September 1, 2000
FOR IMMEDIATE RELEASE
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The following press release includes information about content, features, products, partnerships or other company news pertaining to QuickQuote Financial, Inc. or the quickquote.com Web site as of the date of the press release. Such information may or may not be currently applicable to QuickQuote Financial, Inc. or the quickquote.com Web site.
QuickQuote.com to Offer Affordable Health Insurance
QuickQuote, recently named "Forbes Favorite" life insurance website, is entering the health insurance field focusing first on the 44 million Americans who have no health care coverage
*, particularly the self-employed and those working in small businesses which do not offer employee health benefits.
QuickQuote is offering a wide range of types of individual/family health care coverage including Indemnity/Fee-For-Service/Major Medical policies, PPOs (Preferred Provider Organizations), Hospital-only PPOs, non-PPO Hospital -only plans, and HMOs (Health Maintenance Organizations). Within each type of coverage there are varying benefits, deductible, co-pay, co-insurance and stop loss levels along with varying premium costs.
Unlike the conventional approach to choosing a health insurance policy by first selecting the desired level of benefits and then seeking the least expensive policy with those benefits, QuickQuote founder and President Dan Wager espouses his new, personal economics-based approach. According to Mr. Wager, "Almost every individual can find an affordable health car plan if the individual examines certain major personal lifestyle factors before deciding on the level of benefits." Mr. Wager cites the following four factors as necessary to consider in order to make an informed health insurance purchasing decision:
- Disposable income of the individual/family
- Assets both liquid and fairly liquid (within 3-6 months
- Lifestyle attributes such as amount of travel, age and number of children, etc.
- Review of current medical conditions.
For example, an Indemnity policy may be the best choice for a person with a large amount of disposable income who travels a lot. On the other hand, a person with less disposable income who travels rarely might find an HMO or PPO to be the most appropriate and cost/beneficial type of health care plan. To find the most cost-effective plan, Mr. Wager recommends that the prospective buyer try various combinations of deductible, co-insurance and co-payment amounts on the Personal health Insurance Quote Generator on the QuickQuote site at www.quickquote.com.
QuickQuote is initially offering individual health insurance plans in 39 states and the District of Columbia. The company expects to be offering plans in the remaining states - Hawaii, Idaho, Kentucky, Massachusetts, Minnesota, New Hampshire, New Jersey, New York, Oregon, Vermont and Washington - in the near future.
QuickQuote Financial Inc., and its parent company, QuickQuote Systems, Inc., are part of the international financial services institution, ING Group, of Dutch origin, which is active in the fields of banking, insurance and asset management in more than 65 countries.
*NBC-TV News: August 18, 2000
