks, and the Trump administration recently reported that demand is down about 20% on Healthcare.gov from last year.  However, sales among customers in their thirties are on the rise.

AgileHealthInsurance.com CEO Gavin Southwell observed, "This year, the average age of our members decreased to a year younger than our average last year (from 39 to 38), suggesting that young people increasingly understand the need to be insured."

Millennials have had a higher uninsured rate than most other demographic groups, so improvement there is an overall positive. "The central issue, despite reports of some premium decreases this year, remains that Affordable Care Act (ACA) premiums overall are still too high," Mr. Southwell commented.  "We see many Millennial consumers doing the responsible thing and buying health insurance. It just has to be affordable," Mr. Southwell said.

"It is time for rationalization in the individual health insurance market.  Affordable Care Act approved plans will always offer the most comprehensive coverage, but so many consumers, old and young, cannot afford them, so short term health insurance remains an important element for getting everyone insured," Mr. Southwell stated.

Affordability remains a challenge, as a 30-year-old female looking for a 2019 plan in Illinois will find the least expensive ACA plan with a $6,000 deductible costing $291.57 per month. A short term health insurance plan with a $5,000 deductible will cost this same individual $110.55 per month.

AgileHealthInsurance.com remains committed to helping Americans find the insurance plans that work for them and their budget. Although the law change will allow people to go without insurance this upcoming year, everyone needs to have insurance and should take a little time this Thanksgiving weekend to do so.

AgileHealthInsurance.com was created to educate people about the benefits of short-term health insurance and provide 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.

AgileHealthInsurance 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.


Cision View original content:http://www.prnewswire.com/news-releases/millennial-health-insurance-sales-on-the-upswing-300753808.html

SOURCE AgileHealthInsurance.com

Kevin McVicker, kmcvicker@sbpublicaffairs.com, (703) 739-5920 (office), (703)727-9537 (mobile)