X0306 4 2017-03-01 0 0001561387 Health Insurance Innovations, Inc. HIIQ 0001569128 Hershberger Michael D C/O HEALTH INSURANCE INNOVATIONS, INC. 15438 NORTH FLORIDA AVE., SUITE 201 TAMPA FL 33613 0 1 0 0 CFO, Secretary and Treasurer Class A Common Stock 2017-03-01 4 S 0 5000 17.902 D 118369 D Stock Appreciation RIghts 10.45 2021-05-21 Common Stock 25000 25000 D Stock Appreciation RIghts 4.95 2022-07-01 Common Stock 30000 30000 D Stock Appreciation RIghts 4.99 2022-09-16 Common Stock 30000 30000 D Stock Appreciation RIghts 5.2 2023-09-16 Common Stock 40972 40972 D The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 18, 2016. The price in Column 4 is a weighted average price. The prices actually received ranged from $17.60 to $18.25. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price. These stock-settled stock appreciation rights were granted under the Issuer's Long-Term Incentive Plan and vest 20% on the first three anniversaries of grant date and 40% on the fourth anniversary, subject to the terms of the Long-Term Incentive Plan and an award agreement under the Long-Term Incentive Plan. These stock-settled stock appreciation rights were granted under the Issuer's Long-Term Incentive Plan and vest 50% on the first anniversary of grant date and 25% on each of the second and third anniversaries, subject to the terms of the Long-Term Incentive Plan and an award agreement under the Long-Term Incentive Plan. /s/ Michael D. Hershberger 2017-03-01