CSG Actuarial has compiled key information on the Medicare business from eHealth Inc.’s Q3 Financial results.
eHealth Medicare Segment Q3 2020 Highlights:
- Medicare segment revenues for the quarter grew 23% year-over-year to $70.4 million
- 36% of Medicare major medical applications submitted online, compared to 21% in Q3 2019
- Medicare Approved members during the quarter increased 17% year-over-year
- Medicare segment Q3 2020 Net Loss of $16.0 million, which eHealth attributes to increased investment in telesales capacity and technology initiatives in preparation for the AEP
- eHealth has affirmed previously provided guidance in July and expects full year 2020:
- Medicare Segment Revenues to be in the range of $583.0 million to $619.0 million
Medicare Segment profit in the range of $176.0 million to $193.0 million
eHealth: Approved members consist of the number of individuals on submitted applications that were approved by the relevant insurance carrier for the identified product during the period presented. Approved members may not pay for their plan and become paying members.
- Estimated Medicare membership as of September 30, 2020 was 734,403, a 33% increase compared to 551,068 estimated members reported as of September 30, 2019.
- By Medicare product, year over year growth:
- Medicare Advantage up 36%
- Medicare Supplement up 12%
- Part D plans up 39%
eHealth: Estimated Membership represents the estimated number of members active as of the date indicated based on the date indicated based on the number of members for whom we have received or applied a commission payment during the period of estimation.
- eHealth discloses carriers that represent 10% or greater share of Total revenue:
Questions? Contact: Jason Yoo, Director of Market Research; Email: jyoo@csgactuarial.com; Phone: 855-861-8776 x1035