eHealth, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>eHealth, Inc. has filed its 2023 Form 10-K, detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

eHealth, Inc. (EHTH) filed a Annual Report (10-K) with the SEC on February 29, 2024. eHealth, Inc. filed its 2023 Form 10-K on February 29, 2024, reporting on the fiscal year ending December 31, 2023. The company's principal business address is 13620 Ranch Road 620 N, Suite A250, Austin, TX 78717. The filing covers the fiscal year 2023, with data points for December 31, 2023, and comparisons to December 31, 2022. eHealth, Inc. operates within the Insurance Agents, Brokers & Services industry (SIC code 6411). The filing includes financial data and disclosures for the period from January 1, 2023, to December 31, 2023.

Why It Matters

For investors and stakeholders tracking eHealth, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of eHealth's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors to assess the company's performance and future outlook. The detailed financial statements and disclosures within the 10-K allow stakeholders to understand the company's revenue streams, profitability, and balance sheet strength, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — eHealth, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains a broad range of information including financial statements, risk factors, and management discussion. While it provides essential disclosures, the inherent complexity and forward-looking statements within such filings necessitate careful analysis, placing the risk at a medium level for immediate interpretation without further deep dives.

Analyst Insight

Investors should carefully review the 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections of the 10-K to understand potential challenges and strategic initiatives for eHealth, Inc.

Key Numbers

• 2023-12-31 — Fiscal Year End (The end date of the reporting period.)
• 2024-02-29 — Filing Date (The date the 10-K was filed with the SEC.)
• 001-33071 — SEC File Number (The SEC's file number for eHealth, Inc.)

Key Players & Entities

• eHealth, Inc. (company) — Filer name and subject of the report.
• 2023 (date) — Fiscal year covered by the report.
• 2024-02-29 (date) — Filing date of the report.
• Austin, TX (location) — City and State of the company's business address.
• 6411 (industry) — Standard Industrial Classification code for the company.

FAQ

Industry Context

eHealth, Inc. operates in the insurance agents, brokers, and services sector, facilitating the sale of health insurance plans.

Regulatory Implications

As a publicly traded company, eHealth, Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Analyze the detailed financial statements and footnotes within the 10-K for revenue trends, profitability, and balance sheet changes.
2. Review the 'Risk Factors' section to identify potential challenges and uncertainties facing eHealth, Inc. in the upcoming fiscal year.
3. Examine the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into the company's strategic priorities and performance drivers.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-29: 10-K Filing Date — The date eHealth, Inc. officially submitted its annual report.

Year-Over-Year Comparison

This filing is the 2023 annual report (10-K), providing a comprehensive update compared to previous filings. Specific year-over-year financial comparisons will be detailed within the report itself.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share EHTH The Nasdaq Stock Market
• $8.04 — its shares (based on a closing price of $8.04 per share) held by non-affiliates was $

Filing Documents

• ehth-20231231.htm (10-K) — 2554KB
• a202310-kex231.htm (EX-23.1) — 4KB
• a2023q4ex311.htm (EX-31.1) — 10KB
• a2023q4ex312.htm (EX-31.2) — 10KB
• a2023q4ex321.htm (EX-32.1) — 6KB
• a2023q4ex322.htm (EX-32.2) — 6KB
• a2023q4ex97compensationrec.htm (EX-97) — 37KB
• ehth-20231231_g1.jpg (GRAPHIC) — 76KB
• ehth-20231231_g2.jpg (GRAPHIC) — 76KB
• 0001333493-24-000032.txt (&nbsp;) — 12656KB
• ehth-20231231.xsd (EX-101.SCH) — 75KB
• ehth-20231231_cal.xml (EX-101.CAL) — 124KB
• ehth-20231231_def.xml (EX-101.DEF) — 401KB
• ehth-20231231_lab.xml (EX-101.LAB) — 1040KB
• ehth-20231231_pre.xml (EX-101.PRE) — 705KB
• ehth-20231231_htm.xml (XML) — 1894KB

Risk Factors

Item 1A. Risk Factors 20

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 47 Item 1C. C ybersecurity 47

Properties

Item 2. Properties 49

Legal Proceedings

Item 3. Legal Proceedings 49

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 49 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 50

[Reserved]

Item 6. [Reserved] 51

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 52

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 76

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 78

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 120

Controls and Procedures

Item 9A. Controls and Procedures 120

Other Information

Item 9B. Other Information 123

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 123 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 123

Executive Compensation

Item 11. Executive Compensation 123

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 123

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 123

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 123 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 124

Form 10-K Summary

Item 16. Form 10-K Summary 124

Signatures

Signatures 125 Exhibit Index 126 1 Table of Contents Summary of Risk Factors The following is a summary of the principal risks we face, any of which could adversely affect our business, operating results, financial condition or prospects: The markets in which we participate are intensely competitive, and if we cannot compete effectively against current and future competitors, including government-run health insurance exchanges, our business, operating results and financial condition could suffer. Our business may be harmed if we lose our relationship with health insurance carriers or our relationship with health insurance carriers is modified. We derive a significant portion of our revenue from a small number of health insurance carriers, and any impairment of our relationship with them or impairment of their business could adversely affect our business, operating results and financial condition. If we are unable to successfully attract and convert qualified prospects into members for whom we receive commissions, our business, operating results and financial condition would be harmed. Our business may be harmed if we do not enroll subsidy-eligible individuals through government-run health insurance exchanges efficiently. Our business, operating results and financial condition will be adversely impacted if we are unable to retain our existing members. Our marketing efforts may not be successful or may become more expensive, either of which could adversely affect our business, operating results and financial condition. If our carrier advertising and sponsorship program is not successful, our business, operating results and financial condition could be harmed. Our business is seasonal in nature, and if we are not successful in responding to changes in the seasonality of our business, our business, operating results and financial condition could be harmed. Changes in our management or key employees could affect our business, operating results and

BUSINESS

ITEM 1. BUSINESS Overview eHealth, Inc. and its subsidiaries, referred to throughout this report as "eHealth," the "Company," "we," "us" or "our", is a leading private health insurance marketplace with a technology and service platform that provides consumer engagement, education and health insurance enrollment solutions. Our mission is to expertly guide consumers through their health insurance enrollment and related options, when, where, and how they prefer. Our platform leverages technology to solve a critical problem in a large and growing market by aiding consumers in what has traditionally been a complex, confusing and opaque health insurance purchasing process. Our omnichannel consumer engagement platform differentiates our offering from other brokers and enables consumers to use our services online, by telephone with a licensed insurance agent, or benefit advisor, or through a hybrid online assisted interaction that includes live agent chat and co-browsing capabilities. We have created a consumer-centric marketplace that offers consumers a broad choice of insurance products that includes thousands of Medicare Advantage, Medicare Supplement, Medicare Part D prescription drug, individual, family, small business, and other ancillary health insurance products from over 180 health insurance carriers nationwide. Our plan recommendation tool curates this broad plan selection by analyzing customer health-related information against plan data for insurance coverage fit. This tool is supported by a unified data platform and is available to our ecommerce customers and our benefit advisors. We strive to be the most trusted partner to the consumer in their life's journey through the health insurance market. Our Business Model We operate our business in two segments: (1) Medicare and (2) Employer and Individual ("E&I"). In the fourth quarter of 2023, the Individual, Family and Small Business segment was renamed "Employer and Individual". The E&I segment name chan

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View this 10-K filing on SEC EDGAR