Note 7. Related Party Transactions	9 Months Ended
Sep. 30, 2016
Notes
Note 7. Related Party Transactions	Note 7. Related Party Transactions Through a joint venture consummated in 2015, the Company has a significant equity interest in Ebix Health Exchange. Ebix Health Exchange administers various lines of health insurance for IHC’s insurance subsidiaries. Effective July 1, 2016, Ebix, Inc. (“Ebix”) a non-related party and international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, exercised its right to increase its ownership in Ebix Health Exchange thereby purchasing an additional 11% of Ebix Health Exchange for $2,000,000. As a result of the transaction, the Company’s ownership interest in Ebix Health Exchange decreased to 49%. IHC and Ebix have equal voting interest on the Board of Managers of Ebix Health Exchange. IHC is obligated to fund any negative cash flow through December 31, 2016 in the form of a loan to the joint venture. Any remaining balance of the loan at December 31, 2016 will be converted to capital. The carrying value of the Company’s equity investment in Ebix Health Exchange was $6,123,000 and $9,838,000 at September 30, 2016 and December 31, 2015, respectively. Ebix Health Exchange reported a net loss of $468,000 and $1,656,000 for the three months and nine months ended September 30, 2016, respectively. The Company recorded $264,000 and $709,000 of the losses in earnings for the three months and nine months ended September 30, 2016, respectively; and reduced the contingent liability, previously recognized on the acquisition date, by $204,000 and $947,000, respectively, during the three months and nine months ended September 30, 2016 representing cash operating losses. The Company’s Condensed Consolidated Balance Sheets at September 30, 2016 and December 31, 2015 include $3,649,000 and $1,397,000, respectively, of notes and other amounts receivable from Ebix Health Exchange, and include $2,936,000 and $405,000, respectively, of administrative fees and other expenses payable to Ebix Health Exchange, which are included in other assets and accounts payable, accruals and other liabilities, respectively. The Company’s Condensed Consolidated Statements of Income for the three months and nine months ended September 30, 2016 include $86,000 and $288,000, respectively, of fee income from Ebix Health Exchange, and include $1,547,000 and $4,132,000, respectively, of administrative fee expenses to Ebix Health Exchange, which are included in fee income and selling, general and administrative expenses. The Company’s Condensed Consolidated Statements of Income include $25,000 in fee income from, and $362,000 of administrative fee expenses to, Ebix Health Exchange which are included in fee income and selling, general and administrative expenses, respectively, for the three months and nine months ended September 30, 2015.

Note 7. Related Party Transactions

9 Months Ended

Sep. 30, 2016

Note 7. Related Party Transactions

Through a joint venture consummated in 2015, the Company has a significant equity interest in Ebix Health Exchange. Ebix Health Exchange administers various lines of health insurance for IHC’s insurance subsidiaries. Effective July 1, 2016, Ebix, Inc. (“Ebix”) a non-related party and international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, exercised its right to increase its ownership in Ebix Health Exchange thereby purchasing an additional 11% of Ebix Health Exchange for $2,000,000. As a result of the transaction, the Company’s ownership interest in Ebix Health Exchange decreased to 49%. IHC and Ebix have equal voting interest on the Board of Managers of Ebix Health Exchange. IHC is obligated to fund any negative cash flow through December 31, 2016 in the form of a loan to the joint venture. Any remaining balance of the loan at December 31, 2016 will be converted to capital.

The carrying value of the Company’s equity investment in Ebix Health Exchange was $6,123,000 and $9,838,000 at September 30, 2016 and December 31, 2015, respectively. Ebix Health Exchange reported a net loss of $468,000 and $1,656,000 for the three months and nine months ended September 30, 2016, respectively. The Company recorded $264,000 and $709,000 of the losses in earnings for the three months and nine months ended September 30, 2016, respectively; and reduced the contingent liability, previously recognized on the acquisition date, by $204,000 and $947,000, respectively, during the three months and nine months ended September 30, 2016 representing cash operating losses.

The Company’s Condensed Consolidated Balance Sheets at September 30, 2016 and December 31, 2015 include $3,649,000 and $1,397,000, respectively, of notes and other amounts receivable from Ebix Health Exchange, and include $2,936,000 and $405,000, respectively, of administrative fees and other expenses payable to Ebix Health Exchange, which are included in other assets and accounts payable, accruals and other liabilities, respectively. The Company’s Condensed Consolidated Statements of Income for the three months and nine months ended September 30, 2016 include $86,000 and $288,000, respectively, of fee income from Ebix Health Exchange, and include $1,547,000 and $4,132,000, respectively, of administrative fee expenses to Ebix Health Exchange, which are included in fee income and selling, general and administrative expenses. The Company’s Condensed Consolidated Statements of Income include $25,000 in fee income from, and $362,000 of administrative fee expenses to, Ebix Health Exchange which are included in fee income and selling, general and administrative expenses, respectively, for the three months and nine months ended September 30, 2015.