eHealth Report Finds Average Potential Annual Savings of $762 for Medicare Beneficiaries Who Optimize Coverage Based on Rx Needs

Rhea-AI Summary

eHealth, Inc. (NASDAQ: EHTH) reports significant potential savings for Medicare beneficiaries. Their analysis reveals that those enrolled in Medicare Advantage Prescription Drug or stand-alone Medicare Part D plans could save an average of $762 annually, or $63.50 monthly, by optimizing their coverage for prescription drugs. About 94% of users of eHealth's comparison tool could benefit from switching to a more cost-effective plan. Specific potential savings include $873 for MAPD enrollees and $708 for Part D plan enrollees. The insights are based on over 33,000 user sessions.

Positive

• Average potential savings of $762 for Medicare beneficiaries optimizing drug plans.
• 94% of users could save money by switching coverage plans.
• Higher savings potential of $873 for MAPD enrollees and $708 for Part D plan enrollees.

Negative

• None.

SANTA CLARA, Calif., July 15, 2021 /PRNewswire/ -- Today eHealth, Inc. (NASDAQ: EHTH) (eHealth.com) released an analysis that found Medicare beneficiaries enrolled in Medicare Advantage Prescription Drug (MAPD) plans or stand-alone Medicare Part D plans could save an average of $762 per year ($63.50 per month) by enrolling in coverage optimized for their prescription drug needs.

"We know there are few things more alarming to Medicare beneficiaries than high prescription drug costs," said eHealth CEO Scott Flanders. "At a time when expensive new drugs are making their way into the market, our report shows that many beneficiaries could save a lot of money by selecting Medicare plans more closely aligned to their personal prescription drug regimen."

eHealth's findings are based on more than 33,000 user sessions of eHealth's prescription drug coverage comparison tool by Medicare customers during Medicare's Annual Enrollment Period for 2021 coverage, which took place between October 15 and December 7, 2020.

eHealth's prescription drug coverage comparison tool allows many users to identify their drug regimen and their current MAPD or Medicare Part D plan. It then shows them which of the plans offered by eHealth cover their drugs at the lowest combined premium and out-of-pocket cost, and the potential savings to be realized if they switched to the recommended plan.

Additional highlights:

• Among MAPD enrollees, $873 ($72.75 per month) was the average annual potential savings.
• Among Part D plan enrollees, $708 ($59 per month) was the average annual potential savings.
• 94% of drug coverage comparison tool users could have saved money by enrolling in a more cost-effective plan for their 2021 drug coverage needs.

eHealth's report also identifies the average potential savings for eHealth customers in select states and the top ten brand name and generic drugs entered into the tool by users.

Read the full report for more details.

Average potential savings identified in this report are limited to plans offered by eHealth at the time of tool use and are based on the cost information available to eHealth at the time the tool was used; this cost information is subject to periodic updates and corrections.

About eHealth
eHealth, Inc. (NASDAQ: EHTH) operates a leading health insurance marketplace at eHealth.com and eHealthMedicare.com with technology that provides consumers with health insurance enrollment solutions. Since 1997, we have connected more than 8 million members with quality, affordable health insurance, Medicare options, and ancillary plans. Our proprietary marketplace offers Medicare Advantage, Medicare Supplement, Medicare Part D prescription drug, individual, family, small business and other plans from over 200 health insurance carriers across fifty states and the District of Columbia.

Media inquiries: 

eHealth
pr@ehealth.com

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SOURCE eHealth, Inc.

FAQ

What are the potential savings for Medicare beneficiaries reported by eHealth?

eHealth reports that Medicare beneficiaries could save an average of $762 annually by optimizing their prescription drug coverage.

How many users utilized eHealth's prescription drug coverage comparison tool?

eHealth's analysis is based on over 33,000 user sessions of their prescription drug coverage comparison tool.

What percentage of users could benefit from enrolling in a more cost-effective plan?

According to eHealth, 94% of users could save money by choosing a more cost-effective plan.

What is the average savings for MAPD enrollees according to eHealth's report?

MAPD enrollees could potentially save an average of $873 annually.

What is the average savings for Part D plan enrollees reported by eHealth?

Part D plan enrollees have an average potential savings of $708 annually.