Health Insurance Innovations Launches HIIQuote’s New ‘Options Page’ to Enable Easy Bundling of Short-Term Medical Plans and Ancillary Benefits

GlobeNewswire

TAMPA, Fla., May 15, 2013 (GLOBE NEWSWIRE) -- Health Insurance Innovations, Inc. ("HII" or the "Company") (Nasdaq:HIIQ), today announced the launch of HIIQuote's 'Options Page' allowing agents to easily bundle Short-Term Medical (STM) Plans with HII's suite of complementary, ancillary products. The new 'Options Page' enables agents to present individual options and benefit levels to meet the coverage and budget needs of their customers while providing a real-time pricing review of all bundled options.

HIIQuote also features two new ancillary products offered through arrangements with Cigna and their insuring companies and Nationwide Insurance. HII will feature the 'Cash Advantage Critical Illness' product insured by Loyal American Life Insurance Company and administered through Cigna Supplemental Benefits division in Austin, Texas. This product is offered through Cigna Individual and Family Plans. Cash Advantage provides lump sum cash benefits following the diagnosis of a critical illness which may help ease the financial issues that arise when diagnosed with a critical illness. HII and Nationwide's 'Foundation Dental' offers the flexibility of three plan options and the ability to select a dentist from one of the largest PPO networks in the country. Together, the two products increase an agent's ability to complement a consumer's short-term medical plan, and the ease of bundling products on the new 'Options Page' provides a transparent experience for the agent and consumer alike.

"The launch of HIIQuote's new 'Options Page' reflects our commitment to provide agents with a state-of-the-art technology platform to support sales of our innovative health insurance products customized to the needs of their customers," said Michael Kosloske, president and chief executive officer of HII. "The addition of these two new products through arrangements with best-in-class carriers like Cigna and Nationwide increase the depth and scope of ancillary benefits we can offer agents to complement short-term medical plan sales."

About Health Insurance Innovations, Inc.

Headquartered in Tampa, Fla., Health Insurance Innovations (Nasdaq:HIIQ) is a leading developer and administrator of affordable, web-based, individual health insurance plans and ancillary products. We are an industry leader in the sale of 12-month short-term medical insurance plans, which provide an economical alternative to Individual Major Medical plans, while offering similar benefits. Our highly-scalable, proprietary, cloud-based technology platform allows for simplified online enrollment and mass distribution of our large and diverse portfolio of affordable health insurance offerings, providing consumers immediate access to our products through trusted distribution partners - Anywhere. Anytime.

Additional information about HII can be found at www.hiiquote.com. The reference to our website is not intended to incorporate our website into this press release.

About Cigna

Cigna Corporation (NYSE:CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided by or through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America and Cigna Life Insurance Company of New York. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. Cigna maintains sales capability in 30 countries and jurisdictions, and has approximately 78 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.

About Nationwide

Nationwide Mutual Insurance Company, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor's. The company provides customers a full range of insurance and financial services, including auto insurance, motorcycle, boat, homeowners, pet, life insurance, farm, commercial insurance, annuities, mortgages, mutual funds, pensions, long-term savings plans and specialty health services. For more information, visit www.nationwide.com.

Forward-Looking Statements

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 management's current expectations and beliefs 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, competition, changes and developments in the United States health insurance system and laws, the ability to maintain and enhance our name recognition 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 and will be discussed in HII's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission as well as other documents that may be filed by HII from time to time with the Securities and Exchange Commission.

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 the 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.

CONTACT: Health Insurance Innovations, Inc.:          Michael Hershberger          Chief Financial Officer          (877) 376-5831 ext. 313          [email protected]           Investor Contact:          Susan NoonanS.A. Noonan Communications, LLC          (212) 966-3650          [email protected]           Media Contact:          Andreas Marathovouniotis          Russo Partners, LLC          (212) 845-4235          [email protected]