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Quotesmith.com Offers Instant Quotes, Coverage Information and Help To 536,000 Seniors Being Dropped by Their Medicare HMOs

Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 12/10/2001


Quotesmith.com Offers Instant Quotes, Coverage Information and Help To 536,000 Seniors Being Dropped by Their Medicare HMOs

82 Medicare HMOs to drop coverage in 28 states by 12/31/01; Quotesmith.com offers convenience and speed in navigating confusing insurance markets

DARIEN, IL (December 10, 2001) -- As more than half-a-million displaced Medicare HMO recipients scramble to assess health insurance coverage alternatives this December, Quotesmith.com (Nasdaq SmallCap: QUOT), the online insurance broker that provides instant auto, life, health and annuity insurance quotes from over 300 leading companies, today announced its commitment to helping make the market search process easier for those who will be dropped by their Medicare HMOs by year's end.

This month some 536,000 affected seniors, all of whom are automatically qualified for coverage under traditional Medicare, may be forced to scramble to find new supplemental coverage between now and January 1, the date that more than eighty HMOs in 28 states will be non-renewing their Medicare HMO plans. Ten states account for 82% of affected enrollees: California, Florida, Pennsylvania, New Jersey, Texas, Illinois, Connecticut, Michigan, Arkansas and New York.

"Withdrawals, non-renewals and forced benefit changes can weigh heavily on Medicare HMO members who are being forced into having to find new plans," said Quotesmith.com senior vice president, Will Hemsworth. "The good news is that anybody on Medicare who is being dropped by their Medicare HMO is guaranteed eligibility for basic Medicare coverage and also guaranteed eligible for enrollment into any one of four specific Medicare supplement plans, regardless of their age or health status. But you must apply to enroll under a 'Medigap' alternative within 63 days of being terminated by your prior coverage in order to qualify."

A Fast, Convenient, Solutions-Oriented Approach Geared to Seniors

Quotesmith.com maintains a continually updated insurance information Web site that provides instant quotes, vital policy coverage information, latest financial stability ratings and free, downloadable buying guides for a total of 28 different Medicare supplement insurers. Any visitor to www.quotesmith.com is free to obtain instant Medicare supplement quotes and to purchase insurance from the company of their choice.

The guaranteed eligibility applies to four plan types: Plan A, B, C and F. Plan F is a popular 'Medigap' plan, and Plan A is the least expensive. Quotesmith.com offers comparative quotes on all plan types from 28 insurance carriers, financial stability ratings on the carriers from five agencies, benefits explanations and the "2001 Guide to Health Insurance for People with Medicare."

The following table represents sample Medicare supplement policies and premiums available in three highly affected states as of December 3, 2001.

Medicare Supplement Insurance Price Sampler
Annual Premiums for Standardized Policies

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