GoHealth Inc. is a leading health insurance marketplace that connects consumers with health insurance plans from over 300 national and regional insurance companies. The company was founded in 2001 as Norvax, a technology provider for insurance brokers, and was later renamed GoHealth in 2013 after it pivoted to become a consumer-focused insurance platform. GoHealth has since expanded its services to include Medicare and Medicaid plans, as well as virtual primary care and telemedicine services.
GoHealth went public on July 15, 2020, with an initial public offering (IPO) that raised $914 million. The company priced its shares at $21 each and sold 43.5 million shares, giving it a market value of $6.6 billion at the time of the IPO. The company's shares are traded on the Nasdaq Global Select Market under the ticker symbol "GOCO."
GoHealth's business model is based on generating revenue from commissions earned through the sale of health insurance plans. The company's technology platform is designed to help consumers find the right health insurance plan by comparing plans from multiple insurance carriers, with a focus on affordability, coverage, and benefits. The platform also provides consumers with tools and resources to manage their health insurance policies, such as a digital wallet for storing insurance cards and a chatbot for answering insurance-related questions.
In addition to its health insurance marketplace, GoHealth offers telemedicine services through its subsidiary, GoHealth Virtual. The virtual care platform connects patients with licensed medical professionals for remote consultations, diagnosis, and treatment. GoHealth Virtual offers a range of services, including primary care, urgent care, mental health counseling, and dermatology consultations.
GoHealth's mission is to improve access to affordable healthcare for consumers by providing a transparent and technology-driven platform for comparing and purchasing health insurance plans. The company has a team of over 1,800 employees and operates in 50 states across the US. GoHealth is committed to innovation and investing in new technologies to improve the consumer healthcare experience and expand access to virtual care services.