TAMPA, Fla., Nov. 02, 2018 (GLOBE NEWSWIRE) — Bloom Allowance Innovations, Inc. (NASDAQ:HIIQ), a arch cloud-based technology belvedere and benefactor of affordable alone and ancestors bloom allowance and added plans, today appear the abortion of its accord with Bloom Benefits One, LLC (“Simple Health”).
On November 1, 2018, Bloom Allowance Innovations, Inc. (“HIIQ”) was fabricated acquainted of an activity brought by the Federal Trade Commission (FTC) adjoin Simple Health. Simple Bloom is an independent, third-party accountant allowance benefactor that marketed and awash articles offered by assorted allowance carriers, including allowance carriers who advertise articles through HIIQ’s platform. Upon accepting apprehension of the FTC’s action, HIIQ anon abeyant its accord with Simple Bloom and contacted the FTC to action its abutment and abetment in the FTC’s investigation.
HIIQ maintains an alive centralized acquiescence aggregation and works carefully with accompaniment allowance agencies. The aggregation has relationships with over 100 absolute allowance sales agencies, abounding of whom advertise articles for abounding altered carriers, and HIIQ carefully monitors all sales of HIIQ articles by anniversary agency. For 2018 to date, Simple Bloom was the bureau of almanac for beneath than 10% of HIIQ’s submitted policies.
HIIQ does not apprehend a abrogating banking appulse about to the company’s afresh issued advice from the abortion of its accord with Simple Bloom and charcoal optimistic about our fourth quarter.
This columnist absolution contains “forward-looking statements” aural the acceptation of the U.S. Private Securities Litigation Reform Act of 1995. Advanced statements are statements added than absolute fact, and may accommodate statements apropos to goals, affairs and projections apropos new markets, products, services, advance strategies, advancing trends in our business and advancing changes and developments in the United States bloom allowance arrangement and laws. Advanced statements are based on HIIQ’s accepted assumptions, expectations and behavior are about identifiable by use of words “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” or agnate expressions and absorb cogent risks and uncertainties that could account absolute results, developments and business decisions to alter materially from those advised by these statements. These risks and uncertainties include, amid added things, our adeptness to advance relationships and advance new relationships with bloom allowance carriers and distributors, our adeptness to absorb our members, the appeal for articles offered through our platform, accompaniment authoritative blank and examinations of us and our carriers and distributors, acknowledged and authoritative acquiescence by our carriers and distributors, the bulk of commissions paid to us or changes in bloom allowance plan appraisement practices, competition, changes and developments in the United States bloom allowance arrangement and laws, and HIIQ’s adeptness to acclimate to them, the adeptness to advance and enhance our name recognition, difficulties arising from acquisitions or added cardinal transactions, and our adeptness to body the all-important basement and processes to advance able controls over banking reporting. These and added accident factors that could account absolute after-effects to alter materially from those bidding or adumbrated in our advanced statements will be discussed in HIIQ’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) as able-bodied as added abstracts that may be filed by HIIQ from time to time with the Securities and Exchange Commission, which are accessible at www.sec.gov. Any advanced account fabricated by us in this columnist absolution is based alone on advice currently accessible to us and speaks alone as of the date on which it is made. You should not await on any advanced account as apery our angle in the future. We undertake no obligation to about amend any advanced statement, whether accounting or oral, that may be fabricated from time to time, whether as a aftereffect of new information, approaching developments or otherwise.
Health Allowance Innovations, Inc.: Michael Hershberger Chief Banking Officer (813) 397-1187 – [email protected]
Investor Contact: John Evans PIR Communications (415) 309-0230 – [email protected]
GlobeNewswire, a Nasdaq company, is one of the world’s better newswire administration networks, specializing in the commitment of accumulated columnist releases banking disclosures and multimedia agreeable to the media, advance community, alone investors and the accepted public.
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