CSG Actuarial has compiled key information on the Medicare business from eHealth Inc.’s 1st Quarter 2021 Financial results.
eHealth Medicare Segment 1st Quarter 2021 Highlights:
- Medicare segment revenues for the quarter grew 26% year-over-year to $121.0 million
- 2% of Medicare major medical applications submitted online, compared to 24.4% in 1st Quarter 2020
- Medicare Approved members during the quarter increased 65% year-over-year
eHealth: Approved members consist of the number of individuals on submitted applications that were approved by the relevant insurance carrier for the identified product during the period presented. Approved members may not pay for their plan and become paying members.
- Estimated Medicare membership as of March 31, 2021 was 873,041, a 25% increase compared to 725,943 estimated members reported as of March 31, 2020
- By Medicare product, year over year growth:
- Medicare Advantage up 33%
- Medicare Supplement up 7%
- Part D plans up 2%
eHealth: To estimate the number of members on Medicare-related health insurance plans, we take the sum of (i) the number of members for whom we have received or applied a commission payment for a month that may be up to three months prior to the date of estimation (after reducing that number using historical experience for assumed member cancellations over the period being estimated); and (ii) the number of approved members over that period (after reducing that number using historical experience for an assumed number of members who do not accept their approved policy and for estimated member cancellations through the date of the estimate). To the extent we determine we have received substantially all of the commission payments related to a given month during the period being estimated, we will take the number of members for whom we have received or applied a commission payment during the month of estimation.