Medicare Submissions and Membership - Q3 2024 Medicare submissions grew 22% year-over-year, with Medicare Advantage submissions increasing by 26%[3] - Total Medicare approved members increased by 6% year-over-year, driven by a 14% increase in Medicare Advantage approved members[3] - Total approved members as of September 30, 2024, were 58,266, a slight decrease from 58,467 in 2023, with Medicare members increasing by 6% to 42,871[27] - Medicare Advantage approved members increased to 143,529, a 9% growth from 131,117 in 2023[30] - Total Medicare members decreased by 2% to 1,159,422 in 2024 from 1,184,015 in 2023[31] - Estimated total Medicare membership for 2024 is 873,426, reflecting a 1% increase from 868,333 in 2023[31] Financial Performance - Q3 2024 total revenue was $58.4 million, a decrease of 10% from $64.7 million in Q3 2023, primarily due to lower positive net adjustment revenue[3] - Positive net adjustment revenue for Q3 2024 was $1.2 million, down from $12.2 million in Q3 2023[3] - Non-GAAP total revenue excluding net adjustment revenue increased by 9% year-over-year[3] - Q3 2024 GAAP net loss was $42.5 million, an increase of 15% compared to a net loss of $37.0 million in Q3 2023[3] - Adjusted EBITDA for Q3 2024 was $(34.8) million, compared to $(28.1) million in Q3 2023; adjusted EBITDA excluding net adjustment revenue improved by $4.3 million year-over-year[3] - Full year 2024 total revenue guidance is expected to be between $470.0 million and $495.0 million[5] - GAAP net loss for the full year 2024 is expected to be in the range of $(36.5) million to $(22.0) million[5] - Non-GAAP total revenue excluding net adjustment revenue for Q3 2024 was $57,211, a 9% increase from $52,505 in Q3 2023[37] - GAAP total revenue for Q3 2024 was $58,409, down 10% from $64,718 in Q3 2023[37] - Non-GAAP Medicare segment revenue for Q3 2024 was $52,131, a 13% increase from $46,232 in Q3 2023[38] - GAAP net loss for Q3 2024 was $42,473, compared to a net loss of $37,025 in Q3 2023, representing a 15% increase in losses[36] - Adjusted EBITDA for Q3 2024 was $(36,030), an improvement of 11% from $(40,310) in Q3 2023[36] Revenue Breakdown - Commission revenue decreased by 16% to $48,222 in Q3 2024 from $57,239 in Q3 2023, while other revenue increased by 36% to $10,187[16] - Medicare segment revenue for Q3 2024 was $53,221, a decrease of 4% from $55,523 in Q3 2023, while year-to-date revenue increased by 13% to $194,857 from $172,787[23] - Employer and Individual segment revenue dropped 44% to $5,188 in Q3 2024 from $9,195 in Q3 2023, with a year-to-date decline of 31% to $22,372 from $32,422[23] - The total commission revenue for Q3 2024 was $48,222, a 16% decrease from $57,239 in Q3 2023, while year-to-date commission revenue remained stable at $185,996 compared to $185,428[25] Operating Costs and Expenses - Total operating costs and expenses decreased by 2% to $101,608 in Q3 2024 from $104,114 in Q3 2023[16] - Marketing and advertising expenses increased by 2% to $29,665 in Q3 2024, while general and administrative expenses decreased by 12% to $20,297[16] - Non-GAAP operating costs and expenses for the nine months ended September 30, 2024, were $281,764, compared to $275,910 in 2023[33] - The company expects to incur stock-based compensation expenses of approximately $20.0 million for the full year 2024[41] Cash and Liquidity - Cash, cash equivalents, and marketable securities totaled $117.8 million as of September 30, 2024[3] - Cash, cash equivalents, and restricted cash at the end of the period were $67,122, down from $155,208 at the end of Q3 2023[18] - Net cash used in operating activities was $(29,283) for Q3 2024, compared to $(24,681) in Q3 2023[18] Segment Losses - The Medicare segment reported a segment loss of $17,933 in Q3 2024, compared to a loss of $15,331 in Q3 2023, reflecting a 17% increase in losses[23] - E&I segment profit (loss) for the three months ended September 30, 2024, was $(799) thousand, a decline of $(5,609) thousand or 117% from a profit of $4,810 thousand in 2023[40] - Medicare segment loss excluding net adjustment revenue improved to $(19,023) thousand, a decrease of $5,599 thousand or 23% from $(24,622) thousand in 2023[40] Methodology Changes - Starting Q1 2024, the company modified its expense allocation methodology, no longer allocating facilities-related expenses, which are now reported under "General and administrative"[61] - The reclassification of expenses from marketing, customer care, and technology to general and administrative had no impact on total operating costs, loss from operations, or net loss per share[61] Importance of Non-GAAP Measures - The company emphasizes the importance of non-GAAP financial measures for assessing its operating performance and trends[52] - The company estimates membership for Medicare-related, individual and family, and ancillary health insurance plans based on commission payments received, adjusting for historical cancellation rates[59] - For small business health insurance plans, membership numbers are updated based on notifications from groups or carriers, but cancellations are often communicated directly to carriers without informing the company[60]

Financial Results - eHealth, Inc. announced its financial results for the third quarter ended September 30, 2024 [1] - A webcast and conference call regarding the financial results will be held on November 6, 2024, at 8:30 a.m. Eastern Time [1] Company Overview - eHealth has been operating for over 25 years, assisting millions of Americans in finding affordable healthcare coverage [2] - The company is a leading independent licensed insurance agency, providing access to over 180 health insurers, including both national and regional companies [2]

Core Insights - The Affordable Care Act (ACA) has been fully implemented for ten years, and a recent eHealth report reveals a significant divide in perceptions of its success between enrollees who receive subsidies and those who do not [1][2] Group 1: Subsidy Impact - 66% of enrollees receiving federal subsidies consider the ACA a success, while only 34% of unsubsidized enrollees share this view [2] - Among those receiving subsidies, 81% find their premiums affordable, compared to just 46% of those without subsidies [2] Group 2: Voter Concerns - Healthcare is a major concern for ACA enrollees in the upcoming election, with 67% of likely voters identifying it as a top-three voting issue [2] - 56% of enrollees express a desire for reduced premiums and out-of-pocket costs [2] Group 3: Satisfaction and Opinions - Overall, 68% of ACA plan enrollees report satisfaction with their health insurance plans [3] - A notable 29% of respondents believe that individuals at higher risk should pay more for coverage, with 76% advocating for higher costs for heavy drinkers and 73% for smokers [3] Group 4: Enrollment Period - The ACA's annual open enrollment period is set to begin on November 1 and will continue through January 15, 2025 [4]

Core Insights - eHealth, Inc. has achieved HITRUST i1 certification for its carrier integration platform, demonstrating its commitment to high standards of information security and compliance in the healthcare industry [1][2][3] Group 1: Certification Significance - The HITRUST i1 certification reflects eHealth's adherence to the HITRUST Common Security Framework, which encompasses a wide range of regulatory standards [2] - This certification enhances eHealth's enterprise-wide risk management strategy by implementing advanced security controls to mitigate potential threats [2] - Achieving this certification strengthens eHealth's credibility among clients, partners, and stakeholders, instilling confidence in its data security practices [2] Group 2: Market Positioning - The certification positions eHealth ahead of many competitors, creating future opportunities in business process outsourcing (BPO) and captive engagements [2] - eHealth's commitment to strong cybersecurity practices is critical for reducing information security risks and protecting the organization and its partners [3] - With the HITRUST i1 certification, eHealth is poised to continue delivering secure, compliant, and reliable services, reinforcing its leadership in healthcare innovation [3]

AUSTIN, Texas, Oct. 16, 2024 /PRNewswire/ -- Today eHealth, Inc. (Nasdaq: EHTH) (eHealth.com), a leading online private health insurance marketplace, proudly announces its certification by Great Place to Work®, a global leader in workplace culture recognition. This prestigious certification is entirely based on feedback from current employees about their experiences. This year, an impressive 84% of employees say eHealth is a Great Place to Work. Employees indicated their satisfaction with the company's cult ...

Core Insights - eHealth is prepared for a dynamic Medicare Annual Enrollment Period (AEP) starting October 15, 2024, offering comprehensive support to beneficiaries [1] Group 1: Innovations and Technology - eHealth is launching the "LiveAdvise" tool, allowing beneficiaries to interact with live agents via video, enhancing the shopping experience [2] - Additional tools introduced include "MatchMonitor" for existing customers, "AppTracker" for application status updates, and improved usability features on the ecommerce site [2] - The company is focusing on personalized needs analysis tools and enhanced live agent chat functions to improve customer experience [2] Group 2: Marketing and Brand Strategy - eHealth is building on its new brand identity with marketing campaigns featuring a spokesperson named Eve, showcasing real-life beneficiaries [3] - An integrated marketing strategy will be deployed across various channels, including paid search, direct mail, and social media [3] Group 3: Organizational Changes and Support - eHealth has made strategic adjustments to empower leadership and foster innovation, hiring new licensed insurance agents to support AEP goals [4] - The company has implemented a "100% Verification" standard for telephonic enrollments to enhance clarity and quality [4] Group 4: Employee Engagement and Customer Care - eHealth is promoting employee involvement through the "We are eHealth" campaign and the "AEP Aces" initiative, encouraging staff to assist during peak AEP weeks [5] - Employees are motivated to volunteer, aiming to reduce hold times and improve beneficiary experiences [5] Group 5: Industry Context - eHealth's CEO highlighted potential challenges for Medicare beneficiaries due to significant changes in plans, emphasizing the company's commitment to helping them find suitable coverage [6]

Medicare sustainability is a top-three voting issue for 84% of Medicare beneficiaries, according to eHealth original research AUSTIN, Texas, Oct. 8, 2024 /PRNewswire/ -- With Medicare's Annual Enrollment Period starting next week, new research from eHealth, Inc. (NASDAQ: EHTH) (eHealth.com), a leading private online health insurance marketplace, finds that beneficiaries are entering what is expected to be one of the most disruptive Annual Enrollment Periods in years fearful of cost increases and changes to ...

AUSTIN, Texas, Sept. 24, 2024 /PRNewswire/ -- eHealth, Inc. (Nasdaq: EHTH) (eHealth.com), a leading private online health insurance marketplace, today announced the appointment of Prama Bhatt as a Class II director and independent member of the eHealth Board of Directors (the "Board"), effective September 24, 2024. Ms. Bhatt will also serve on the Audit Committee and the Government and Regulatory Affairs Committee of the Board. Her initial term will run until the Annual Meeting of Stockholders in 2026. "We ...

88% are "shocked" by how much their healthcare costs have increased in the past four years Respondents say next president should focus on Medicare sustainability and address medical and prescription drug costs AUSTIN, Texas, Sept. 18, 2024 /PRNewswire/ -- With the presidential election less than two months away, new research published today by eHealth, Inc. (NASDAQ: EHTH) (eHealth.com), a leading private online health insurance marketplace, shows that Republicans and Democrats are united in their growing al ...

AUSTIN, Texas, Sept. 4, 2024 /PRNewswire/ -- eHealth, Inc. (NASDAQ: EHTH) (eHealth.com), a leading private online health insurance marketplace, announced today that the company recently earned awards for bestin-class in overall quality and customer retention from four major health insurance carriers. The awards, which recognize eHealth's customer-centric approach to matching Medicare beneficiaries with plans that fit their needs and budget, comes just weeks ahead of this year's Medicare Annual Enrollment Pe ...