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Ehealth, Inc. (EHTH) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Ehealth, Inc.

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CIK: 1333493 Ticker: EHTH



Exhibit 99.1
eHealth, Inc. Announces Fourth Quarter and Fiscal 2014 Results

Fourth Quarter 2014 Overview
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Revenue of $45.0 million, a decrease of 17% compared to the fourth quarter of 2013
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GAAP operating loss of $13.8 million compared to GAAP operating loss of $2.6 million for the fourth quarter of 2013
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GAAP net loss of $19.2 million, or $(1.08) per diluted share, including a $11.5 million, or $(0.65) per diluted share provision for income taxes to record a valuation allowance against deferred tax assets, compared to GAAP net loss of $2.0 million, or $(0.11) per diluted share for the fourth quarter of 2013
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Non-GAAP net loss of $7.8 million, or $(0.44) per diluted share, compared to non-GAAP net loss of $0.3 million, or $(0.01) per diluted share for the fourth quarter of 2013
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Total estimated members decreased 10% compared to the fourth quarter of 2013
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Submitted applications for Medicare Advantage and Medicare Supplement products combined increased 46% compared to the fourth quarter of 2013.
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Submitted applications for Individual & Family Plan products decreased 41% compared to the fourth quarter of 2013
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Cash flow from operations was an outflow of $4.1 million compared to cash flow from operations of $6.2 million in the fourth quarter of 2013

MOUNTAIN VIEW, Calif.-February 25, 2015-
eHealth, Inc. (NASDAQ: EHTH), the nation’s first and largest private health insurance exchange, announced today its financial results for the fourth quarter and fiscal year ended December 31, 2014.

Gary Lauer, chief executive officer of eHealth stated, “We have now completed the Medicare Annual Enrollment period and the Open Enrollment Period under the Affordable Care Act in the individual market.  Our Medicare business performed well in 2014 as evidenced by the strong year-over-year increase in submitted applications as well as a positive trend in projected profitability of our individual Medicare members.  We plan to continue to invest for growth in this important business area.  At the same time, individual and family health insurance submitted application volume came in below our expectations.  We are currently reviewing our Open Enrollment Period performance and are taking a close look at the cost structure of our business.  Our near-term goal is to adjust our operating expenses in light of our individual and family health insurance membership to improve our financial results and cash flow generation.”

Fourth Quarter 2014 Results

Revenue-Revenue for the fourth quarter of 2014 totaled $45.0 million, a 17% decrease compared to revenue of $54.2 million for the fourth quarter of 2013. Commission revenue for the fourth quarter of 2014 totaled $38.4 million, a 13% decrease compared to commission revenue of $44.2 million for the fourth quarter of 2013. Medicare related revenue was $13.5 million for the fourth quarter of 2014, a 16% decrease compared to Medicare related revenue of $16.1 million for the fourth quarter of 2013. The decline in Medicare related revenue was partially a result of a delay in recognizing some revenue related to new Center for Medicare and Medicaid Services (“CMS”) regulations prohibiting carriers from paying commissions during the fourth quarter on Medicare Advantage and Medicare Part D prescription drug plans sold during the fourth quarter with an effective date in the following year. Medicare related revenue in the fourth quarter of 2014 also reflects a decline in Medicare sponsorship and advertising revenue compared to the fourth quarter of 2013. Medicare related revenue includes Medicare commission revenue, Medicare sponsorship and advertising revenue and Medicare licensing revenue.

Income (Loss) from Operations-Operating loss for the fourth quarter of 2014 was $13.8 million, compared to operating loss of $2.6 million for the fourth quarter of 2013. Operating margins were (31)% and (5)% in the fourth quarters of 2014 and 2013, respectively. Non-GAAP operating loss for the fourth quarter of 2014 was $14.0 million compared to non-GAAP operating income of $0.2 million for the fourth quarter of 2013. Non-GAAP operating margins were (31)% and 0% in the fourth quarters of 2014 and 2013, respectively. Non-GAAP operating loss and margins in the fourth quarter of 2014 exclude $(0.7) million of stock-based compensation expense and $0.5 million of intangible asset amortization expense. Non-GAAP operating income and margins in the fourth quarter of 2013 exclude $2.4 million of stock-based compensation expense and $0.4 million of intangible asset amortization expense.



The following information was filed by Ehealth, Inc. (EHTH) on Wednesday, February 25, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Stockholders' Equity
Balance Sheet Accounts
Balance Sheet Accounts (narrative) (details)
Balance Sheet Accounts (schedule Of Accounts Receivable) (details)
Balance Sheet Accounts (schedule Of Cash And Cash Equivalents) (details)
Balance Sheet Accounts (schedule Of Intangible Asset Future Amortization Expense) (details)
Balance Sheet Accounts (schedule Of Intangible Assets) (details)
Balance Sheet Accounts (schedule Of Non-current Liabilities) (details)
Balance Sheet Accounts (schedule Of Other Assets) (details)
Balance Sheet Accounts (schedule Of Other Current Liabilities) (details)
Balance Sheet Accounts (schedule Of Prepaid Expenses And Other Current Assets) (details)
Balance Sheet Accounts (schedule Of Property And Equipment) (details)
Balance Sheet Accounts (tables)
Commitments And Contingencies
Commitments And Contingencies (narrative) (details)
Commitments And Contingencies (schedule Of Future Minimum Obligations) (details)
Commitments And Contingencies (tables)
Fair Value Measurements
Fair Value Measurements (narrative) (details)
Fair Value Measurements Fair Value Measurements (tables)
Income Taxes
Income Taxes (income Tax Rate Reconciliation Schedule) (details)
Income Taxes (narrative) (details)
Income Taxes (reconciliation Of Unrecognized Tax Benefits Schedule) (details)
Income Taxes (schedule Of Components Of Pre-tax Income) (details)
Income Taxes (schedule Of Current And Deferred Income Taxes) (details)
Income Taxes (schedule Of Deferred Tax Assets, Net) (details)
Income Taxes (tables)
Net Income (loss) Per Share
Net Income (loss) Per Share (schedule Of Anti-dilutive Shares Excluded From Computation Of Net Income Per Share) (details)
Net Income (loss) Per Share (schedule Of Computation Of Basic And Diluted Net Income Per Share) (details)
Net Income (loss) Per Share (tables)
Operating Segments, Geographic Information And Significant Customers
Operating Segments, Geographic Information And Significant Customers (details)
Operating Segments, Geographic Information And Significant Customers (schedule Of Long-lived Assets By Geographical Area) (details)
Operating Segments, Geographic Information And Significant Customers (schedule Of Revenue By Major Customers) (details)
Operating Segments, Geographic Information And Significant Customers (tables)
Selected Quarterly Financial Data (tables)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data Unaudited (schedule Of Selected Quarterly Financial Data) (details)
Stockholders' Equity
Stockholders' Equity (narrative) (details)
Stockholders' Equity (schedule Of Fair Value Of Stock Options, Valuation Assumptions) (details)
Stockholders' Equity (schedule Of Option Activity Under Stock Plans) (details)
Stockholders' Equity (schedule Of Restricted Stock Unit Activity Under Stock Plans) (details)
Stockholders' Equity (schedule Of Shares Reserved) (details)
Stockholders' Equity (schedule Of Stock Plan Activity) (details)
Stockholders' Equity (schedule Of Stock Repurchase Activity Under Stock Repurchase Programs) (details)
Stockholders' Equity (schedule Of Stock-based Compensation Expense By Operating Function) (details)
Stockholders' Equity (schedule Of Stock-based Compensation Expense) (details)
Stockholders' Equity (tables)
Subsequent Event
Subsequent Event (details)
Summary Of Business And Significant Accounting Policies
Summary Of Business And Significant Accounting Policies (narrative) (details)
Summary Of Business And Significant Accounting Policies (policy)
Summary Of Business And Significant Accounting Policies (schedule Of Property And Equipment Useful Life) (details)
Summary Of Business And Significant Accounting Policies (tables)
Ticker: EHTH
CIK: 1333493
Form Type: 10-K Annual Report
Accession Number: 0001333493-15-000016
Submitted to the SEC: Mon Mar 16 2015 4:32:45 PM EST
Accepted by the SEC: Mon Mar 16 2015
Period: Wednesday, December 31, 2014
Industry: Insurance Agents Brokers And Service

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