UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number: 001-33071 _____________________________________________ EHEALTH, INC. (Exact name of registrant as specified in its charter) ____________ ...

eHealth, Inc. (NASDAQ:EHTH) Q4 2020 Results Earnings Conference Call February 18, 2021 5:00 PM ET Company Participants Kate Sidorovich - Vice President, Investor Relations Scott Flanders - Chief Executive Officer Derek Yung - Chief Financial Officer Tim Hannan - Chief Revenue Officer Conference Call Participants George Sutton - Craig-Hallum Tobey Sommer - Truist Securities Jailendra Singh - Credit Suisse Dave Styblo - Jefferies Elizabeth Anderson - Evercore Yaron Kinar - Goldman Sachs Jonathan Yang - Barcla ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section provides the unaudited financial statements, management's discussion and analysis, market risk disclosures, and controls and procedures for the company [Item 1. Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents the unaudited condensed consolidated financial statements for eHealth, Inc. as of September 30, 2020, and for the three and nine-month periods then ended, including Balance Sheets, Statements of Comprehensive Loss, Statements of Stockholders' Equity, Statements of Cash Flows, and accompanying notes, showing an increase in total assets to $960.9 million, a net loss of $14.5 million for the nine months ended September 30, 2020, and net cash provided by financing activities of $203.6 million, primarily from a common stock offering [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (in millions) | Balance Sheet Item | September 30, 2020 (Unaudited) (in millions) | December 31, 2019 (in millions) | | :--- | :--- | :--- | | **Total Assets** | **$960.9** | **$741.6** | | Total current assets | $378.4 | $208.1 | | Contract assets – commissions receivable – non-current | $445.6 | $414.7 | | **Total Liabilities** | **$185.2** | **$214.5** | | Total current liabilities | $113.0 | $113.0 | | **Total Stockholders' Equity** | **$775.7** | **$527.2** | [Condensed Consolidated Statements of Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) Statement of Comprehensive Loss Highlights (in millions, except per share data) | Metric | Three Months Ended Sep 30, 2020 (in millions) | Three Months Ended Sep 30, 2019 (in millions) | Nine Months Ended Sep 30, 2020 (in millions) | Nine Months Ended Sep 30, 2019 (in millions) | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | **$94.3** | **$69.9** | **$289.5** | **$204.5** | | Commission Revenue | $73.5 | $59.8 | $254.0 | $184.6 | | **Loss from Operations** | **($20.8)** | **($20.2)** | **($26.1)** | **($41.7)** | | **Net Loss** | **($14.5)** | **($11.0)** | **($14.4)** | **($21.9)** | | **Net Loss Per Share (Basic & Diluted)** | **($0.55)** | **($0.47)** | **($0.56)** | **($0.96)** | [Condensed Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) - Total stockholders' equity increased from **$527.2 million** at December 31, 2019, to **$775.7 million** at September 30, 2020[14](index=14&type=chunk) - The increase was primarily driven by the issuance of 2,070,000 shares of common stock in an equity offering, which generated net proceeds of approximately **$228.0 million**[14](index=14&type=chunk)[78](index=78&type=chunk) - Other significant changes included a net loss of **$14.4 million** and stock-based compensation expense of **$23.0 million** for the nine months ended September 30, 2020[14](index=14&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary (in millions) | Cash Flow Activity | Nine Months Ended Sep 30, 2020 (in millions) | Nine Months Ended Sep 30, 2019 (in millions) | | :--- | :--- | :--- | | **Net cash used in operating activities** | **($11.0)** | **($14.7)** | | **Net cash used in investing activities** | **($128.3)** | **($12.0)** | | **Net cash provided by financing activities** | **$203.6** | **$105.1** | | Net increase in cash, cash equivalents and restricted cash | $64.4 | $78.3 | | Cash, cash equivalents and restricted cash at end of period | $91.2 | $91.4 | - Financing activities in 2020 were primarily driven by **$228.0 million** in net proceeds from a common stock issuance, partially offset by **$17.2 million** for share repurchases to satisfy employee tax obligations[16](index=16&type=chunk)[255](index=255&type=chunk) - Investing activities in 2020 included **$180.5 million** in purchases of marketable securities, partially offset by **$70.8 million** in proceeds from maturities[16](index=16&type=chunk)[253](index=253&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - eHealth is a health insurance marketplace offering Medicare, individual and family, and other health insurance products from over 180 carriers[18](index=18&type=chunk) - The company adopted ASU 2016-13 (Credit Losses) on January 1, 2020, resulting in a **$1.1 million** decrease to retained earnings[29](index=29&type=chunk) - The business is seasonal, with Medicare-related sales concentrated in the fourth quarter and individual/family plan sales also highest in Q4[26](index=26&type=chunk)[27](index=27&type=chunk) - As of September 30, 2020, the company had no outstanding borrowings under its **$75.0 million** revolving credit facility with RBC[120](index=120&type=chunk)[112](index=112&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting a 42% year-over-year revenue increase for the first nine months of 2020, driven by 50% growth in the Medicare segment, covering key operational metrics, including a 37% increase in approved Medicare members, detailing the results of operations by P&L line item, segment performance, and liquidity, noting that while revenue recognition is upfront, cash collection occurs over several years, leading to negative operating cash flow during periods of high growth investment, and that the company raised **$228.0 million** from an equity offering in March 2020 to support working capital and growth initiatives [Overview and COVID-19 Impact](index=28&type=section&id=Overview%20and%20COVID-19%20Impact) - eHealth operates a private health insurance marketplace connecting consumers with a wide range of insurance products from over 180 carriers[132](index=132&type=chunk) - The company's results for the nine months ended September 30, 2020, were not materially impacted by the COVID-19 pandemic, though it shifted employees to a work-from-home model[133](index=133&type=chunk) - Despite COVID-19, the Medicare business grew revenue by 23% in Q3 2020 vs Q3 2019, driven by increased advertising revenue and strong online enrollment[134](index=134&type=chunk) [Summary of Selected Metrics](index=28&type=section&id=Summary%20of%20Selected%20Metrics) Total Approved Members Growth (YTD) | Metric | Nine Months Ended Sep 30, 2020 | Nine Months Ended Sep 30, 2019 | % Change | | :--- | :--- | :--- | :--- | | **Total Approved Members** | **333,026** | **299,163** | **11%** | | Total Medicare | 221,516 | 161,682 | 37% | | Total Individual and Family | 19,047 | 17,639 | 8% | | Total Ancillaries | 82,269 | 109,474 | (25)% | Estimated Membership Growth | Metric | As of Sep 30, 2020 | As of Sep 30, 2019 | % Change | | :--- | :--- | :--- | :--- | | **Total Estimated Membership** | **1,136,714** | **991,204** | **15%** | | Total Medicare | 734,403 | 551,068 | 33% | | Individual and Family | 112,834 | 131,058 | (14)% | - The constrained Lifetime Value (LTV) of commissions per approved member for Medicare Supplement plans increased by **13%** in Q3 2020 vs Q3 2019, while it decreased by **3%** for Medicare Advantage plans due to lower estimated plan duration[154](index=154&type=chunk)[155](index=155&type=chunk) - Total estimated cost per approved Medicare member decreased by **2%** in Q3 2020 vs Q3 2019, driven by a **7%** decrease in Customer Care & Enrollment (CC&E) cost per member[177](index=177&type=chunk)[178](index=178&type=chunk) [Results of Operations](index=37&type=section&id=Results%20of%20Operations) Revenue Performance (in millions) | Revenue Type | Nine Months Ended Sep 30, 2020 (in millions) | Nine Months Ended Sep 30, 2019 (in millions) | % Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | **$289.5** | **$204.5** | **42%** | | Commission Revenue | $254.0 | $184.6 | 38% | | Other Revenue | $35.5 | $19.9 | 79% | Operating Expenses Performance (in millions) | Expense Category | Nine Months Ended Sep 30, 2020 (in millions) | Nine Months Ended Sep 30, 2019 (in millions) | % Change | | :--- | :--- | :--- | :--- | | **Total Operating Costs & Expenses** | **$315.5** | **$246.2** | **28%** | | Marketing and advertising | $104.0 | $72.9 | 43% | | Customer care and enrollment | $101.0 | $81.6 | 24% | | Technology and content | $46.8 | $31.5 | 49% | | General and administrative | $60.3 | $42.7 | 41% | - The increase in marketing and advertising expenses was primarily due to a **$23.6 million** increase in variable advertising costs to drive Medicare enrollment growth[198](index=198&type=chunk) - The increase in customer care and enrollment expenses was mainly due to a **$16.4 million** rise in personnel costs from increased headcount ahead of the annual enrollment period[202](index=202&type=chunk) [Segment Information](index=43&type=section&id=Segment%20Information) - The company operates through two segments: Medicare and Individual, Family and Small Business (IFP/SMB)[221](index=221&type=chunk) Segment Revenue (in millions) | Segment | Nine Months Ended Sep 30, 2020 (in millions) | Nine Months Ended Sep 30, 2019 (in millions) | % Change | | :--- | :--- | :--- | :--- | | **Medicare** | **$246.9** | **$164.4** | **50%** | | **Individual, Family and Small Business** | **$42.6** | **$40.1** | **6%** | Segment Profit (in millions) | Segment | Nine Months Ended Sep 30, 2020 (in millions) | Nine Months Ended Sep 30, 2019 (in millions) | % Change | | :--- | :--- | :--- | :--- | | **Medicare Segment Profit** | **$19.4** | **$5.9** | **228%** | | **Individual, Family and Small Business Segment Profit** | **$23.5** | **$15.0** | **56%** | - Medicare segment revenue growth was driven by a **51%** increase in Medicare Advantage approved members and a **$15.4 million** increase in other revenue (primarily advertising)[231](index=231&type=chunk) - IFP/SMB segment profit growth was primarily due to a **$5.9 million** decrease in operating expenses and a **$2.5 million** increase in revenue, largely from positive commission revenue adjustments[237](index=237&type=chunk) [Liquidity and Capital Resources](index=45&type=section&id=Liquidity%20and%20Capital%20Resources) - As of September 30, 2020, the company had **$87.8 million** in cash and cash equivalents, up from **$23.5 million** at year-end 2019[242](index=242&type=chunk) - The increase in cash was primarily due to **$228.0 million** in net proceeds from a March 2020 common stock offering[242](index=242&type=chunk)[78](index=78&type=chunk) - The company has a **$75.0 million** secured asset-backed revolving credit facility with RBC, with no outstanding borrowings as of September 30, 2020[258](index=258&type=chunk)[260](index=260&type=chunk) - The company expects negative net cash flow in periods of membership growth because marketing and enrollment costs are incurred upfront, while commission cash is collected over several years[239](index=239&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=49&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are credit risk, interest rate risk, and foreign currency exchange risk, with credit risk concentrated in cash deposits exceeding federally insured limits and in commissions receivable from insurance carriers, which is considered low risk, and exposure to foreign currency fluctuations from its operations in China, though this has not been material historically - Financial instruments exposed to credit risk include cash, cash equivalents, accounts receivable, and contract assets (commissions receivable)[268](index=268&type=chunk) - Cash deposits are held with major banks and may exceed federally insured limits, with deposits in China of **$3.4 million** not insured by the U.S. government[61](index=61&type=chunk)[269](index=269&type=chunk) - The company has exposure to foreign currency exchange risk related to operating expenses for its subsidiary in China, denominated in Chinese Yuan Renminbi[274](index=274&type=chunk) [Item 4. Controls and Procedures](index=50&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of September 30, 2020, with no material changes to the internal control over financial reporting during the quarter, and the shift to remote work due to COVID-19 did not have a material impact on these controls - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of the end of the period[276](index=276&type=chunk) - There were no changes in internal control over financial reporting during Q3 2020 that materially affected, or are reasonably likely to materially affect, internal controls[277](index=277&type=chunk) - The company acknowledges the inherent limitations of any control system, stating it can provide only reasonable, not absolute, assurance against errors or fraud[280](index=280&type=chunk) [PART II. OTHER INFORMATION](index=52&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section details legal proceedings, significant risk factors, and a list of exhibits filed with the report [Legal Proceedings](index=52&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 7 of the financial statements, which details ongoing legal matters, including a securities class action lawsuit alleging false and misleading statements regarding accounting and member churn, related derivative lawsuits against directors and officers, and two wage-and-hour complaints from former employees, which have been settled pending court approval - The company is subject to a securities class action lawsuit filed in April 2020, alleging materially false and misleading statements regarding accounting, member churn, and profitability[88](index=88&type=chunk)[90](index=90&type=chunk) - Two related derivative lawsuits have been filed against directors and officers based on similar allegations[91](index=91&type=chunk) - The company has reached a settlement agreement, pending court approval, to resolve two wage and hour complaints (Gonzalez and Le'Vias) filed by former employees in California[92](index=92&type=chunk)[93](index=93&type=chunk)[94](index=94&type=chunk) [Item 1A. Risk Factors](index=52&type=section&id=Item%201A.%20Risk%20Factors) This section outlines significant risks to the company's business, including the complex and changing regulations for marketing Medicare plans, competition from government exchanges and other agents, and reliance on a small number of insurance carriers for a significant portion of revenue, with financial results sensitive to the accuracy of its constrained lifetime value (LTV) estimates for commission revenue, and other risks involving potential business harm from the COVID-19 pandemic, system failures, cybersecurity threats, dependence on operations in China, and the potential for stock price volatility [Risks Related to Our Business](index=52&type=section&id=Risks%20Related%20to%20Our%20Business) - The marketing and sale of Medicare plans are subject to numerous, complex, and frequently changing laws and regulations (e.g., from CMS), and non-compliance could harm the business[286](index=286&type=chunk)[287](index=287&type=chunk) - Financial results are impacted by factors affecting the estimate of constrained lifetime value (LTV) of commissions, including plan duration and member retention, with a decline in Medicare Advantage LTVs noted due to increased plan termination rates[297](index=297&type=chunk)[313](index=313&type=chunk) - The business is concentrated in a small number of health insurance carriers, and the loss or modification of these relationships could significantly harm operating results[308](index=308&type=chunk) - The COVID-19 pandemic poses risks of operational disruption, increased cybersecurity threats, and uncertainty in demand for health insurance products[316](index=316&type=chunk)[318](index=318&type=chunk) - Operations in China expose the company to risks from different laws, intellectual property protection, trade tensions, and potential data security concerns from carrier partners[371](index=371&type=chunk)[372](index=372&type=chunk)[373](index=373&type=chunk) [Risks Related to Ownership of Our Common Stock](index=72&type=section&id=Risks%20Related%20to%20Ownership%20of%20Our%20Common%20Stock) - The company's stock price has been and may continue to be volatile due to market fluctuations, changes in operating results, and other factors beyond its control[415](index=415&type=chunk) - Actual operating results may differ significantly from any guidance provided, as projections are speculative and based on assumptions that may not materialize[413](index=413&type=chunk)[414](index=414&type=chunk) - Anti-takeover provisions in the company's certificate of incorporation, bylaws, and Delaware law could delay or prevent a change in control, potentially limiting stockholder opportunities for a premium[419](index=419&type=chunk)[420](index=420&type=chunk) [Item 6. Exhibits](index=74&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the quarterly report, including an amendment to a lease agreement, certifications from the CEO and CFO as required by the Sarbanes-Oxley Act (Sections 302 and 906), and the Inline XBRL documents for financial reporting - Exhibit 10.1 is the Twelfth Amendment to a lease agreement for the Gold River, California office[424](index=424&type=chunk) - Exhibits 31.1, 31.2, 32.1, and 32.2 are the required CEO and CFO certifications under Sections 302 and 906 of the Sarbanes-Oxley Act[424](index=424&type=chunk) - Exhibits under item 101 are the Inline XBRL (eXtensible Business Reporting Language) files, which provide the financial data in a machine-readable format[424](index=424&type=chunk)

eHealth, Inc. (NASDAQ:EHTH) Q3 2020 Earnings Conference Call October 22, 2020 5:00 PM ET Corporate Participants Kate Sidorovich - Vice President, Investor Relations Scott Flanders - Chief Executive Officer Derek Yung - Chief Financial Officer Tim Hannan - Chief Revenue Officer Phillip Morelock - Senior Vice President, Chief Digital Officer Conference Call Participants Jailendra Singh - Credit Suisse George Sutton - Craig-Hallum Greg Peters - Raymond James George Hill - Deutsche Bank Elizabeth Anderson - Eve ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33071 _____________________________________________ EHEALTH, INC. (Exact name of registrant as specified in its charter) __________________ ...

PART I FINANCIAL INFORMATION [Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20%28unaudited%29) The unaudited condensed consolidated financial statements for Q1 2020 reflect significant year-over-year revenue growth, a shift from net loss to net income, and substantial increases in total assets and stockholders' equity, primarily due to a public equity offering [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2020, total assets increased to $941.5 million from $741.6 million, driven by higher cash and marketable securities, while total stockholders' equity rose to $791.7 million due to an equity offering Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Total Assets** | **$941,519** | **$741,634** | | Cash and cash equivalents | $184,167 | $23,466 | | Contract assets – commissions receivable (current & non-current) | $560,717 | $589,222 | | **Total Liabilities** | **$149,833** | **$214,470** | | **Total Stockholders' Equity** | **$791,686** | **$527,164** | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20%28Loss%29) For Q1 2020, the company achieved a net income of $3.5 million, a significant turnaround from a $5.2 million net loss in Q1 2019, driven by a 55% increase in total revenue to $106.4 million Q1 2020 vs. Q1 2019 Performance (in thousands, except per share data) | Metric | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | **Total Revenue** | **$106,408** | **$68,773** | | Commission Revenue | $99,669 | $64,227 | | Income (Loss) from Operations | $1,031 | ($9,183) | | **Net Income (Loss)** | **$3,452** | **($5,159)** | | **Diluted EPS** | **$0.13** | **($0.24)** | [Condensed Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Stockholders' equity increased from $527.2 million to $791.7 million, primarily driven by the issuance of 2,070,000 common shares in an equity offering, contributing $228.0 million to additional paid-in capital - The company completed an equity offering, issuing **2,070,000 shares** and raising **$228.0 million** in additional paid-in capital during Q1 2020[12](index=12&type=chunk) - Stock-based compensation expense for the quarter was **$9.0 million**[12](index=12&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For Q1 2020, net cash provided by operating activities was $8.9 million, while investing activities used $64.1 million and financing activities provided $215.9 million, resulting in a $160.7 million net increase in cash Cash Flow Summary (in thousands) | Activity | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | Net cash provided by operating activities | $8,907 | $12,749 | | Cash used in investing activities | ($64,136) | ($2,996) | | Net cash provided by financing activities | $215,931 | $112,571 | | **Net increase in cash** | **$160,700** | **$122,386** | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, revenue recognition, and financial instruments, highlighting significant Medicare segment revenue growth, the adoption of new credit loss accounting standards, ongoing legal proceedings, and an increased, undrawn revolving credit facility - The company operates as a health insurance marketplace, offering Medicare, individual and family, small business, and ancillary plans from over **180 carriers**[16](index=16&type=chunk) - On January 1, 2020, the company adopted ASU 2016-13 (Financial Instruments – Credit Losses), resulting in a **$1.1 million decrease** to retained earnings, net of tax[27](index=27&type=chunk)[28](index=28&type=chunk) Q1 2020 Commission Revenue by Product (in thousands) | Product Category | Q1 2020 Revenue | Q1 2019 Revenue | | :--- | :--- | :--- | | **Total Medicare** | **$89,178** | **$50,776** | | Medicare Advantage | $68,347 | $39,843 | | Medicare Supplement | $15,170 | $8,597 | | Total Individual and Family | $2,656 | $6,137 | | **Total Commission Revenue** | **$99,669** | **$64,227** | - In March 2020, the company issued **2,070,000 shares** of common stock for net proceeds of approximately **$228.0 million**[67](index=67&type=chunk) - Two purported class action lawsuits were filed in April 2020 against the company and certain officers, alleging false and misleading statements regarding accounting, member churn, and profitability, which the company believes are without merit[85](index=85&type=chunk) - The company's revolving credit facility was increased from **$40.0 million** to **$75.0 million** in December 2019, with no outstanding principal amount as of March 31, 2020[105](index=105&type=chunk)[113](index=113&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=32&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong Q1 2020 performance to significant Medicare segment growth, driven by increased approved members and revenue, leading to overall profitability and strengthened liquidity from a $228 million equity offering, with the COVID-19 pandemic's impact continuously monitored [Summary of Selected Metrics](index=33&type=section&id=Summary%20of%20Selected%20Metrics) Key operating metrics for Q1 2020 demonstrate strong Medicare business momentum, with total approved Medicare members growing 46% and estimated Medicare membership increasing 44%, despite declines in other segments Approved Members Growth (Q1 2020 vs Q1 2019) | Product | Q1 2020 | Q1 2019 | % Change | | :--- | :--- | :--- | :--- | | **Total Medicare** | **84,702** | **57,899** | **46%** | | Medicare Advantage | 64,898 | 40,741 | 59% | | Total Individual and Family | 9,365 | 11,598 | (19)% | Estimated Membership Growth (as of March 31) | Product | 2020 | 2019 | % Change | | :--- | :--- | :--- | :--- | | **Total Medicare** | **725,943** | **503,877** | **44%** | | Medicare Advantage | 404,262 | 280,763 | 44% | | Individual and Family | 113,483 | 130,297 | (13)% | - Total Medicare cost per approved member increased **5% YoY** to **$713**, driven by higher variable marketing and customer care costs[154](index=154&type=chunk)[155](index=155&type=chunk) [Results of Operations](index=42&type=section&id=Results%20of%20Operations) Total revenue for Q1 2020 increased 55% to $106.4 million, primarily from a 75% rise in Medicare segment revenue, leading to a $1.0 million operating income despite a 35% increase in operating expenses driven by marketing and customer care investments Segment Performance (in thousands) | Segment | Q1 2020 Revenue | Q1 2019 Revenue | Q1 2020 Profit | Q1 2019 Profit | | :--- | :--- | :--- | :--- | :--- | | Medicare | $96,151 | $54,901 | $21,960 | $10,826 | | Individual, Family and Small Business | $10,257 | $13,872 | $2,603 | $6,024 | - Marketing and advertising expenses increased by **$13.8 million (58%)** due to higher variable advertising costs and headcount supporting Medicare initiatives[174](index=174&type=chunk) - Customer care and enrollment expenses increased by **$10.6 million (53%)** due to higher headcount, consulting, and facilities costs[176](index=176&type=chunk) [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity significantly strengthened, with cash and cash equivalents increasing to **$184.2 million** due to **$228.0 million** in net proceeds from a public equity offering, and it maintains an undrawn **$75 million** revolving credit facility - The company's cash and cash equivalents increased to **$184.2 million** as of March 31, 2020[205](index=205&type=chunk) - Net cash provided by financing activities was **$215.9 million**, primarily from a **$228.0 million** public equity offering[219](index=219&type=chunk)[224](index=224&type=chunk) - The company has a **$75 million** secured asset-backed revolving credit facility with RBC, which was undrawn as of March 31, 2020[221](index=221&type=chunk)[223](index=223&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=55&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks include credit risk concentrated in commissions receivable, interest rate risk from its investment portfolio, and foreign currency exchange risk from China-based operations - The company is exposed to credit risk from its contract assets (commissions receivable) of **$560.7 million** as of March 31, 2020[234](index=234&type=chunk) - As of March 31, 2020, the company held **$58.1 million** in short-term and long-term marketable securities, primarily commercial paper and agency bonds, exposing it to interest rate risk[236](index=236&type=chunk) - The company has exposure to foreign currency exchange risk from its operations in China, where expenses are denominated in Chinese Yuan Renminbi[237](index=237&type=chunk) [Controls and Procedures](index=57&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2020, with no material changes in internal control over financial reporting during the quarter, despite the shift to remote work - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period[240](index=240&type=chunk) - There were no changes in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[241](index=241&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=58&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various legal proceedings and regulatory inquiries in the ordinary course of business, with specific details on current matters provided in Note 7 of the financial statements - The company receives inquiries from state and federal regulators and may become involved in litigation in the ordinary course of business, with specific details referred to Note 7 – Commitments and Contingencies[244](index=244&type=chunk)[245](index=245&type=chunk) [Risk Factors](index=58&type=section&id=Item%201A.%20Risk%20Factors) The company identifies numerous material risks, including complex Medicare regulations, intense competition, reliance on concentrated carriers, sensitivity to LTV estimates, potential COVID-19 impacts, cybersecurity threats, and stock ownership risks like price volatility and anti-takeover provisions [Risks Related to Our Business](index=58&type=section&id=Risks%20Related%20to%20Our%20Business) The company faces significant business risks, including complex and changing Medicare regulations, intense competition, reliance on concentrated carriers, volatility in LTV estimates, potential COVID-19 impacts, seasonality, cybersecurity threats, and operational challenges in China - The marketing and sale of Medicare plans are subject to numerous, complex, and frequently changing laws and regulations by CMS and state bodies, and non-compliance could harm the business[248](index=248&type=chunk)[249](index=249&type=chunk) - Operating results are impacted by factors affecting the estimate of constrained lifetime value (LTV) of commissions, including plan duration, cancellation rates, and commission rates, which can cause significant revenue fluctuations[256](index=256&type=chunk)[258](index=258&type=chunk) - The business is concentrated with a few health insurance carriers; for Q1 2020, UnitedHealthcare, Humana, and Aetna represented approximately **22%**, **19%**, and **15%** of total revenue, respectively[280](index=280&type=chunk) - The COVID-19 pandemic presents risks including disruption to call centers, challenges in hiring and licensing agents, and uncertainty in consumer demand and carrier payments[273](index=273&type=chunk)[275](index=275&type=chunk) - The business is subject to security risks, and a compromise of confidential data could damage its reputation, terminate relationships with partners, and result in liability[348](index=348&type=chunk)[350](index=350&type=chunk) [Risks Related to Ownership of Our Common Stock](index=85&type=section&id=Risks%20Related%20to%20Ownership%20of%20Our%20Common%20Stock) Risks related to common stock ownership include potential divergence from management guidance, stock price volatility due to market fluctuations, and anti-takeover provisions that could deter a change in control - The company's stock price has been and may continue to be volatile, with the closing price fluctuating from **$85.70** to **$146.09** per share during Q1 2020[403](index=403&type=chunk) - Anti-takeover provisions, such as a classified board and authorized preferred stock, could delay or prevent a change in control, potentially limiting stockholder opportunities for a premium on their shares[406](index=406&type=chunk)[407](index=407&type=chunk) [Exhibits](index=88&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with or incorporated by reference into the Quarterly Report on Form 10-Q, including an amended lease agreement, an employment agreement, and CEO/CFO certifications - The exhibits filed with the report include an amendment to a lease agreement, an employment agreement with Robert Hurley, and CEO/CFO certifications pursuant to Sarbanes-Oxley Sections 302 and 906[411](index=411&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number: 001-33071 _____________________________________________ EHEALTH, INC. (Exact name of registrant as specified in its charter) ___________________ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $0.001 per share EHTH The Nasdaq Stock Market LLC Emerging growth Company ¨ FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________________________________________________________ Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $0.001 per share EHTH The NASDAQ Stock Market LLC FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________________________________________________________ FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 001-33071 (Commission File Number) _____________________________________________ EHEALTH, INC. (Exact nam ...