California-based Alliant Insurance Services has acquired Florida-based Health Market Solutions, (HMS).
HMS has been experiencing rapid growth in direct-to-consumer sales of Affordable Care Act (ACA) under-65 individual health insurance plans.
HMS focuses on direct-to-consumer ACA plans, combining advanced data science and human expertise. Since its founding in 2022, the company has grown to service thousands of customers across more than 20 US states.
The agreement comes during a period of rapid growth in the ACA marketplace.
More than 21 million people signed up for health plans through health insurance marketplaces for 2024, marking the third consecutive year enrolment has set a record.
HMS will now be a part of Alliant Consumer Group, which houses the company’s growing portfolio of consumer-facing operations.
The entire HMS team will join Alliant. Terms of the agreement were not disclosed.
Greg Zimmer, CEO of Alliant, said: “HMS has combined service and innovation to achieve significant growth in a short time span.
“Partnering with Health Market Solutions provides an opportunity for Alliant to further expand our reach in the ACA market, while also investing in top-tier talent and technologies that will solidify our strength in the marketplace.”
Rick Ulmer, senior managing director, Alliant Consumer Group, said: “The arrival of the HMS team brings additional innovation and market intelligence to our group as we continue to expand our footprint in the ACA market.
“HMS offers a potent combination of exceptional growth, high-level service, and strong strategic relationships.”
Josun W Straatsma, president of HMS, said: “Alliant’s vast experience and longevity in the insurance industry, combined with its entrepreneurial culture and results-driven leadership, played a significant role in our decision to join forces.
“This strategic partnership will immediately provide innovative new tools and resources that will allow us to grow and scale even faster in the ACA market.”
