MIAMI and NEW YORK, Jan. 18, 2017 /PRNewswire/ — HealthCare.com, a leading privately-owned consumer shopping website for healthcare insurance and Medicare plans, announced today that in 2016 its technology platforms connected over 2 million consumers to its network of licensed insurance brokers, insurance carriers and licensed web-based entities, representing a 240% growth over 2015.
HealthCare.com does not sell insurance. Instead, it connects consumers directly to insurance carrier websites, web-based insurance brokers and to brokers who can service consumers over the phone. Despite a growing number of online enrollments through the marketplaces, data from HealthCare.com’s internal metrics indicate that many consumers still prefer to talk to and work through a licensed broker.
“Consumer demand for health coverage is continuing to be robust, as evidenced by a record number of Americans looking to find a new health plan or replace the one they have,” said Howard Yeh, co-founder and Chief Executive Officer of HealthCare.com. “Notwithstanding the uncertainty of current healthcare regulation, there are large segments of the population that buy their own coverage. The demand for affordable health insurance options in the individual and senior segments are growing, not shrinking.”
In 2017, HealthCare.com will continue to build more tools and services that allow consumers to be smarter about their healthcare decisions. In addition, HealthCare.com will more actively engage with its large database of known individual healthcare shoppers, presenting unbiased advice, sponsored content and direct promotions that are tailored to the unique needs of each consumer.
The HealthCare.com website was originally launched in 2007, before The Affordable Care Act came into law and before healthcare.gov came into existence. In 2014, the current HealthCare.com management team raised $9.5 million in funding from an investment group led by PeopleFund, Jeff Boyd (chairman of The Priceline Group), and former key executives from Priceline.com and Booking.com.
“HealthCare.com believes that policy changes will not change the demand from consumers in the individual market who have to shop on their own for affordable health insurance options,” said Jeff Smedsrud co-founder of HealthCare.com and insurance industry veteran. “There may be an opportunity to learn from other industries, like travel and consumer electronics. Allow a wide variety of choices, give consumers the opportunity to tailor their own plans and help them design their own ‘insurance itinerary’ to fit their budget and needs. In time, market forces will push the industry toward less complexity and better solutions, and consumers will be better shoppers of healthcare.”
HealthCare.com was recently recognized by the Deloitte Fast 500 as one of top 500 private and public technology companies in North America (ranked #99 for 2016), and was ranked #6 on the Inc. 500 list in the insurance category. In June 2016, HealthCare.com was also honored as a Red Herring North America 100 for 2016 for its technology achievements.
HealthCare.com is an online quoting service and comparison-shopping website that connects consumers looking for new healthcare coverage with insurance brokers and carriers who can serve them. As a web property, HealthCare.com has grown into one of the most-visited online health insurance destinations. Using interactive tools and innovative technology, HealthCare.com continues to grow its services to help consumers compare health insurance costs and subsidies, while using intelligent bidding and routing rules to match them to licensed agents at national call centers, web-based entities or directly with a carrier. HealthCare.com currently serves the individual health insurance market (which includes ACA plans and non-ACA coverage plans), and the senior market with Medigap and Medicare Advantage coverage options. HealthCare.com‘s search application features an expansive inventory of state-based exchange plans, federal exchange plans, many private, off-exchange plans and options for Medicare-eligible consumers. HealthCare.com is based in Miami, FL. For more information, visit www.healthcare.com.