SelectQuote responds to allegations in DOJ complaint

SelectQuote (SLQT) said it strongly disagrees with the allegations made by the Department of Justice complaint filed against multiple participants in the Medicare Advantage industry last week. The company said, “SelectQuote believes the allegations are incorrect and lack a clear understanding of the overall industry and SelectQuote’s business model. As we have previously disclosed, we have cooperated with the DoJ’s inquiries since 2022. We firmly reject these allegations and will defend our reputation as a compliant and fair-dealing standard bearer in the Medicare Advantage industry. SelectQuote’s mission remains as it always has been: to connect our customers to the best insurance plans to meet their unique needs. We look forward to continuing our 40-year legacy as customer-focused, value-enhancing broker in the Medicare Advantage sector. Over the past four decades, we have served over 8 million Americans, helping them find the right insurance coverage for their needs. We are particularly proud of our Senior health work, which helps some of the most underserved communities in every corner of our country, including many seniors in small towns, rural areas, and urban areas. The beneficiary population we serve also skews toward seniors who are both lower income and less healthy than the U.S. average. The percent of our customers who qualify for dual special needs plans based upon their income level is more than twice the national average. Our policy sales also represent a much higher portion of individuals with severe and chronic diseases than the national average. Throughout our history, we have worked hard to build a culture based on values of integrity and compliance, and we require and prioritize adherence to all applicable laws, rules and regulations. SelectQuote will defend itself against the allegations in the DoJ’s complaint, and we are confident that once the facts are presented, there will be a positive resolution to this matter.”