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DALLAS/FORT WORTH – May 10, 2010 – Insphere Insurance Solutionssm (http://www.insphereis.com) announced that it has finalized a marketing agreement with Humana® (http://www.humana.com) for its HumanaOne® health plans for individuals and families.
Insphere will initially offer the HumanaOne PPO plans in Arizona, Colorado, Florida, Georgia, Illinois, Tennessee, Texas, Utah and Wisconsin and may expand marketing of these plans to additional states by the end of the year.
"We are excited about offering Humana’s individual health plans," said Phillip J. Hildebrand, President and Chief Executive Officer of Insphere Insurance Solutions. "Humana is one of the fastest growing individual health insurance brands in the country and they consistently earn high marks from their members for their great service and product designs."
Insphere Insurance Solutions will market the full portfolio of HumanaOne plans. These plans are designed to meet the needs of individuals, families and the self-employed for quality insurance coverage that is also budget-friendly. This includes Humana’s traditional PPO plans as well as HSA-qualified plans.
HumanaOne currently serves approximately 335,000 members with their HumanaOne PPO products. Their Humana.com Provider Finder includes 544,000 health care professionals, more than 4,000 hospitals and 60,000 pharmacies.
"Our agreement with Humana illustrates Insphere’s commitment to expanding its portfolio of life, health, long-term care and retirement insurance products to better meet the range of needs within the middle-income market," said Hildebrand. "We believe that our selection of nationally recognized companies like Humana, combined with our agents, who provide personalized service and understand the unique needs of the individual insurance buyer, enables Insphere to deliver an unmatched level of service to our clients."
Insphere Insurance Solutions previously announced marketing agreements with Aetna and UnitedHealthcare’s Golden Rule Insurance Company for individual health insurance plans, John Hancock for long-term care insurance, ING for term life and universal life insurance and Minnesota Life for whole life insurance. Insphere also has a marketing arrangement with The Plus Group Texas which provides agents with access to disability income insurance products from market leaders MetLife, Principal Financial Group and The Standard.
Insphere Insurance Solutions is owned by a group of private equity investors, including affiliates of The Blackstone Group, Goldman Sachs Capital Partners and Credit Suisse, and is actively recruiting new and experienced insurance agents and experienced field leaders with an objective of doubling the number of agents over the next few years.
"Because of our size and scale, we are able to offer a diverse product portfolio, an innovative compensation structure and significant support for field managers and agents, including best-in-class technology capabilities for lead generation, training, compliance and marketing," added Hildebrand.
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HumanaOne offers affordable health plans for individuals and families, such as self-employed entrepreneurs, students, recent college graduates, and early retirees, and those who may be uninsured. HumanaOne is a division of Humana Inc., one of the nation’s largest publicly traded health benefits companies. HumanaOne offers flexible, affordable health plans that let consumers choose from many of the features usually found only in group health plans, such as negotiated rates, wellness benefits, and special discounts.
Insphere Insurance Solutions® is a distribution company that specializes in meeting the life, health, long-term care and retirement insurance needs of small business and middle-income individual and families through its portfolio of products from nationally recognized insurance carriers. Insphere is an authorized agency in all 50 states and the District of Columbia with approximately 2,200 agents nationwide. For more information about Insphere Insurance Solutions visit www.insphereis.com.
This news release may include forward-looking statements relating to Insphere Insurance Solutions ("Insphere") that are subject to certain risks, uncertainties and assumptions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them to reflect changes that occur after that date. Factors that could cause actual results to differ materially include, but are not limited to, Insphere's ability to maintain applicable licenses, Insphere's ability to enter into and maintain satisfactory relationships with insurance carriers and agents and the implementation of various information technology and administrative systems, platforms and processes necessary to successfully run the business. Like any business, the progress and success of Insphere entails substantial uncertainty.
Donna Ledbetter
(817) 255-5405
Donna.Ledbetter@InsphereIs.com