GoHealth Launches Expanded Encompass Solution as 2022 Medicare Annual Enrollment Period Begins

Rhea-AI Summary

GoHealth, Inc. (Nasdaq: GOCO) announced the launch of its expanded Encompass solution, aimed at enhancing the Medicare enrollment experience during the annual enrollment period. This solution combines proprietary technology with knowledgeable agents to improve beneficiary satisfaction, achieving a 20% higher retention rate based on pilot program data. The Encompass solution comprises Encompass Connect and Encompass Engage, designed to simplify the enrollment process and ensure beneficiaries receive necessary benefits. Following this, GoHealth plans to utilize $50 million in strategic investments to further enhance its capabilities.

Positive

• 20% higher retention rate from the Encompass solution.
• Continued innovation in Medicare enrollment technology.
• $50 million in strategic investments to expand Encompass capabilities.

Negative

• None.

End-to-end enrollment and engagement solution drives 20% higher retention in health plans, validating GoHealth's ability to combine proprietary technology with knowledgeable agents to improve the Medicare experience

CHICAGO, Oct. 18, 2022 /PRNewswire/ -- GoHealth, Inc. (Nasdaq: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, announced that its expanded Encompass solution will operate at scale with all its key partners during this year's Medicare annual enrollment period (AEP).

With unmatched proprietary technology and consumer insights, GoHealth's end-to-end Encompass solution supports enrollment and engagement across the Medicare beneficiary journey, helping to solve a critical need in the marketplace, drive positive outcomes at scale, and increase member satisfaction. The Company first unveiled Encompass in late 2020 and has since refined the underlying technology and services using feedback from several successful pilots with health plans. Gradual expansion of these pilots demonstrated that usage of the solution drove enhanced quality and higher consumer engagement overall, as well as a 20% improvement in retention.¹ 

"Launching our expanded Encompass solution with all of our key partners is a milestone that validates GoHealth's ability to use powerful new technologies enhanced by experienced agents with the proven ability to build trusted relationships," said Vijay Kotte, CEO of GoHealth. "GoHealth is continually innovating to expand our commitment to quality enrollment and is reorienting our business around member engagement to build trusted and lasting relationships with beneficiaries. Our differentiated end-to-end solution prioritizes plan satisfaction and retention, which results in the best possible outcomes for Medicare beneficiaries while supporting the goals of our valued health plan partners."

The Encompass solution consists of two key components: Encompass Connect and Encompass Engage.

• Encompass Connect is built on a growing foundation of just over 10 million Medicare plan evaluations performed for beneficiaries since 2018. Using machine learning technology, GoHealth's proprietary PlanFit Tool helps experienced agents effectively qualify and match individuals with the best plan. This combination delivers a personalized matching process that incorporates beneficiaries' top priorities and helps them understand associated tradeoffs across various benefits as they select and enroll in a plan.

• Encompass Engage alleviates the confusion that beneficiaries often feel by facilitating an onboarding experience customized to a member's plan and health needs. When onboarding begins, plan fit is verified again by a specialized engagement team that creates a member action plan to ensure the beneficiary obtains the benefits that were most important to them at enrollment. The engagement team's depth of plan knowledge and focus on supporting the beneficiary's utilization of benefits are key drivers of member satisfaction and plan retention. Ultimately, Encompass Engage replaces less effective and disjointed communication methods to simplify obtaining care and ensure beneficiaries feel supported to maximize their health outcomes.

"Today, only one-third of seniors comparison-shop for the right Medicare plan and benefits," said Blair Kessler, General Manager of Encompass. "Each Encompass module was intentionally designed to simplify the shopping experience and drive member satisfaction while also aligning to the key measures in CMS' Star Ratings. We're proud to have a proven solution to simplify the historically disjointed Medicare experience to deliver an even higher-quality experience for beneficiaries."

Following the 2022 Annual Enrollment Period, GoHealth is positioned to leverage its recently announced $50 million in strategic investments to further expand the capabilities of the Encompass solution. The Company will further discuss its Encompass-driven business transformation and the resulting positive financial impact in the next quarterly earnings call, scheduled for early November 2022. Visit https://investors.gohealth.com/news-and-events/events-and-presentations for event details.

Learn more about GoHealth's Encompass solution or view the accompanying infographic.

About GoHealth, Inc.
As a leading health insurance marketplace and Medicare-focused digital health company, GoHealth's mission is to improve access to healthcare in America. Enrolling in a health insurance plan can be confusing for customers, and the seemingly small differences between plans can lead to significant out-of-pocket costs or lack of access to critical medicines and even providers. GoHealth combines cutting-edge technology, data science and deep industry expertise to match customers with the health plan that is right for them. Since its inception, GoHealth has enrolled millions of people in Medicare plans and individual and family plans. For more information, visit https://www.gohealth.com/.

Forward-Looking Statements
This release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, including, among others, statements regarding our expected growth, investment plans and business transformation are forward-looking statements.

In some cases, you can identify forward-looking statements by terms, such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.

These forward-looking statements speak only as of the date of this release and are subject to a number of important factors that could cause actual results to differ materially from those in the forward-looking statements, including important factors described in the section titled "Risk Factors" in our 2021 Form 10-K, and the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, and in our other filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New factors emerge from time to time, and it is not possible for us to predict which will arise. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Media Contacts
Kekst CNC
Nick Capuano / Daniel Hoadley
nicholas.capuano@kekstcnc.com / daniel.hoadley@kekstcnc.com

¹Based on GoHealth data from 1/1/2022 – 9/1/2022.

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SOURCE GoHealth, Inc.

FAQ

What is GoHealth's Encompass solution?

GoHealth's Encompass solution is a Medicare enrollment and engagement platform that combines technology and expert agents to improve member satisfaction and retention.

How much higher is the retention rate with the Encompass solution?

The Encompass solution has demonstrated a 20% higher retention rate during pilot programs.

What investments is GoHealth making to enhance Encompass?

GoHealth is leveraging $50 million in strategic investments to expand the capabilities of the Encompass solution.

When does the Medicare annual enrollment period begin?

The Medicare annual enrollment period begins in October each year.

What are the components of the Encompass solution?

The Encompass solution consists of two main components: Encompass Connect and Encompass Engage.