eHealth Highlights Key Achievements and Milestones Ahead of Medicare's Annual Enrollment Period
- eHealth has made important improvements across the organization, highlighting its value to Medicare beneficiaries and empowering licensed insurance agents to help customers choose the right coverage. The company has released new consumer-facing tools and redesigned its website. eHealth enters the Annual Enrollment Period (AEP) with a revitalized brand identity, offering a game-changing alternative to traditional marketing and sales pitches. The company has also made extensive improvements to the online customer experience, simplifying content and navigation, improving plan comparison layouts, and introducing a guided shopping experience. eHealth has successfully met its agent hiring goals, selecting from a large applicant pool. The company expects strong Medicare enrollment growth and expansion in enrollment margin compared to last year. eHealth is in a strong liquidity position to support its growth plans and aims to achieve break-even operating cash flow for the 12 months ending March 31, 2024.
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The company unveils new branding and an improved customer experience, and announces achievement of its sales agent hiring goals
"Throughout the past twelve months, eHealth has made important improvements across our organization that highlight our value to Medicare beneficiaries and empower our licensed insurance agents to help customers choose the right coverage for their needs. We have also released new consumer-facing tools and redesigned our website for beneficiaries who prefer to do their own research and enroll online. Because of these improvements and many more, I am confident that our team will deliver a successful AEP this year," said eHealth CEO Fran Soistman.
Mr. Soistman continued: "Our recent survey of over 5,000 Medicare beneficiaries shows that many plan to review their health insurance options this year. With several high-profile exits and capacity reductions in the health care sector, eHealth's ability to provide timely expert advice and enrollment services is more important than ever. This gives eHealth an opportunity to build stronger relationships with consumers and carriers."
A New Brand Identity
eHealth enters this year's AEP with a revitalized brand identity, designed with consumers at the forefront. Based on extensive consumer research and testing, eHealth's new voice, content, website, marketing assets, and digital and television ads will give Medicare beneficiaries a game-changing alternative to the stress-inducing marketing and sales pitches that typically run this time of year. Notably, eHealth has introduced Eve, a spokeswoman who embodies the company's new brand and represents the compassion and expertise eHealth customers deserve. See eHealth's new ads and meet Eve here.
An Improved User Experience
eHealth has made extensive improvements to the online customer experience ahead of AEP. Throughout eHealth's website, page content and navigation have been simplified, plan comparison layouts have been improved and made more intuitive, and new sorting options have been added. An optional guided shopping experience has also been introduced to lead customers step-by-step toward plan recommendations based on their personal needs and preferences. Special emphasis has been placed on significant updates to the mobile website to improve its functionality and value for customers.
A Dedicated Support Team
eHealth has successfully met its agent hiring goals for this AEP, selecting from an applicant pool of over 50,000 individuals. We are offering new, updated training, including sales mastery and specialized training for agents supporting the company's local market strategy. eHealth also offers ongoing training to help advisors advance their careers. eHealth is also empowering its agents with productivity tools that help them match beneficiaries with the right plans.
Financial Strength
This AEP marks an important milestone for eHealth as the company expects to return to strong Medicare enrollment growth during the fourth quarter while also delivering expansion in enrollment margin compared to a year ago, driven by enhanced lead quality and further improvement in lead conversion rates. The company is in a strong liquidity position to support its growth plans during the AEP and beyond, with a goal to achieve break-even operating cash flow for the 12 months ending March 31, 2024.
Forward Looking Statements
This press release contains statements that are forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements relating to the following: our outlook for the upcoming Medicare annual enrollment period; our investments in marketing, technology and operational initiatives and expected impact of these investments on our business; our expectations regarding our business, including market opportunity and our competitive advantage; our expectations regarding our relationships with consumers and carriers; our projections for Medicare enrollment growth, enrollment margin and other quality metrics, including lead conversion rates; our liquidity position and operating cash flow goal; and our expectations regarding our future performance and financial condition.
Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include those set forth in our filings with the Securities and Exchange Commission, including our latest Form 10-Q and 10-K. The forward-looking statements in this press release presentation are based on information available to us as of today, and we disclaim any obligation to update any forward-looking statements, except as required by law.
About eHealth (NASDAQ: EHTH)
We're Matchmakers. For over 25 years, eHealth has helped millions of Americans find the healthcare coverage that fits their needs at a price they can afford. Consumers can visit our health insurance marketplace at ehealth.com, or call us to speak with a licensed insurance agent at 1-833-964-1202. As a leading independent licensed insurance agency and advisor, eHealth offers access to over 180 health insurers, including national and regional companies.
For more information, visit ehealth.com or follow us on LinkedIn, Facebook, Instagram, and X. Open positions can be found on our career page.
Media inquiries, please contact: pr@ehealth.com
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SOURCE eHealth, Inc.
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