Health Insurance Innovations, Inc
) in association with Indiana based HCC Life Insurance Company- a
HCC Insurance Holdings Inc.
), recently introduced a new short-term medical plan (STM)
HealtheMed STM is designed to cater customers in need of a
short term affordable medical coverage. With maturity spanning
from six to eleven months, the plan targets newly employed
individuals, early retirees, recently naturalized citizens,
personnel in-between jobs, and recent college graduates. The
customizable, superior quality and affordable attributes of the
plan will attract more customers which we expect to elevate
revenues going forward. The new policy will be launched in 45
states across the U.S.
With the implementation of the Affordable Care Act in 2014,
Health Insurance Innovations is expecting increased competition
as demand for health insurance increases. A number of new
entrants in the health insurance market or a product portfolio
expansion of existing players is likely. Thus with ACA execution
at the doorstep, launch of the HealtheMed plan will secure the
company's competitive position.
In order to fortify its short-term medical plan portfolio,
Health Insurance Innovations had previously introduced HIIQuote's
'Options Page' in May 2013. This page allows easy bundling of
Short-term medical plans and HII's ancillary products. It will
allow customers to select policies from a suite of options and
benefit levels that satisfy their budget.
On the same date, Health Insurance Innovations partnered with
) and Nationwide Insurance to provide two new ancillary products
- Cash Advantage Critical Illness and Foundation Dental,
However, the company will have to check rising operating
expenses so as to not mar the top-line strength and consequently
pressurize margins. We currently have a Zacks Rank #4 (Sell) on
Health Insurance Innovations. Among other favorable names,
StanCorp Financial Group Inc.
) carries a Zacks Rank #1 (Strong Buy) and appears
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