Start-up continues to shake up the $1 trillion health insurance marketplace with 400% year-over-year increase in customer connections
NEW YORK, Feb. 4, 2016 /PRNewswire-iReach/ — HealthCare.com, a leading consumer search engine for individual health insurance plans, announced today that it experienced record growth during its second-ever open enrollment period, which ended January 31st. Launched in 2014, the privately owned HealthCare.com has emerged as one of the most-visited online health insurance destinations. During the three-month period of the 2016 Obamacare open enrollment, HealthCare.com connected almost one million health insurance-seeking consumers with health insurance carriers, brokers and exchanges, which in aggregate represented a year-over-year growth of approximately 400%.
“Our record growth was due to a combination of growing consumer demand, enhancements made to our proprietary comparison tools, and importantly, our ability to identify and nurture in-market health insurance consumers. The end result is a better way to match consumers with those who can enroll them in the health plans that fit them best,” said Howard Yeh, President of HealthCare.com. “Our commercial partners find that we can deliver new members at an attractive cost per enrollment, making us a cost-effective online acquisition channel at a time when insurance carriers are adapting to the new economics under the Affordable Care Act.”
“In the coming months, we will expand the initial approach we’ve taken in the Obamacare market into the growing senior health insurance market, while continuing to improve tools, data and features for under-65 health insurance consumers. In the end, we measure ourselves on how successfully we deliver value to users seeking healthcare coverage,” Yeh continued.
Through its proprietary search, comparison and recommendation tools, HealthCare.com provides healthcare consumers with:
- An intuitive web interface to search and discover a broad selection of individual health insurance plans from over 200 carriers, and more than 120,000 plans in all.
- Access to all of the state-based exchange plans, federal exchange plans, and many private, off-exchange plans – unlike the federal website and other state-based exchanges.
- Providing decision-support in selecting the right health plan through an innovative, unbiased plan recommendation engine.
- Connection to the leading health insurance brokers, certified web-based entities, and to insurance carriers, all of whom compete using HealthCare.com’s proprietary matching logic to create the best outcome for consumers.
For advertising and fulfillment partners, HealthCare.com offers to health insurance brokers, carriers and healthcare exchanges a highly efficient channel to sell their products and services to a targeted audience focused on the purchase of healthcare. In addition, the company rolled out in October 2015 a proprietary ad platform called HealthCare.com Featured Ads built for advertisers to target and segment consumers actively searching HealthCare.com. The platform enables users to pick the carrier that offers health plans that fit them best, while allowing different ways to facilitate the enrollment: a) directly on the carrier’s website, b) through that carrier’s in-house contact center, or c) emailing the application directly to the prospective customer.
Privately held HealthCare.com is a leading consumer search engine that serves individuals seeking health insurance to search, compare and connect with licensed agents, carriers and exchanges. The unbiased website features virtually all state-based exchange plans, federal exchange plans and many private, off-exchange plans. Using interactive tools and innovative technology, HealthCare.com continues to grow its technology, interfaces and services to help consumers compare health insurance costs and subsidies for free, and match them to licensed agents at national call centers, web-based entities or directly with a carrier. HealthCare.com‘s goal is to help consumers easily research information, compare health insurance quotes from insurance carriers using interactive tools and innovation and ultimately enroll into coverage. Using trusted recommendations and a comparison-shopping experience to simplify decision-making, consumers can find the right health insurance plan that fits their lifestyles. HealthCare.com is operated by Healthcare, Inc., and is based in New York, NY. For more information, visit www.HealthCare.com.For press information, contact: Colleen McGuire, firstname.lastname@example.org
Media Contact: Colleen McGuire, Healthcare, Inc., (305) 777-7890, email@example.com