Segment & Geographic Data
Quant-Grade Normalized (live API)
API & CSV Delivery
Benefytt Technologies Inc's Business Segments
Benefytt Technologies Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q2 FY2020
Reportable Segments
2
Largest Segment
IFP
Total Revenue
$ 52
Regions Reported
-
Revenue Share by Reportable Segment - Q2 FY2020
- IFP68.7%
- Medicare31.7%
Revenue by Reportable Segment - Q2 FY2020
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| IFP | $ 36 | 68.7% |
| Medicare | $ 16 | 31.7% |
Revenue by Product & Service Category - Q2 FY2020
- Medicare30.3%
- Commission Revenue, STM25.4%
- Commission Revenue, Supplemental19.5%
- Commission Revenue, HBIP17.8%
- Consumer engagement Revenue1.5%
- Service1.1%
- Other1.1%
Revenue by Product & Service Category - Q2 FY2020
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Medicare | $ 16 | 30.3% |
| Commission Revenue, STM | $ 13 | 25.4% |
| Commission Revenue, Supplemental | $ 10 | 19.5% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
4 more categories available
Sign in to unlock the full Benefytt Technologies Inc dataset.
Description of Benefytt Technologies Inc
The company is a technology-driven distributor of Medicare, health, and life insurance products that meet the demands and needs of its consumers. Its business is composed of two operating segments, the Medicare segment, and the IFP segment. The Medicare segment offers Medicare-related health insurance plans, which include Medicare Advantage, Medicare Supplement, and Medicare Part D prescription drug plans. The company actively markets its products to individuals through televised commercials, e-commerce platforms, and digital marketing campaigns, among others. The IFP segment includes individual and family health insurance plans, short-term medical insurance plans, health benefit insurance plans, and supplemental products. The company partners with e-commerce distributors to provide affordable IFP plans to individuals and families. The health insurance products sold are underwritten by third-party insurance carriers with whom the company has no affiliation apart from its contractual relationships. The company assumes no underwriting, insurance, or reimbursement risk, except for the activities of Benefytt Reinsurance, which is a captive reinsurance company formed by the company in May 2019. The company provides consumers with access to health insurance information search and comparison technology through its website, HealthPocket.com, and a direct-to-consumer insurance website that allows consumers to research health insurance trends, comparison shop, and purchase IFPs under the AgileHealthInsurance® brand.
Benefytt Technologies Inc. is a prominent technology-driven platform focused on the health insurance market, aiming to streamline the process for individuals, families, and small businesses in finding the right health insurance coverage. The company operates in several key segments, each designed to cater to specific demographic needs and preferences. Below is a detailed exploration of the segments, products, and services offered by Benefytt Technologies.
Segments
1. Individual Health Insurance:
- Benefytt provides a diverse range of affordable individual health insurance plans sourced from multiple carriers. This segment caters to individuals looking for personalized health insurance options, including:
- Health Maintenance Organizations (HMOs): These plans require members to get healthcare services from a network of providers and generally emphasize preventative care.
- Preferred Provider Organizations (PPOs): These plans offer greater flexibility in selecting healthcare providers and do not require referrals to see specialists, making them appealing to those who value choice.
- High Deductible Health Plans (HDHPs): Tailored for those who desire lower premiums with the trade-off of higher deductibles, catering to individuals who are generally healthy and wish to save on monthly costs.
2. Medicare:
- Benefytt specializes in Medicare-related offerings, helping seniors navigate the complexities of health insurance as they age. This includes:
- Medicare Advantage Plans: These are bundled plans that provide Medicare benefits through private insurers, often including additional services beyond original Medicare.
- Medicare Supplement Plans (Medigap): These plans serve to cover costs that original Medicare does not, such as copayments, coinsurance, and deductibles.
3. Small Business Health Insurance:
- Aimed at small businesses, this segment provides options for group health insurance coverage. Benefytt assists business owners in finding cost-effective plans that can help attract and retain employees, ensuring compliance with any applicable regulations.
4. Life Insurance:
- Benefytt offers life insurance solutions tailored to individual needs, including:
- Term Life Insurance: Provides coverage for a specified term, offering affordable premiums for a designated period.
- Whole Life Insurance: Offers lifelong coverage with a savings component, providing a financial safety net alongside potential cash value growth.
Products and Services
1. Health Insurance Plans:
- Benefytt maintains an extensive portfolio of health insurance plans tailored to meet varying healthcare needs and budget considerations. The plans are designed to cover routine medical care, emergencies, preventive services, and specialty care.
2. Telemedicine:
- Benefytt facilitates telemedicine services, enabling customers to engage in virtual consultations with licensed healthcare professionals. This service is available 24/7, providing convenient access to medical advice and care without the need for in-person visits.
3. Supplemental Insurance:
- Benefytts supplemental insurance offerings enhance existing health insurance coverage. This includes:
- Dental and Vision Plans: Coverage for routine dental examinations, corrective lenses, and other vision-related services.
- Accident Insurance: Provides financial assistance in case of accidental injuries or hospitalizations.
- Critical Illness Insurance: Offers a lump-sum benefit upon the diagnosis of certain serious conditions, helping cover additional medical expenses or loss of income.
4. Prescription Drug Plans:
- Catering specifically to seniors, Benefytt offers standalone Medicare Part D plans. These are designed to assist Medicare beneficiaries in managing their prescription costs, ensuring access to necessary medications.
5. Provider Network:
- Benefytt boasts a robust provider network that connects customers with a variety of healthcare providers, including physicians, hospitals, and specialists. This extensive network increases access to quality care and contributes to the overall health management of policyholders.
6. Online Broker Platform:
- Benefytts online broker platform is designed for licensed insurance agents, facilitating efficient policy management and sales. The digital interface supports agents in connecting with customers, promoting an environment of seamless communication and providing high levels of service to clients who prefer online interactions.
Through its comprehensive segments, diverse product offerings, and innovative services, Benefytt Technologies Inc. has established itself as a vital player in the health insurance market, consistently addressing the unique needs of its clientele with technology-driven solutions.
Segments
1. Individual Health Insurance:
- Benefytt provides a diverse range of affordable individual health insurance plans sourced from multiple carriers. This segment caters to individuals looking for personalized health insurance options, including:
- Health Maintenance Organizations (HMOs): These plans require members to get healthcare services from a network of providers and generally emphasize preventative care.
- Preferred Provider Organizations (PPOs): These plans offer greater flexibility in selecting healthcare providers and do not require referrals to see specialists, making them appealing to those who value choice.
- High Deductible Health Plans (HDHPs): Tailored for those who desire lower premiums with the trade-off of higher deductibles, catering to individuals who are generally healthy and wish to save on monthly costs.
2. Medicare:
- Benefytt specializes in Medicare-related offerings, helping seniors navigate the complexities of health insurance as they age. This includes:
- Medicare Advantage Plans: These are bundled plans that provide Medicare benefits through private insurers, often including additional services beyond original Medicare.
- Medicare Supplement Plans (Medigap): These plans serve to cover costs that original Medicare does not, such as copayments, coinsurance, and deductibles.
3. Small Business Health Insurance:
- Aimed at small businesses, this segment provides options for group health insurance coverage. Benefytt assists business owners in finding cost-effective plans that can help attract and retain employees, ensuring compliance with any applicable regulations.
4. Life Insurance:
- Benefytt offers life insurance solutions tailored to individual needs, including:
- Term Life Insurance: Provides coverage for a specified term, offering affordable premiums for a designated period.
- Whole Life Insurance: Offers lifelong coverage with a savings component, providing a financial safety net alongside potential cash value growth.
Products and Services
1. Health Insurance Plans:
- Benefytt maintains an extensive portfolio of health insurance plans tailored to meet varying healthcare needs and budget considerations. The plans are designed to cover routine medical care, emergencies, preventive services, and specialty care.
2. Telemedicine:
- Benefytt facilitates telemedicine services, enabling customers to engage in virtual consultations with licensed healthcare professionals. This service is available 24/7, providing convenient access to medical advice and care without the need for in-person visits.
3. Supplemental Insurance:
- Benefytts supplemental insurance offerings enhance existing health insurance coverage. This includes:
- Dental and Vision Plans: Coverage for routine dental examinations, corrective lenses, and other vision-related services.
- Accident Insurance: Provides financial assistance in case of accidental injuries or hospitalizations.
- Critical Illness Insurance: Offers a lump-sum benefit upon the diagnosis of certain serious conditions, helping cover additional medical expenses or loss of income.
4. Prescription Drug Plans:
- Catering specifically to seniors, Benefytt offers standalone Medicare Part D plans. These are designed to assist Medicare beneficiaries in managing their prescription costs, ensuring access to necessary medications.
5. Provider Network:
- Benefytt boasts a robust provider network that connects customers with a variety of healthcare providers, including physicians, hospitals, and specialists. This extensive network increases access to quality care and contributes to the overall health management of policyholders.
6. Online Broker Platform:
- Benefytts online broker platform is designed for licensed insurance agents, facilitating efficient policy management and sales. The digital interface supports agents in connecting with customers, promoting an environment of seamless communication and providing high levels of service to clients who prefer online interactions.
Through its comprehensive segments, diverse product offerings, and innovative services, Benefytt Technologies Inc. has established itself as a vital player in the health insurance market, consistently addressing the unique needs of its clientele with technology-driven solutions.