Company type | Public |
---|---|
Nasdaq: GOCO | |
Industry | Healthcare |
Founded | 2001 | , in Chicago, Illinois, U.S.
Founders |
|
Headquarters | Chicago, Illinois, U.S. |
Area served | United States |
Key people | Vijay Kotte (
CEO)
[1] Brandon Cruz, (co- executive chairman) [1] Jason Schulz, CFO [1] |
Products | |
Revenue | US$800 million (2020) [2] |
Number of employees | 1,500 |
Website |
gohealth |
GoHealth, Inc. (stylized as GoHealth) is an American marketplace for Medicare plans including Medicare Advantage, MediGap and Medicare Part D, which are programs administered through private health insurance companies. [3] [4] It also operates an online health insurance marketplace offering individual health insurance and short-term health insurance. [5] [6]
In 2012, GoHealth became a government-approved exchange after a deal was signed into place by the Obama administration and the Centers for Medicare & Medicaid Services (CMS). [5] This would allow GoHealth to enroll people in the same plans and offer the same tax-subsidies found on HealthCare.gov. [5] CMS signed the deal with a few private health insurance marketplaces including GoHealth [7] in an effort to provide affordable premiums from the increase in enrollment. [5]
In 2013, GoHealth acted as the first of the private health insurance marketplaces to enroll Americans in subsidy-eligible ObamaCare plans, following the technical challenges from HealthCare.gov's launch. [5] Soon after a fix for broker functionality was implemented on HealthCare.gov, the company utilized their call centers to help Americans enroll in both on-exchange and off-exchange plans while on the phone. [5] While customers had the ability to start the enrollment process using GoHealth's website, speaking with a representative allowed for the company to confirm a person's eligibility for subsidies and complete enrollment. [5] [8] The regulatory approval to enroll people in these plans only applied to residents from the 36 states that used the federal insurance exchange in lieu of a state exchange. [9]
In 2016, after growth from the Affordable Care Act slowed and following the departure of the former President Barack Obama from office, GoHealth turned its focus to Medicare. [3]
GoHealth is headquartered in Chicago, Illinois, [10] with locations in Charlotte, North Carolina, [11] Lindon, Utah, [12] and Bratislava, Slovakia. [13]
GoHealth, originally named Norvax, Inc., was founded in 2001 [14] by Clint Jones and Brandon Cruz. The business initially started by creating websites and lead management software for insurance brokers. [15]
In 2008, then-company Norvax offered online comparison health insurance shopping. [16]
In 2009, Norvax, Inc. was renamed to GoHealth. [17]
In 2012, GoHealth received a $50 million investment from Norwest Equity Partners. [15] [14]
In 2013, GoHealth was appointed by the federal government to enroll eligible residents from 36 states in subsidized health exchange-based plans, made available under the Patient Protection and Affordable Care Act, otherwise known as Obamacare. [9] [18]
In 2013, GoHealth purchased 90,000 sq. ft. in Merchandise Mart, expanding its Chicago locations to four. [19]
In 2015, ADP partnered with the company to help employees, who did not have employer health insurance coverage, enroll in subsidized health plans. [20]
In 2016, GoHealth opened a location in Charlotte, North Carolina. [11]
In 2018, GoHealth opened a location in Lindon, Utah. [12]
In 2019, Centerbridge Partners made a majority stake investment in GoHealth, with a valuation of approximately $1.5B (considered a unicorn status). [21] [22] [23] The purchase became the largest of any Chicago-based technology company within the previous five years, and topped IBM's purchase of $1.3 billion for Cleversafe and SAP's purchase of $974 million for Fieldglass. [3] Norwest Equity Partners retained a stake in GoHealth, [24] while co-founders, Jones and Cruz, continued to hold substantial equity stake. [6]
GoHealth announced a plan to file for IPO in June 2020. [25] [26]
On June 6, 2022, GoHealth announced its appointing of Vijay Kotte as CEO and Jason Schulz as CFO effective immediately. Co-founder and current chief executive officer, Clint Jones, would then become the Executive Chairman of the Board.
In 2015, GoHealth acquired software development company Creatix, based in Bratislava, Slovakia. [13]
Company type | Public |
---|---|
Nasdaq: GOCO | |
Industry | Healthcare |
Founded | 2001 | , in Chicago, Illinois, U.S.
Founders |
|
Headquarters | Chicago, Illinois, U.S. |
Area served | United States |
Key people | Vijay Kotte (
CEO)
[1] Brandon Cruz, (co- executive chairman) [1] Jason Schulz, CFO [1] |
Products | |
Revenue | US$800 million (2020) [2] |
Number of employees | 1,500 |
Website |
gohealth |
GoHealth, Inc. (stylized as GoHealth) is an American marketplace for Medicare plans including Medicare Advantage, MediGap and Medicare Part D, which are programs administered through private health insurance companies. [3] [4] It also operates an online health insurance marketplace offering individual health insurance and short-term health insurance. [5] [6]
In 2012, GoHealth became a government-approved exchange after a deal was signed into place by the Obama administration and the Centers for Medicare & Medicaid Services (CMS). [5] This would allow GoHealth to enroll people in the same plans and offer the same tax-subsidies found on HealthCare.gov. [5] CMS signed the deal with a few private health insurance marketplaces including GoHealth [7] in an effort to provide affordable premiums from the increase in enrollment. [5]
In 2013, GoHealth acted as the first of the private health insurance marketplaces to enroll Americans in subsidy-eligible ObamaCare plans, following the technical challenges from HealthCare.gov's launch. [5] Soon after a fix for broker functionality was implemented on HealthCare.gov, the company utilized their call centers to help Americans enroll in both on-exchange and off-exchange plans while on the phone. [5] While customers had the ability to start the enrollment process using GoHealth's website, speaking with a representative allowed for the company to confirm a person's eligibility for subsidies and complete enrollment. [5] [8] The regulatory approval to enroll people in these plans only applied to residents from the 36 states that used the federal insurance exchange in lieu of a state exchange. [9]
In 2016, after growth from the Affordable Care Act slowed and following the departure of the former President Barack Obama from office, GoHealth turned its focus to Medicare. [3]
GoHealth is headquartered in Chicago, Illinois, [10] with locations in Charlotte, North Carolina, [11] Lindon, Utah, [12] and Bratislava, Slovakia. [13]
GoHealth, originally named Norvax, Inc., was founded in 2001 [14] by Clint Jones and Brandon Cruz. The business initially started by creating websites and lead management software for insurance brokers. [15]
In 2008, then-company Norvax offered online comparison health insurance shopping. [16]
In 2009, Norvax, Inc. was renamed to GoHealth. [17]
In 2012, GoHealth received a $50 million investment from Norwest Equity Partners. [15] [14]
In 2013, GoHealth was appointed by the federal government to enroll eligible residents from 36 states in subsidized health exchange-based plans, made available under the Patient Protection and Affordable Care Act, otherwise known as Obamacare. [9] [18]
In 2013, GoHealth purchased 90,000 sq. ft. in Merchandise Mart, expanding its Chicago locations to four. [19]
In 2015, ADP partnered with the company to help employees, who did not have employer health insurance coverage, enroll in subsidized health plans. [20]
In 2016, GoHealth opened a location in Charlotte, North Carolina. [11]
In 2018, GoHealth opened a location in Lindon, Utah. [12]
In 2019, Centerbridge Partners made a majority stake investment in GoHealth, with a valuation of approximately $1.5B (considered a unicorn status). [21] [22] [23] The purchase became the largest of any Chicago-based technology company within the previous five years, and topped IBM's purchase of $1.3 billion for Cleversafe and SAP's purchase of $974 million for Fieldglass. [3] Norwest Equity Partners retained a stake in GoHealth, [24] while co-founders, Jones and Cruz, continued to hold substantial equity stake. [6]
GoHealth announced a plan to file for IPO in June 2020. [25] [26]
On June 6, 2022, GoHealth announced its appointing of Vijay Kotte as CEO and Jason Schulz as CFO effective immediately. Co-founder and current chief executive officer, Clint Jones, would then become the Executive Chairman of the Board.
In 2015, GoHealth acquired software development company Creatix, based in Bratislava, Slovakia. [13]