Continued investment in consumer-centric
shopping, enrollment, and engagement platform delivers a
differentiated consumer experience and drives high quality
outcomes
CHICAGO, Oct. 11,
2023 /PRNewswire/ -- GoHealth, Inc. (Nasdaq: GOCO), a
leading health insurance marketplace, today announced the launch of
PlanFit CheckUp, a seamless offering designed to remove
stress and enhance the experience for consumers shopping for a
Medicare Advantage plan.
Backed by analytics from nearly 30 million consumer touchpoints and
machine learning technology, GoHealth's proprietary PlanFit
Tool helps GoHealth's licensed agents match consumers to the
best plan based on their profile and priorities. GoHealth is
further distinguishing its industry-leading model by investing in
the long-term consumer relationship, aligning consumer healthcare
needs with agent compensation to create a pressure-free Medicare
shopping experience. Specifically, GoHealth agents who complete a
PlanFit CheckUp are compensated regardless of whether the
assessment results in an enrollment – for example, if the consumer
is already on the best plan to suit their needs.
As the popularity of Medicare Advantage plans continues to
skyrocket1, consumers have far more options than ever
before. In 2023, the average Medicare plan shopper could choose
from 44 different plans, an increase of 84% just since
20192. At the same time, a recent GoHealth
study3 shows that 41% of Medicare enrollees have not
shopped since initially enrolling in Medicare, putting them at risk
of having an outdated plan as individual health needs are always
changing, and many health plans change coverage and benefits each
year. PlanFit CheckUp enables consumers to navigate this
crowded space, regularly assessing the appropriateness of their
current plan through a data-driven customized process, guided
by the trusted expertise of a licensed GoHealth agent.
"We are committed to providing peace of mind to Medicare consumers
so they can focus on living life," said Vijay Kotte, CEO of GoHealth. "With PlanFit
CheckUp, we are proud to be investing in long-term relationships
with millions nationwide, providing a trustworthy solution to
regularly ensure they're enrolled in the right plan to meet their
individual needs with a focus on quality."
The Company continues to advance its ongoing strategic Encompass
transformation, focused on high quality enrollments, diversifying
cash inflow timing from innovative contracting approaches, and
delivering operational efficiencies from new technologies and
reduced variable costs.
"This year, we've been driving our ongoing business
transformation with great success," said Vijay Kotte, CEO of GoHealth. "As our Encompass
model approaches its first full year of launch at scale, we have
seen improvements in our cash flow from operations and accelerated
profitability. This enables incremental investment in our
consumer-centric platform, helping us deliver best-in-class options
as we continue to partner with like-minded health plans focused on
quality enrollments. In doing so, we are able to deliver even
greater value for our consumers as well as for our
shareholders."
Learn more at www.GoHealth.com
About GoHealth, Inc.
GoHealth is a leading health insurance marketplace and
Medicare-focused digital health company. Enrolling in a health
insurance plan can be confusing for customers, and the seemingly
small differences between plans can lead to significant
out-of-pocket costs or lack of access to critical medicines and
even providers. GoHealth combines cutting-edge technology, data
science and deep industry expertise to build trusted relationships
with consumers and match them with the healthcare policy and
carrier that is right for them. Since its inception, GoHealth has
enrolled millions of people in Medicare plans and individual and
family plans. For more information, visit
https://www.gohealth.com/.
Forward-Looking Statements
This release contains forward-looking statements. We intend such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other
than statements of historical facts contained in this press release
may be forward-looking statements. Statements regarding our future
results of operations and financial position, business strategy and
plans and objectives of management for future operations,
including, among others, statements regarding our expected growth,
investment plans and business transformation are forward-looking
statements.
In some cases, you can identify forward-looking statements by
terms, such as "may," "will," "should," "expects," "plans,"
"anticipates," "could," "intends," "targets," "projects,"
"contemplates," "believes," "estimates," "predicts," "potential,"
or "future," "likely," or "continue" or the negative of these terms
or other similar expressions. Accordingly, we caution you that any
such forward-looking statements are not guarantees of future
performance and are subject to risks, assumptions and uncertainties
that are difficult to predict. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable as of the date made, actual results may prove to be
materially different from the results expressed or implied by the
forward-looking statements.
These forward-looking statements speak only as of the date of
this release and are subject to a number of important factors that
could cause actual results to differ materially from those in the
forward-looking statements, including important factors described
in the section titled "Risk Factors" in our 2022 Form 10-K, and the
section titled "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in our Quarterly Report on
Form 10-Q for the quarter ended June 30,
2023, and in our other filings with the Securities and
Exchange Commission. Any forward-looking statement speaks only as
of the date on which it is made, and, except as otherwise required
by law, we do not undertake any obligation to publicly update or
review any forward-looking statement, whether as a result of new
information, future developments or otherwise. New factors emerge
from time to time, and it is not possible for us to predict which
will arise. In addition, we cannot assess the impact of each factor
on our business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those contained in any forward-looking statements.
Media Inquiries
pressinquiries@gohealth.com
Investor Relations
jshave@gohealth.com
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1Source:
Medicare Advantage in 2023: Enrollment Update and Key Trends; KFF
https://www.kff.org/medicare/issue-brief/medicare-advantage-in-2023-enrollment-update-and-key-trends/
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2Source: In
a Shifting Market, Medicare Advantage Shows Continued Growth;
Chartis
https://www.chartis.com/insights/shifting-market-medicare-advantage-shows-continued-growth
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3Findings in
the release came from a proprietary GoHealth survey conducted in
July 2023 consisting of more than eighteen hundred U.S. adults who
are eligible for Medicare.
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SOURCE GoHealth, LLC
