eHealth, Inc. Reiterates Fiscal Year 2024 Guidance Ahead of First Quarter 2024 Earnings Announcement
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Provides dial-in details for the first quarter 2024 earnings call, to be held on May 7 at 8:30 a.m. Eastern Time
Following the April 4th release of the final Policy and Technical Changes to the Medicare Advantage Program for Contract Year 2025, eHealth committed to providing clarity with respect to the rule and its potential impact to the company on or prior to its first quarter earnings call.
The company held discussions with several of its carrier partners and other industry participants. Based on their feedback and our analysis to date of the broker compensation provisions of the final rule, the company is reiterating fiscal year 2024 guidance ranges published as part of the company's fourth quarter and fiscal year 2023 earnings report.
Investors can review eHealth's fiscal year 2024 guidance ranges by accessing the company's fourth quarter 2023 earnings release which can be found by following this link: https://ir.ehealthinsurance.com/static-files/6409144f-1ccf-4c7a-9b09-92c16585efb5
First Quarter Earnings Call
The first quarter 2024 earnings conference call will be held beginning at 8:30 a.m. Eastern Time on May 7, 2024. The call will be hosted by eHealth's chief executive officer, Fran Soistman, and eHealth's chief financial officer, John Stelben.
Individuals interested in listening to the conference call may do so by dialing 800-267-6316. The participant passcode is 6194922.
A live webcast of the earnings call will be available under "News and Events" on the Investor Relations page of our website at https://ir.ehealthinsurance.com. The webcast replay will also be available on our investor relations website two hours following the conclusion of the call and will be archived for a period of one year. The company suggests participants for both the conference call and those listening via the web dial in or sign on at least 15 minutes in advance of the call.
About eHealth, Inc.
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. 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.
Investor Relations Contact:
Kate Sidorovich, CFA
Senior Vice President, Investor Relations & Strategy
investors@ehealth.com
Forward Looking Statements
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. These include statements regarding the potential impact on the company of the Policy and Technical Changes to Medicare Advantage for Contract Year 2025, released by CMS on April 4, 2024, and our fiscal year 2024 guidance for total revenue, GAAP net income (loss), adjusted EBITDA and operating cash flow.
These forward-looking statements are inherently subject to various risks and uncertainties that could cause actual results to differ materially from the statements made. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, our ability to retain existing members and enroll new members during the annual healthcare open enrollment period, the Medicare annual enrollment period, the Medicare Advantage annual open enrollment period and other special enrollment periods; changes in laws, regulations and guidelines, including in connection with healthcare reform or with respect to the marketing and sale of Medicare plans, such as the Policy and Technical Changes to Medicare Advantage for Contract Year 2025, released by CMS on April 4, 2024; competition, including competition from government-run health insurance exchanges and other sources; the seasonality of our business and the fluctuation of our operating results; our ability to accurately estimate membership, lifetime value of commissions and commissions receivable; changes in product offerings among carriers on our ecommerce platform and changes in our estimated conversion rate of an approved member to a paying member and the resulting impact of each on our commission revenue; the concentration of our revenue with a small number of health insurance carriers; our ability to execute on our growth strategy and other business initiatives; changes in our management and key employees; our ability to hire, train, retain and ensure the productivity of licensed insurance agents, or benefit advisors, and other employees; exposure to security risks and our ability to safeguard the security and privacy of confidential data; our relationships with health insurance carriers; the success of our carrier advertising and sponsorship program; our success in marketing and selling health insurance plans and our unit cost of acquisition; our ability to effectively manage our operations as our business evolves and execute on our transformation plan and other strategic initiatives; the need for health insurance carrier and regulatory approvals in connection with the marketing of Medicare-related insurance products; changes in the market for private health insurance; consumer satisfaction of our service and actions we take to improve the quality of enrollments; changes in member conversion rates; changes in commission rates; our ability to sell qualified health insurance plans to subsidy-eligible individuals and to enroll subsidy-eligible individuals through government-run health insurance exchanges; our ability to derive desired benefits from investments in our business, including membership growth and retention initiatives; our reliance on marketing partners; the success and cost of our marketing efforts, including branding, online advertising, direct-to-consumer mail, email, social media, telephone, television, radio and other marketing efforts; timing of receipt and accuracy of commission reports; payment practices of health insurance carriers; dependence on our operations in China; the restrictions in our debt obligations; the restrictions in our investment agreement with our convertible preferred stock investor; our ability to raise additional capital; compliance with insurance, privacy, cybersecurity and other laws and regulations; the outcome of litigation in which we may from time to time be involved; the performance, reliability and availability of our information technology systems, ecommerce platform and underlying network infrastructure, including any new systems we may implement; public health crises pandemics, natural disasters, changing climate conditions and other extreme events; general economic conditions, including inflation, recession, financial, banking and credit market disruptions; and our ability to effectively administer our self-insurance program. Other factors that could cause operating, financial and other results to differ are described in our most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K filed with the Securities and Exchange Commission and available on the Investor Relations page of our website at https://ir.ehealthinsurance.com and on the Securities and Exchange Commission's website at www.sec.gov.
All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
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SOURCE eHealth, Inc.
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