SANTA CLARA, Calif.,
Feb. 23, 2021 /PRNewswire/
-- Today eHealth, Inc. (NASDAQ: EHTH) (eHealth.com) released
an analysis of costs and trends among Medicare beneficiaries
selecting Medicare insurance plans through eHealth during the
Annual Enrollment Period (AEP) for 2021 coverage, with a special
focus on trends among beneficiaries selecting Medicare Advantage
plans.
"The increasing popularity of Medicare Advantage is one of the
best illustrations of successful private/public cooperation in the
health care sector today," said eHealth CEO Scott Flanders. "Over the years, competition and
innovation among private insurers offering Medicare Advantage plans
has brought down average premiums while increasing benefits, and
enthusiastic beneficiaries are responding by enrolling in ever
greater numbers, as our Medicare Index Report shows."
Highlights from the report:
- For 2021, the percent of beneficiaries selecting Medicare
Advantage plans at eHealth increased across all age bands: 77%
of eHealth's Medicare customers chose Medicare Advantage plans
during the AEP for 2021 coverage, compared to 61% the year
before.
- Nearly nine in ten Medicare Advantage enrollees selected
$0 premium plans: 86% of eHealth
customers selecting Medicare Advantage plans during the AEP for
2021 coverage chose plans with a $0
monthly premium, compared to 83% for 2020, 73% for 2019, and 63%
for 2018.
- Average premiums for Medicare Advantage plans have decreased
71% since 2018: $5 was the
average monthly premium for Medicare Advantage plans selected at
eHealth during the AEP for 2021 coverage, as increased enrollment
in $0 premium plans continued to
drive down average costs.
Read the full report.
eHealth's findings are based on more than 298,000 submitted
applications for Medicare insurance products received by eHealth
during the AEP for 2021 coverage, which occurred from October 15 through December 7, 2020, with data
from the prior three AEPs provided for comparison. Only plan
selections by eHealth customers are considered in this report.
Medicare Advantage plans are offered by private companies
contracting with Medicare to provide beneficiaries' Medicare Part A
and Part B coverage; most also provide prescription drug coverage
and other benefits.
No information relevant to eHealth's financial performance
should be drawn from this report. Similar to other insurance
brokers, eHealth is compensated on a fixed per-member basis
for Medicare Advantage and Part D plans, as regulated by
the Centers for Medicare and Medicaid Services, and on a percentage
of premium basis for most Medicare Supplement plans.
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 180
health insurance carriers across fifty states and the District of Columbia.
Media inquiries, please contact:
Lara Sasken
Vice President, Corporate Communications
lara.sasken@ehealth.com
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SOURCE eHealth, Inc.