Business
eHealth, Inc. Announces Preliminary Results for the Fourth Quarter and Fiscal Year 2019
Fourth quarter 2019 approved members for all Medicare products grew 88% compared to the fourth quarter of 2018. Fourth quarter 2019 approved members for
About this update from Ehealth, Inc.
[{"type":"text","content":"Fourth quarter 2019 approved members for all Medicare products grew 88% compared to the fourth quarter of 2018. Fourth quarter 2019 approved members for Medicare Advantage products grew 100% compared to the fourth quarter of 2018.\n\n\nSANTA CLARA, Calif., Jan. 23, 2020 /PRNewswire/ -- eHealth, Inc. (NASDAQ: EHTH), a leading private online health insurance exchange in the United States, today announced preliminary, unaudited financial results and select operating metrics for the fourth quarter and fiscal year ended December 31, 2019.\n\"I am proud of our achievements in 2019. After raising our guidance twice in the past year, we significantly exceeded our financial and operating targets driven by consistently strong execution throughout the year. 2019 culminated with an exceptional performance by our team during the fourth quarter Medicare annual enrollment period. Our marketing and business development organizations drove record consumer demand to the eHealth platform allowing us to grow fourth quarter approved Medicare members in excess of 85%,\" commented Scott Flanders, chief executive officer of eHealth. \"We remain excited about the Medicare market opportunity and significant growth potential ahead of us and are looking forward to sharing our outlook for 2020 as part of our fourth quarter earnings release next month.\"\nThe preliminary, unaudited financial results and selected operating metrics included in this press release are based on information available as of January 23, 2020 and management's initial review of operations for the fourth quarter and year ended December 31, 2019. They remain subject to change based on management's ongoing review of the company's fourth-quarter and full year results and are forward-looking statements. eHealth assumes no obligation to update these statements. The actual results may be materially different and are affected by the risk factors and uncertainties identified in this press release and in eHealth's annual and quarterly filings with the Securities and Exchange Commission.\nAs part of the year-end closing process, the company is enhancing the manner in which it estimates residual or \"tail\" revenue from the company's Medicare Advantage members approved in prior periods. Since the adoption of Accounting Standards Codification (ASC) 606, the company's cash collections for Medicare ...