GoHealth and GoodRx Announce Exclusive Medicare Agreement
CHICAGO and SANTA MONICA, Calif., Aug. 2, 2021 /PRNewswire/ -- GoHealth, Inc. (GoHealth) (NASDAQ: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, and GoodRx, Inc. (NASDAQ: GDRX), America's leading resource for healthcare savings, today announced an exclusive agreement to bring GoHealth's Medicare enrollment and engagement solutions directly to GoodRx users on the GoodRx platform.
Of the nearly 20 million people who come to GoodRx every month looking for savings, millions of them have Medicare, based on GoodRx's internal analysis, while many others qualify for the program each year as they age in. GoodRx consumers who want to explore Medicare coverage options and understand potential benefits or savings will be able to access information about GoHealth's market-leading Medicare plan selection solutions. Those who enroll in a Medicare plan through GoHealth have access to a suite of healthcare services to further improve health outcomes. For instance, GoHealth members will receive ongoing engagement and education around pharmacy options and prescription savings related to their Medicare Advantage plan to maximize the value of their prescription plan benefits.
GoHealth consumers will also have access to GoodRx prescription discounts on GoHealth's Encompass platform. GoodRx prescription discounts can provide savings of up to 80% from the pharmacy retail price and are accepted at over 70,000 pharmacies nationwide, including Albertsons, CVS, Kroger, Rite Aid, Walmart and Walgreens.
"We're excited to bring GoodRx into GoHealth's robust ecosystem of strategic partners. Prescription costs are a major financial barrier for many people, especially Medicare members, and GoodRx's platform is greatly beneficial to finding savings for our members. Through this strategic partnership, we are giving our members affordable choices to further improve health outcomes, while also helping GoodRx's users find and enroll in the right Medicare coverage plan that fits their needs, a real win-win," said Ben Miller, Senior Vice President, Strategic Partnerships at GoHealth.
GoodRx is one of the many strategic partners GoHealth has added to its Encompass technology, a proprietary engagement platform that maximizes members' utilization of their benefits once enrolled in a plan, ensuring that members receive the care they need. This agreement is part of GoHealth's ongoing commitment to improve access to healthcare in America.
"The strategic partnership with GoHealth adds critical information to our platform that helps users as they seek to understand and navigate the complex world of Medicare," said Doug Hirsch, co-CEO and co-founder of GoodRx. "The level of Medicare expertise and service that GoHealth provides, combined with our prescription savings value proposition, creates immense value all around."
About GoHealth, Inc.:
As a leading health insurance marketplace and Medicare-focused digital health company, GoHealth's mission is to improve access to healthcare in America. 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 match customers with the healthcare policy and carrier that is right for them. Since its inception, GoHealth has enrolled millions of people in Medicare and individual and family plans. For more information, visit https://www.gohealth.com.
About GoodRx:
GoodRx helps Americans get the healthcare they need at a price they can afford. As America's leading resource for healthcare savings, GoodRx connects consumers with affordable and convenient prescriptions and medical care, including telehealth, mail order prescriptions, doctor visits, and lab tests. We have helped Americans save over $30 billion since 2011 and are one of the most downloaded medical apps over the past decade.
Forward-Looking Statements (GoHealth)
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be 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 "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 the Company believes 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. There are or will be important factors that could cause the Company's actual results to differ materially from those indicated in these forward-looking statements, including, but are not limited to, the following: the Company's ability to comply with the numerous, complex and frequently changing laws regulating the marketing and sale of Medicare plans; the potential for an adverse change in the Company's relationships with carriers, including a loss of a carrier relationship; failure to grow the Company's customer base or retain its existing customers; carriers' ability to reduce commissions paid to the Company and adversely change their underwriting practices; significant consolidation in the healthcare industry which could adversely alter the Company's relationships with carriers; information technology systems failures or capacity constraints interrupting the Company's operations; factors that adversely impact the Company's estimate of LTV; the Company's dependence on agents to sell insurance plans; changes in the health insurance system and laws and regulation governing health insurance markets; the inability to effectively advertise the Company's products; and our ability to successfully implement our business plan during a global economic downturn caused by the COVID-19 pandemic.
The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this press release, as well as the cautionary statements and other risk factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and other SEC filings. If one or more events related to these or other risks or uncertainties materialize, or if the Company's underlying assumptions prove to be incorrect, actual results may differ materially from what the Company anticipates. Many of the important factors that will determine these results are beyond the Company's ability to control or predict. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, the Company does 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, the Company cannot assess the impact of each factor on its 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.
Forward-Looking Statements (GoodRx)
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding value of this partnership, consumer savings and benefits and information available on the GoodRx platform. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, risks relating to our acquisition strategy, the integration of acquired business and the important factors discussed under the caption "Risk Factors" in GoodRx's Annual Report on Form 10-K for the year ended December 31, 2020, and our other filings with the SEC. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
Contacts:
GoHealth
Investor Relations, IR@gohealth.com
Media Relations, pressinquiries@gohealth.com
GoodRx
Media Relations, press@goodrx.com
SOURCE GoHealth, Inc.
