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Health Insurance Innovations, Inc. Announces Small Group Health Insurance Initiative to Make Transition From Group to Individual Plans Easy

TAMPA, Fla., Nov. 4, 2014 (GLOBE NEWSWIRE) -- Health Insurance Innovations, Inc., "HII" (Nasdaq:HIIQ), a leading developer and cloud-based administrator of affordable health insurance plans, ancillary products, and research-driven consumer health insurance plan shopping tools, today announced the launch of the HII Velocity Partner Program for small group insurance brokers and employers.

In the wake of ACA provisions, many small business owners are comparing the costs and benefits—for both themselves, and their employees—of dissolving their small group insurance plans in favor of individual plans, sometimes supported by an employer contribution. HII is prepared to help them.

The HII Velocity Partner Program is a turn-key program providing small group brokers and employers with two valuable cost saving services; an online tool to quickly compare cost savings potential and licensed enrollment specialists available to help employees select a plan and guide them through the enrollment process.

In just a few clicks, the online Velocity ExpressQuote provides a comprehensive, unique comparison of all plans available to employees of a business. This objective comparison provides employers with specific detailed cost savings based on their actual employee census. Once employers determine their defined contribution strategy, the HII Velocity Partner Program provides one-on-one consulting with licensed insurance enrollment specialists for enrollment in on-or-off exchange individual plans.

"Quick and accurate presentations of the advantages of individual plans represent an important initiative to help employers and employees understand their best options in the post-ACA insurance ecosystem. This is a win-win for both employers and employees," said Mike Kosloske, CEO of Health Insurance Innovations. "Small business owners can save upwards of 60 percent from what they're paying for group health insurance and employees will have access to more affordable, and often more comprehensive coverage than the group plan."

Insurance plans sold to small businesses represent $220 billion of the $1.3 trillion dollar health insurance market. 1 For more information about the HII Velocity Partner Program and Velocity ExpressQuote, please see velocityexpress.hiiquote.com

1 Source: CMS, Kaiser Foundation, EBRI and CBO (2010 data)

About Health Insurance Innovations, Inc.

Health Insurance Innovations, Inc. (HII) develops affordable, high-quality health insurance products through partnerships with best-in-class insurance carriers, distributed through licensed insurance agents as plan configurations customized for the individual consumer. These transactions take place via the industry's first virtual administrator, an entirely cloud-based proprietary process —Quote-Buy-Print— providing proof-of-coverage to insured in minutes rather than weeks. HII is a data-driven digital business informed by its consumer division. HII's consumer division includes HealthPocket.com's Research & Data business, the largest repository (of any kind) of health insurance information and HealthPocket.com, the only online resource that offers consumers one-click access to unbiased rankings of all available health-insurance plans. Additional information about HII can be found at hiiquote.com.

CONTACT: Media Contact: Kevin Pchola Zeno Group 212 299 8950 kevin.pchola@zenogroup.com Investor contact: Susan Noonan S.A. Noonan Communications, LLC (212) 966 3650 susan@sanoonan.com

Source:Health Insurance Innovations

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